UNSUCCESSFUL TRADING

Auckland Star, Volume LVIII, Issue 69, 23 March 1927, Page 9

UNSUCCESSFUL TRADING

TAUMARUNUI BANKRUPTCY. THE CREDITORS' DECISION. INVESTIGATION OF BOOKS. There was a large attendance at a creditors' meeting held this morning before the Official A.-sijrnee (Mr. G. N. Morris i to inquire into the business affairs of N. Winger and Company, garage proprietors, at Taumarunui. The liabilities of the firm were set down as £3474 11/: total a«ets. £41">3 Z. 11; total deficiency. t;4.;JI 7/1. The Official said that there had been a partnership at Taumarunui consisting of ('<. L. Winger and his son. •T. A. N. Winder. At a meeting held at Wellington, the parties were requested to file. (',. L_ Winger delayed filing, and until he filed the partnership did not come into the speaker s hands. Proceeding. Mr. Morris said that he intended to deal with the G.- L. Winger

c-st.ite. and then ?o into the partnership matters. G. L. Winger had shown a big surplus o\»r assets, although a number of properties were mortgaged and would be hard to realise. The speaker was at

a disadvantage as far as the son (J. A N. Winger' was concerned, aj his -cbedule and book* were ju«t to hand. <l. L. Winger's schedule had also just come to hand. An Estimated Snrplns. <. L. Winer's liabilities ».*re shown as £2~-."> 11. -.viir.M creditors £10741 in 7. -ccurities £2.1.741. and an e-timated surplus of £20.v-,n ]:t g. The bankrupt considered that if he could have realised his ;ivv<:; he would have paid 2/ in the £. and had a substantial -urplus. Effort to Float Company. <• ustav Ludwij Winder was examined, and -ail he had a--end-d the '. meptinff ' t creditors at Wellington. He did r. •>• tiien file, '••.•■-au-e he c-vn-:der<«d that he would have been mad to do so. He endeav-:j-ei ;.-> float an Auckland cn:-.irv of (~ L. Winder and ( •■>. :n:o a companv. but was unable I to .') so." H- f.-und the mon»v :•• : ■ Mi- •':•• r-rni of V. W.--.- .ir.d" »•>. at r.iun.arunui. pu'tme :n ii-'<f>. aly r.oney a- a later <la-<\ He had :a'. an;, say .:-. the management of the -or.-em. Bankrupt had n-t anything io wi'h the hu-ine-s »ir,-e he left Tatimarurn::. There were T-> n l shares ' in the Auckland company of G. L. I Winzer and Coy. His *o n held 1300 j two daughters 3<l -hares eich. har.krur-t h->! ling t'-e ! aia- -c "Unioniiaately Palled In."' Mr. M >rris sa.d trw bankrupt had mo-; untort mateiy been pulled into , the matter as he seemed to have had little to do with the Taumarunui "business. The d.-fri -ulty was join? to he | to keep a.-y pr. perties "alive'" until they could be sold. In reply to a question bankrupt said that he had not b-rn aware that the Taiimanmui bu-:r.e-s was in a precarious -:.i-e. The las; baiar.-e sheet that he saw disclosed a satisfactory position. He had no: thonght tha"anything was wrong, as Taumamnui j was a place where there was no rr.oner in the winter. Mr. Morris asked -'-- s,- n T \. V .Yinsren. why he had failed t.. f.irward i so; of causes. Bankrupt said that he was -orrv. but ie must ha\.< entirely ovprl.v--k-*d i* Mr. Morris: I don'"t k:-w what :t if :t is no; *ir ie--.-.•---. I- d---.'t uake creditors a.-.v :-:•-•' '--p. "en: M jrins 1 t.iem here en a wild "«•«* r'-iv The creditors d..-:d-d to : it :> Tau- | narunui rirm'i book* in th-- '"..\r.-'.i o: '. in accounran:. to render a -\r r...a----vithin a month. Mr. M-r- « *.» d •:;.!• f.:r- :«-r d-ta i, vouid 'be -i.:->; ' ,-■• re '.i:•■ .;,-.' l.t •:- a