COAL DEALER'S FAILURE

Auckland Star, Volume LXI, Issue 192, 15 August 1930, Page 8

COAL DEALER'S FAILURE

INSUFFICIENT CAPITA* •DEBTS MAY BE PAID IN-Fotf* . Lack of 'capital,' keen competition. aii accident to an employee insured and who had ■'obtainedjujg.. against him for £51 were which Garnet L. B.' coal dealer,, of New'Lynn, who. J ;jj , creditors yesterday, attribugo .failure. The Official "Assignee, Air. ■. Watters, presided. . '•? The financial, statement,-.e» unsecured debts amounting sum .of . £12 was : . creditors, and.the estimated value securities was £25stock intrade valued atf2s ana .^ book debte. • The ■• total -deficiency £68. - -■'-."• ■':':'. sß^ Neeson said he commenced busui a -wood and coal dealer in' liaving:prevjously-workedJor >.eer as a nWseryman, author ,;&*»ss with a firm of brickmakere. capital to put -in had hampered him, as he had^ee^^. to.buy: wood-and i*al %sssss consequently lost the discount. ~$ gross takings had not exceeded week. ';' . ' . : . Questioned by the assignee, g saidhe wae single. past week ha<i been only opportunity of taking a co , n %' o n«i thought he would make about. * The assignee said he thougflt should eventualy be able. t0 J^, reSO mv creditors: The meeting. tion .expressing the opmion be, rupt-withreaepnable ablest© pay his creditors .in -f«"'F-Jiis-4ifi<iharge..,v .- ■ ■ ,■ ' ' .' : '