"CHANCING A DIVIDEND."

Auckland Star, Volume LVI, Issue 260, 3 November 1925, Page 11

"CHANCING A DIVIDEND."

CREDITORS TAKE THE OFFER. BANKRUPTCY OF E. G. BOWDEN. Only two creditors turned up at the Official Assignee's office this morning ivhen Ernest George Bowden, of 118, Valley Road, Mount Eden, carrier, was examined, in bankruptcy. The total amount involved was £87 10/3, all being unsecured creditors. Book debts were estimated to produce £0, making a deficiency of £81 10/3. In hi- statement the bankrupt said he was a married man -with three children* He started in business as a. carrier, and was induced to purchase a motor truck for which he found he could not pay. X was seized, and this fact, together with lack of capital, caused his failure. Under examination, the bankrupt said lie had been trained aa a butcher. He had been informed that there was an opening for a carrying business in the district and he started operations. When he took over the liability of £650 lor the truck he was quite clear of debt and did not owe anything. This was at the beginning of the year. In March the vehicle was seized," and since then he had been at work as a casual labourer at a wage of £4 16/, when in full work. He was paying 30/ per week rent for half a house, and his wife owned the furniture, which was worth about £30. Bankrupt had endeavoured to make arrangements with his biggest creditors, but they would not come to terms. The Official Assignee said that as no quorum was present no resolution could be passed. Creditors would have to accept the position with a "broad smile in this case, and chance getting a dividend." ' .