WHANGAREI BANKRUPTCY.

Auckland Star, Volume LV, Issue 211, 5 September 1924, Page 10

WHANGAREI BANKRUPTCY.

"A. SEARCHING INQUIRY." (From Our Own Correspondent.) WHANGAREI, Thursday. An examination into the bankruptcy of Harry Butterworth, grocer, of Maunu Road, Whangarei, was held at the office of the Deputy Official Assignee, Mr. E. P. Ramsey, yesterday. Mr. R. K. Trunmer appeared for bankrupt. The filed statement disclosed that unsecured creditors were owed _-620, while assets comprised £374 9/2,' being stock in hand £152, book debts £180, cash in hand £9 19/5, and furniture, £30 10/. Bankrupt stated that he started business in July, 1023, and at that time he owed £20. His capital waa £200, and all this went into stock. He did not understand books, so employed an accountant. In cross-examination, bankrupt admitted that he had made entries in the books, as pointed out to him by his accountant. « I The Official Assignee started that the books had never been reconciled, and he was doubtful as to whether the accountant had been employed other than making out the monthly accounts. Bankrupt admitted that he only paid the accountant £2 per month. ( Under further cross-examination, i bankrupt said that his position was precarious in June lastj although his accountant had not told him at any time that his position was serious. He had contracted debts qk the Friday and Saturday immediately prior to filing, although he knew he was not in a positionto pay. - - : "Bankrupt was put under severe f cross-examination by representatives of various creditors, and the two following, motions Were carried:.: (a) "That .the Official Assignee • call tenders for the stock, and that Messrs. Maiden (I/. DNathan and Co.) and Graves (North Auckland Farmers' Co-op.) act in conjunction with the Deputy Official Assignee"; (b) that the Deputy Official Assignee be authorised to have a searching investigation made with regard to the books of the bankrupt, and that as soon as tenders for the stock had been received a further meeting of creditors be called."