PORK BUTCHER FAILS.

Auckland Star, Volume LIX, Issue 248, 19 October 1928, Page 8

PORK BUTCHER FAILS.

"HIS OWN FAULT," SAYS A

CREDITOR.

EXCESSIVE DRINKING ALLEGED

DISCHARGE TO BE OPPOSED.

Competition in business and the general depression in trade were stated by Thomas William Smith, pork butcher, of Onehunga, whose creditors met in Auckland to-day, to have been the principal causes of his failure. The claims of unsecured creditors amounted to £629, and those of secured creditors to £1938. Assets were returned at £1186, leaving a nominal surplus of £555.

Debtor said he started in business in 1922 with £400 capital. He did really well for several years, and in 1925 he put in a refrigerating plant and started a small factory. Opposition was started against him and his competitors began to deal in similar small goods as those he made. He raised a second mortgage of £.300, hoping that matters would improve, and also started a branch business at Papakura. Trade continued to go back, however, and he was compelled to file his petition.

The Official Assignee (Mr. O. N. Morris) said it was extremely difficult to trave debtor's transactions from his books, which were "very primitive." Smith was closely questioned by one of the creditors who suggested that debtor had not attended to the business as he should have done, but had done too much drinking and gambling. Smith denied the accusation.

Ihe Creditor: Well, at any rate it is true that you left your wife to work her soul-case out in looking after the business ?

Debtor: That is not true. I have never been a teetotaller, but I have never drunk to excess.

Another creditor, who had lived near debtor at Onehunga, said there was no doubt Smith was drinking to excess three months ago. After further examination had taken placo the Official Assignee saii it seemed clear the debtor would be better working for wages. He was obviously not the type of man who should be in business on his own account, and his discharge would be opposed until something had been done for the benefit of creditors.

A third creditor expressed the opinion that Smith's position was due entirely to his own fault. "Nobody knows better than I do that most of the work has been thrown on his wife," he added. The meeting was concluded in committee.