Page 3 Advertisements Column 3

Evening Post, Volume LXXXIII, Issue 154, 29 June 1912, Page 3

Homy Shotlander, ex-hotelkeeper, bankrupt, made tho following statement of his reason for tiling when before the Official Assignee (Mr. A. Simpson) yesterday:—"! purchased Hastie's Hotel, Foilding, on 4th July, 1910, from Mr. T. O'Neill on the representation of trade of £130 to £140 per week, borrowed £900 from my wife and the balance from Levin and Co., Speight and Co., and Dwan Bros. After I had taken possession I found that the takings had been misrepresented, and at the start averaged £70 to £75 per week." A good deal of the furniture was missing, the debtor proceeded and it cost him a considerable sum to replace it, and ho sued O'Neill for a return of the plate and furniture taken away. He paid £26 and returned a .quantity of plate, but this did not compensate debtor for what he had to make up. The trade being so bad, the mortgagees, Levin and Co. and Speight and Co., wanted a considerable reduction of their advances, and they asked him to pay about £100 per month, which was found impossible owing to th© dullness of trade. As ho could not pay these instalments, they demanded thenmoney, and threatened to sell under their mortgages for the amount owing. Debtor was therefore compelled to sacrifice the hotel after being in ib for about eight months, and sold it for £3000 (it cost him £5000;, the money being used to repay loans. Unfortunately lie was unabl& to pay the balance of £2000 to O'Neill, which was coming due provided prohibition was not carried at the election of 1911. The meeting was adjourned sine- die. , Wo have pleasure in bearing testimony to the good style and reliable wearing qualities of Warner's Rust-proof corsets. Wellington drapers.— Advfc, For children's hacking coughs nl night, Wouda' Otfut fcvi>crujUt (.jilt, la 6U.—