BANKRUPT TO STAND TRIAL.

Dominion, Volume 3, Issue 819, 17 May 1910, Page 7

BANKRUPT TO STAND TRIAL.

FEILDING CASE. (By Tileeraph.—Special Correspondent.) Palmerston North, May 16. Albert G. Steward, tailor, of Feilding, was charged at the Magistrate's Court, Palmerston, to-day, with committing a breach of the penal clauses of tho Bank- ■ ruptcy Act, by incurring debts to tho amount of .£450, without any reasonable expectation of being ablo to pay. H. N. Cooke, accountant, handed in a list of liabilities which it was alleged had been excluded from balance-sheets supplied by bankrupt to Dickerson ■ and Co. in July, 1900. The list totalled i960 17s. 7i!. A statement wos also prepared showing the position disclosed by the debtor's balance-sheet of 1909. Compared with his actual position on the date of bankruptcy on December 17, 1009, it showed a shortage of £635 18s. 4d. From proofs of debt, witness had prepared a comparative statement, showing debts contracted during August, September, October, November, and December, and Ihey included the items which made up the total in the information. In one of debtor's July balance-sheets, ho stated that he had stock to the value of .£1379 19s. 2d. An approximate account of his trading up to the date of his bankruptcy from July showed that, if his stock was correct at tliat. tinii, he lost os. 2d. Adding the net profit he mentioned in his public examination, the loss would have been J660 lis. Od. Witness had not been able, from bankrupt's books, to find what stock he had in hand in July. In the July balance-sheet the North : Street property was valued at .£l6lO, and the book value was £1485 •19s. 6d. Tho Manchester Street property wos entered at £2250 in the balancesheet, and the book value was £2060 Ills. sd. The fittings and plant were valued at £247 35.; the book value was £197 3s. Accused was committed for trial. Bail was fixed at £100 on accused's own recognisance.