RUNNING TWO BUSINESSES.

Auckland Star, Volume LIX, Issue 119, 22 May 1928, Page 19

RUNNING TWO BUSINESSES.

TOBACCONIST BANKRUPT.

" WILD PARTIES " ALLEGED.

(By Telegraph.—Own Correspondent.)

HAMILTON, Monday.

Debts totalling £2146, including £726 due to unsecured creditor*, were enumerated in the schedule of Samuel Henry Dwen, a taxi-driver and tobacconist, Te Awamutu, who to-day met his creditors.

Bankrupt's assets were valued at £2671, including stock-in-trade £175, book debts estimated to produce £200, motor car £75, and other property £2|20. The nominal surplus was £424. Bankrupt said he had been in business as a tobacconist at Te Awamutu for 21 years. In 1015 he started taxi-driving, and put an assistant in the shop. He purchased several cars, and engaged men to drive them. Competition was keen, and he sold two cars at a loss. The tobacconist business fluctuated a good deal. Two months ago he realised it was not paying, and that he had been unwise br giving credit to natives and others for taxi hire.

The Assignee commented that it was strange that up till 12 months ago bankrupt's affairs were all right, and since then there had been a sudden drop. The Assignee: Is it a fact that you are in the habit of holding wild parties in your saloon?

Dwen: Well, not wild. Friends used to come occasionally, perhaps with halfa bottle of whisky. They would finish this and go. The Assignee. Is it a fact that you have been remitting sums of money to different persons T Bankrupt denied this. The Assignee said there appeared to be a leakage somewhere. With a turnover of £50 a week from the shop the position should have been beetter. In effect bankrupt was saying he had been robbed by his employees- He should have realised he had been too trusting. A tribute to bankrupt's honesty was paid by Messrs. W. J. King and Dynes Fulton.

Bankrupt was asked to furnish a list of his receipts and expenditure for 12 months.