MEETING OF CREDITORS.

Evening Post, Volume LXXV, Issue 35, 11 February 1908, Page 7

MEETING OF CREDITORS.

The first meeting of the creditors of Henry Guest, painter and decorator, of tho Lower Hutt, was held to-diiy, Mr. J. Simpson, deputy Official Assignee, presiding. The bankrupt in bis statement said he started Business at the Lower Hutt in May, 1904. At that time he had nothing of his own excepting household furniture and effects. He had some time ' previously borrowed £220 from his father. At the time of starting business £100 of that sum was secured to him by a second mortgage over a property in Dunedin, and the remaining sum of £120, together with £28 advanced by his wife, was expended in buying stock in trade and plant for commencing business. The sum of £100 secured ov mortgage came in by instalments, and was laid out in keeping up stock, and in business generally. He did fairly well for a start, but in January, 1906, ha took a shop on the Main-road, Lower Hutt, and nad consequently to increase his stock. He found it hard to get in his book debts. On several jobs he lost heavily. Money from contracts coming in slowly, ho was compound to take promissory notes, many of which were dishonoured. That increased his difficulties, and he got behind with the merchants. He had gained ground during the past year, but had been hampered by the large amount owing to him and the large stock he had to keep. Tho liabilities wera set down at £525 11s 8d; assets, £405 16s Id, leaving a balance of £119 15s 7d. After some discussion, it v/as agreed that tenders be invited for the stock, and that if no satisfactory tender ia received, the stock be sold by public auction.

"Little Tich" (whofe real name ii Harry Relph) recently declined an offer of £200 a weok to appear at Blackpool. He subsequently made a contract for £250 .a wieek,