A BAKER'S AFFAIRS.

Dominion, Volume 3, Issue 770, 19 March 1910, Page 13

A BAKER'S AFFAIRS.

COMPLAINT BY THE CREDITORS. A meeting of creditors in the estate of Daniel P. ©"Sullivan, baker, Muritai, was held yesterday. Mr. Stafford appeared on behalf of the bankrupt. Debtor, in Wβ sworn statement, 6aid that in the month of July last ho started business as a baker at Eona Bay, using a bakehouse erected by his wife on the cottage property occupied by them as a dwelling. The bakehouse was erected by his wife out of money, raised by her. on the security of the property. At the time he had no capital, but his prospects appeared to be bright. Hβ found himself severely hampered by the want of capital and on account of the difficulty in inducing customers to pay cash. In December last his youngest child 'fell ill and died. This misfortune completely prostrated his wife, and having no other assistance he was unable to give the necessary attention to the working up of a new business.

Bankrupt's position was shown to be as follows:—Debts (unsecured), ,£B4; assets, £19 9s. 7d.; deficiency, '£64 15s: The principal creditors were: Laery and Co., £22; Brewer, Pulton and Co., £29; A. S. Paterson and Co., £17. Replying to further questions debtor stated that his wife purchased the property prior to their marriage. She raised the money to build* the dwelling on the security : of the land, and later also borrowed for the purpose of erecting a bake-house. Mr. . Fulton, for Messrs. Brewer, Fulton and Co., eaid that debtor had told their firm that the bakehouse was his own and that he was raising another loan. Upon these statements he got credit from them. Mr. Fussell, on behalf of Messrs. A. S. Paterson and Co., said that debtor represented to them that he had an equity on the Property amounting to £270. They let im have one and a half tons of flour, which had never been paid for. It looted as if he had obtained the goods under falsa pretences. Debtor appeared to have come to them only when he could .not go anywhere else. Debtor: I did not give you to understand that the place was my-own , .

The Official Assignee: I shall have a close scrutiny made; it does not look too { promising for the creditors. What appears strange is that two of the creditors could have come to a wrong understanding. ' .'■■',,■ Mr. Fussell said .that debtor had told Mm that he had previously worked- for a Mr. Rothwill, who was a valued ■ customer of theirs. As debtor (he alleged) also . told them that Mr. Eothwill had ,sent Mm to them, they had done more for him than would otherwise have been the case: Inquiry from Mr. Rothwill, later, was not 'so satisfactory. Debtor: I never told you that he sent me to you. '• * Replying,to a question, debtor remarked to the Official Assignee that he was eure ho never told anyone that he was raieins any money himself. . • • ■■ ■ The Official Assignee: Well, you should have said nothing about a loan. It seems I to me just now as if you made some. statements which induced the oreditors to give you credit. ! What bools did you keep?— Only .the ordinary baker's books. Have you any cash in hand, or furniture?— No. . ' ' ';■■ Mr. Stafford, for debtor,, remarked that the: land and buildings were sold last Wednesday. Hβ went on to , say that it was a rather common thing for a man to talk ■ about his wife's property as if it were his own. . ■■ • .: '■: Mr. Fulton: That is just what we want to have stopped; there is too much of it. 7 Mr., Stafford: Well, I am sure any criminal proceedings would fail in this instance. ■ . ■: ' v . The Official Assignee: There has been no talk of criminal proceedings; of course it might happen that I might find that I might have to go further. If what the croditore say is correct, then debtor either committed a grave error or made himself liable under the Act •■■ " .■'■•. It was decided that ■ debtor's tools of trade should ba auctioned. . The meeting then; adjourned Bine die.