CHINESE BANKRUPTS

Dominion, Volume 19, Issue 286, 17 August 1926, Page 6

CHINESE BANKRUPTS

merchants annoyed by TELEGRAPH.—PBBSS ASSOCIATION. Hamilton, August 16. Strong comment was made at a mectof creditors to-day on the large "umber of Chinese bankruptcies tidnch have been occurring and the unsatistac tory position in which creditors are left The creditors in the bankrupt estate of Wing Lee, a Chinese fruiterer, of Hamilton, are not at all satisfied. To-day thev held their third meeting to inquire into his affairs, the previous two having been adjourned toena ble him to furnish a statement. His debts were shown as being £631 19s. 3d ana the. assets were estimated to realise £176, including stock at £l5O. . Mr. Robinson, of Palmerston North, one of the creditors, said that in iour months, according to bankrupt s books, he paid £876. He had thus been paying out £st a week, apart from the rent, which he had not paid. According to the turnover lie had been doing good business, ami it was incredible that lie had lost £ll a week. Another creditor said that Chinamen were simply laughing at merchants. It was openly declared that Chinese bankrupts always got out of it. Mr. Hughes said the better. class of Chinese merchants were anxious that some of the less honest ones should be convicted. 'flic Deputy Official Assignee expressed the opinion that it was time merchants dealing with Chinese and Hindus asked the Customs Department to afford them some sort of protection. How this was to be done he could not say, unless it was by some system of registering them when in business. Tt was decided to recommend the Denutv Official Assignee to place the matter in the hands of the Crown Solicitor.