HAMILTON BUILDER'S BANKRUPTCY.

Auckland Star, Volume LIV, Issue 178, 27 July 1923, Page 3

HAMILTON BUILDER'S BANKRUPTCY.

ATTRIBUTED TO USD SLUMP. • <By Telegraph Own. CorrespottdeirM HAMILTON, this day. A well-known Hamilton builder, C. W. Cooper, has filed his schdeule in bankruptcy. In a written statement he gives an excess of assets over liabilities at book valuations at £249. He stated that he had been carrying ou business as a builder for 27 years. He commenced business on his own account with £439 in 1920, and he lost over £1000 on business transactions. The year 1922 marked the commencement of his decline, although when he had a balance-sheet drawn up it showed creditors at £1104, while assets aggregated £8824. He estimated his losses last year at £2695, including the lose of £1013 on the Strand Theatre. On March 31 of this year his debits to creditors totalled £3179 and debts due to him £803. Amounts owing on uncompleted contracts at that date totalled £4623.* He attributed his position largely to a slump in land values, as he had purchased a considerable number oj sections. He estimated personal draw ings at £400 a year.