WHANGAREI BANKRUPTCY.

Auckland Star, Volume LVI, Issue 31, 6 February 1925, Page 5

WHANGAREI BANKRUPTCY.

j INEXPERIENCED MANUFACTURER. | (P.y Telegraph.—Own Correspondent ) WHANGARF.I, this flay. | A meeting of creditors in the bankrupt I estate of Francis W. S. Durooy, clerk, of Whangarei, took place at. the office of) the deputy official assignee to-,lay. The j tile disclosed that bankrupt owed £-'"' s | N/7 to unsecured creditor-. His assets, were set down nl £-"i<> 3 ><■ Bankrupt stated that prior to 1023 he was a car-1 pouter, then In- started a wire-woven,, inattr.-s bu-iiic". without any previous, experience, on bnrrnwed eapitab tree or inferos' f,, r , certain tune. The firs' | , six months showed a loss of £90, but!. i 1,,,--,,,,-- xvas expected to improve. Al j,| ~,„! ~f the year be xvas j.1',0 behind. ! Hi- bad drawn'out an average of less than £2 10/ weekly. He attributed bis I failure" to lack or capital _ and losing ! discounts, and also lack of experience : ii, :i,is class of business. Competition had also been a factor. Previous to this ~.,uipctiti'oi be bad installed extra plant in the belief that business would pick nil -ulliciently to shoxv a profit. io I the creditors present (Mr. I..nan was of opinion that bankrupt ,-huiiiil in.i be allowed to go into business again for some time. Hoxvevcr, the meeting terminated without anyi resolution being submitted.