"HE'S FAIR ENOUGH."

Auckland Star, Volume LVIII, Issue 211, 7 September 1927, Page 10

"HE'S FAIR ENOUGH."

STORE CONTRACTOR'S

FAILURE.

WILL FAT AIX HE OWES. MEETING OP CREDITORS. Frederick George Tapp, contractor, of Penrose, met his creditors before the (.V&nal Assignee, Mr. G. X. Morris, thi3 morning. Bankrupt's schedule showed that he owed £140 to unsecured creditors and aa there were no assets that sum represented the amount of his deficiency. In his statement, Tapp said he started business in a qnarry at Penrose in April, 1926, previous to which he had owned a stone-crnshing plant for three years and this had proved very successful. Ee then decided to increase his business and had a capital of about £1400. He had not quarried 1000 yards of good bine metal before a very inferior class of stone was met with. Having to shift the poor stuff , cost M™ his contract. Then bad weather came and the two eomMned were given as the reason for bis failure. Books Destroyed By Fire. Under examination by the Official Assignee, bankrupt said he had kept books but they had been destroyed by fire in a house he waa endeavouring to purchase. He had taken in a partner In September, 1&26, who had put in £450 because bankrupt had found he ceroid not finance on account of having struck the bad metal. Later he handed the whole business over to his partner in Febrnary last with the exception oi four debts for which, bankrupt claimed sole responsibility. In answer to further questions, Tapp assured the Official Assignee that he would be able to pay his creditors if given a chance to carry on contracting. Nothing Against Him. Official Assignee: He's fair enough about it and is not prepared to ask for his discharge tin he has paid. The only thing is I consider he should have consulted his creditors before he went into partnership. Have any of yon creditors got anything against him personally ♦ There was no answer. Official Assignee: You can't prosecute him, and the roost you can do is to oppose his discharge. He is willing to pay. Turning to bankrupt, Mr. Morris said, "The position is you'll have to be careful if you go into contracting again/* No resolution was pssned, and the meeting ended.