BANKRUPT GARAGE MAN

Auckland Star, Volume LXIII, Issue 133, 7 June 1932, Page 8

BANKRUPT GARAGE MAN

NOW ON RELIEF WORKS. DEFICIENCY OF JJ.JIS. A meeting of the creditors of PI. G. Miller, pa rage proprietor, of Albert Street, was held before the Oflicial Assignee, Mr. A. W. Watters, this morning. In his statement of accounts, bankrupt's assets were, shown ae £137, and hi* deficiency as £315. "I started business in January, 1!W1," read bankrupt's written statement. "The rent of the garage was £5 10/ a week for a period of twelve months. I bought the plant and fittings for £100. Profits were good the fir*t few mouths, lmf from April, 1931, the takings began to full. T had no capital of my own when f entered the business. The first few nmntbi? T drew £0 10/ a week and was still nble to μ-iy my way. In August last the danger of continuing became obvious, and efforts were made to improve the turnover and cut down expenses. To make the business pay, a turnover of £150 a month was required." Bankrupt's counsel said he had no money and was on relief work. The meeting was adjourned eine die.