HEAVY LOSSES.

Press, Volume LXV, Issue 19544, 14 February 1929, Page 3

HEAVY LOSSES.

HAIRDRESSER'S FAILURE. A meeting of the creditor* of Willi** | John Gitteaa Kingston halntreaser, of j 43 Thackeray street, Waltham, wn* j held yeaterday, whan the Oftclal A»- J rigaee (Mr A. W. Wattera) preaidwL ■ The debts to unsecured creditors amounted to £375 9s ©Jd-» and tfcn j sett, comprising atock-in-tmda, «r» j valued at «1«0 Ss 5d- The deficiency j 'was £215 Ss.6JdThe Assignee said that the irttlsty 1 would be ureater, as the stock-in-trade j was ■ over-estimated. 1 The principal unsecured creditors , were: —Gordon and Goteh, stationers, j £27 14a lid; F. Wise, hairdresser, £l3 , 2s: Bing, Harris and Co., Ltd-, £153 ; 1* sd; Dr. M. Gray, £lO I>**id I Kings land, labourer, £ls; B. Derby . shire, hospital attendant, £SO; E. G. ? Kingaland, plasterer, £lO- - said that when he started j business in 1*25 he had a capital of : £320, and *i»ee then hmd >o«t I A sum of £3O was spent in fitting < the shop up for a start, £S7 9i 6d for t stock, £lO for books, £25 *• * machine, and £M for a chair. IHmm and the necessity for employing an as i sis taut had cost him money. , Mr Walters pointed out that by the | time expenses were paid there woe® ; be very little for the creditors. "J** J dividend will be very small," he added, "so now the creditors want some explanation of the lasses-** Questioned, bankrupt admitted tfc» _ he had paid very little for doeuws* fee*. He had, however, feeen ill f« eight week*, and this had cost him £4O in wages. The Oflieial Assignee said that it was evident that he had had fraat losses or else some extravagant per- J Bona I habit that had cost him more than j £3 10s a week in additioa to hia W j -I am not going to mince mamrs,' a creditor declared. -He's boe. hav- t ing a darned good time at everybody j else's ' expense." Asked if he went to the races often, < bankrupt said that he had been lo six race meetings ia three years. It had not cost him much money. In drink , he had spent 5s a week at the ontmde. Mr Walters said that he thought it was a ease where bankrupt had not looked after his business properly. It was not a ease in which he should be _ promoted, but he thought some ©bjection should be made to an immediate order of dischargeIt was decided that the bankrupt s discharge should be oppose*! until 2* 6« ' in the pound had been paid off