DEPRESSION BLAMED
Merchant’s Bankruptcy
SYMPATHY OF CREDITORS By Telegraph—Press Association. Christchurch. May 7. The fall in the price of wool and land values and the fact that the business depression had caused him to. put all bis private assets into the business of William Goss Ltd., timber merchants, were reasons given for his bankruptcy by William Goss to-day. The deficiency was estimated at £6700, with £20,000 owing to secured creditors and £2700 to unsecured creditors. The bankrupt said he had invested over £9OOO in a farm in Marlborough. The farm did not pay and was taken over by the mortgagees last. December. His timber firm had been hit by stagnation and depression. Goss said that a few years ago he was a comparatively wealthy man. The official assignee and the creditors expressed sympathy, and a resolution was passed that the bankrupt be allowed to retain furniture and effects to the value of £6OO.
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Bibliographic details
Dominion, Volume 24, Issue 189, 8 May 1931, Page 11
Word Count
153DEPRESSION BLAMED Dominion, Volume 24, Issue 189, 8 May 1931, Page 11
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