BANKRUPTCY.

Dominion, Volume 1, Issue 75, 21 December 1907, Page 8

BANKRUPTCY.

■MEETING OF THE CREDITORS. V The affairs of Walter Honry Hewson, grocer, of Petone, ivcre investigated by the Official Assigneo (Mr. James Aslicroft) yesterday morning. ■ Tho. bankrupt's statement of finances showed that tho liabilities 'to unsecured creditors amounted to £35-1 2s, sd. There were no secured creditors.' Tho assets were: Stock in trade, .estimated at £60; book debt's, estimated to produce £132 6s. lOd.; cash in hand, £7 55.; 5d.; total estimate of assets, £199 12s. 3d., leaving a deficiency in tile estate of £15J: 10s. 2d. Under examination by tho Official Assignee, tho debtor stated that ho entered into business in , partnership ' with William • Martin Shore on April 23, 1906. The partnership r,-as dissolved in 1906, and during that period all- liabililis had been mot.' Payments to bankrupt's partner were made in cash and goods supplied. Bankrupt attributed his failure to-keen' competition and the dishonesty of an employee. Losses on account of bad debts and pressure of creditors had forced him to file. Ho liad endeavoured .to arrange a composition, , hut owing to the action of one of his creditors in taking' out a summons.' tho negotiations had fallen through. Bankrupt was married and had three children, aged two and a half, eight,' and thirteen years respectively. He was now employed as grocer's assistant by A. W. Bodon, of Petone, at a salary of £2 10s It was stated that Bodcn, of Petdne,'and Smallhone, Grnco and C!0.,-of Wellington would probably put in . tenders. Tliero also a horserand harness valued at £13. 'Tho meeting was adjourned sine die. Tenders in the- estate w'ill close at 11 o'clock to-day. - >