HOTELKEEPER BANKRUPT.

Press, Volume LXVII, Issue 20225, 1 May 1931, Page 6

HOTELKEEPER BANKRUPT.

ADJOURNED MEETING OP CREDITORS. dissatisfaction expressed. -That this meeting of creditor e*presses dissatisfaction ab tie conduct of the bankrupt m connexion with his business, and suggest* to the Official Assignee that he should consider the question of taking further action against the bankrupt This resolution w*. passedan adjourned meeting of creditors in the , i i. totn «%f John Arthur Beale, office of the Official Assignee .(Mr. J. Mr (1 A 0Con»«l. The «»' meeto, e was held on February 19th. The Official Assignee said that after investigation the total debs were shown as £1419, but the proved claims amounted to £1869. The , amounted to £7B, being the amount received by the bankrupt as theresut r>t a sale of stock-in-trade. A further amount of £9O would yet come to hand. Any dividend from the estate would bp a small one. .. A report from the accountant, Mr S. P. Godfrey, who had investigated the bankrupt's position, stated that insolvency had been caused by lack ot ability, no knowledge of hotel-keeping, and racing losses. It appeared that bankrupt's books had been kept as well as it was possible for an accouiifcanv to keep them when dealing with a person who had no business knowledge. Statements had been prepared as follows:—Profit and loss account from May. Ist, 1930, to January 16th, 1931, 'showing a loss of £971 fis 8d; capital account for the same period, showing capital account overdrawn_ on January, 16th, 1931. by £955 Is Id; statement of r.'cing winnings compiled from the New Zealand Turf Register, showing winnings from April, 1928, to January, 1931, as £897 los sd. In reply to tho Official Assignee, the bankrupt said | that lie had never worked out his profits. Ho had left that to his accountant.