BANKRUPT AGENT

Dominion, Volume 27, Issue 163, 7 April 1934, Page 8

BANKRUPT AGENT

Meeting Advises Police Action NEARLY 300 CREDITORS By Telegraph.—l’rcss Association. Palmerston North, April 6. Nearly 50 were present at a meeting of the creditors of John Robert Mcllraith, agent, held to-day, when resolutions were passed requesting the district official assigne_e to place the whole matter in the hands of the police. According to the evidence tendered, bankrupt, after incurring considerable liabilities in Wellington while a salaried debt collector, came to Palmerston North 18 months ago and although, on his own admission, practically insolvent at the time, commenced a debtcollecting business on his own with a capital of £34. Ho recently filed a petition with a deficiency of over £l6OO owing to nearly 300 creditors, chiefly persons for whom he undertook to collect debts.

The creditors are resident over a wide area covering Palmerston North, Feilding, Foxton, Rongotea, Dannevirke, Ractihi, Taihape, Hunterville, Mangaweka, Johnsonville, Otane, Waipawa, Pongaroa, Pahiatua, Shannon, and elsewhere. Bankrupt was subjected to a lengthy examination. He attributed his failure to lack of capital and the hard times.