BANKRUPT DEALER.

Press, Volume LXIII, Issue 18968, 5 April 1927, Page 11

BANKRUPT DEALER.

"MIGHT AS WELL BE DEAD" NO STATEMENT SUPPLIED. "Do you propose to start, in business J again?" asked ilr \V. J. tsi-acey of aj bankrupt who in«;t his creditors in the Official Assignee's Utfice yesterday morning. _"No, 1 might a- n«ii be dead," replied, the bankrupt u-itii. iieat. '"Vcu would i>t no ito; to yjiir creditors,'' rejoined :,n >taLtj. lb<i uauhfuiJL wai odJiiva ijamiott WatU-,, ,-, uu, i:,i- ; ; \ii;i mo vv&i-a to CightyL'.i uiL>nia-.. iiai <t aetoud"aua_ (k>alt;r, carrying on Easiness aD ■3u \ icLoria suvei. 'Jhi-uichurcb. | l'he piiii'jipaj crt'UHoj-j were as iol-lows:--ilopiiinatioii Uooiutmeui, Wellington, ±,210: .Mr.; luvniu V\ utts, Chnstthurci). iioj; Aioaros uiid V\'Uhams, solkitoia, Oliristcburch, £81); Ashby, Uergh and Co., Ltd., Cliristcliurch, i3'j; 1L Wilby, mine manager, .Uuuiu synier aj £ii-j ; tt. L>. van Asch, solicitor, Christchurcli, £lB. the creditors numbered -7, tlit; total amount owing teing shown as ,Co9l 17s Sd. 'I he Assignee informed the meeting thai there was im statement forthcoming from the bankrupt. A statement of and liabilities was required to be-lodged ' under the Act, within three days of filing. A well-known solicitor had heeti acting for bankrupt, but had dropped the case because he found it extremely difficult to get into touch with, the bankrupt and he could not -ascertain where he was living. I'n .answer to the Assignee bankrupt said that he had attended the shop for about an liour every day. Recently he had been living with his son in Bowliill road. He had an interest in his lather's estate which was mortgaged, to the administrators for £BO. He had been a dealer for from eighteen uionths to two years. Prior to that he had been a carrier at New Urightun, and while there he. was burnt out. Just after the. close of the war. he borrowed £3OO from the Repatriation Department, buying a Ford truck, which was sold later for £75, and this money was invested in furniture. His son, eighteen years, of age, had an old car which he had bought on a hire-purchase agreement for £2O. When bankrupt started in business he borrowed £l5O from his»wife for the purchase of furniture. The Assignee said that .bankrupt had died on his own petition. An inventory of the stock in the shop had been made, and this was valued at £lOl 1? Cd. He warned. bankrupt that he could have until noon to-day to lodge a statement of his assets and liabilities. In reply to Mr Stacey, who represented - a. creditor, . bankrupt said that the insurance money on the furniture burned was received by his wife, as the furniture was hers. His father had left £2OOO to be divided up among the seven members of the family. Recently he had been doing a little hawking. ■„■•„, Examined closely by Mr istacey, bankrupt became angry and gesticulated considerably'. "You're' open, Mr Watts, to a very vigorous examination on. account of your vagueness,", said Mr Stacey. "Where are you actually living in Bowhill road?"—"I don't know the numWhat is the next house like?— Two are similar, only one has a slate roof. This was as far as the bankrupt could go with regard to identification of the house, beyond stating that he could take. the' creditors to the place. Mr Stacey : Is hot yotir .house barricaded'up so that nobody can enter it? —No, and if you can prove it in writing. .. ! ■ : . .- ■ Here . the bankrupt was called to order bv the Official Assignee. Mr Stacev asked the whereabouts ot. Watts' former partner, and Watts replied that he thought he was in .Wellington. , . Asked what assets were possessed by his wife, bankrupt replied that there Mr Stacey suggested that Mrs Watts should attend the next meeting of creditors, as she must have some idea Of bankrupt's financial affairs. This was agreed to, and the next meeting of creditors was .'faxed tor Monday morning next.