BANKRUPT EXAMINED

Evening Post, Volume CIV, Issue 1, 1 July 1922, Page 8

BANKRUPT EXAMINED

. ■ HIS SIDE OF THE STORY, FINANCING A SECOND BUSINESS. No finality was reached in the public examination of the affairs of John Joseph, • recently proprietor of the London Drapery Store, Bona Bay, by Mr. Justice Hosking at the Supreme Court yesterday, for after bankrupt had been examined, further proceedings were adjourned sine die. Mr. C. A. L. Treadwdl appeared for Joseph, and Mr. H. E. Evans for the Official Assignee, Mr. S. Tansley. Under examination by Mr. Evans,' bankrupt said that when ho first took over the' business at Rona Bay, he had intended that his wife should mind the shop while he w/eirfc ont canvassing, but he found {hat ho could not do that as ho could not trust her, and so had to remain in the store to supervise. Tho creditors in liis first business;, the Wellington Hat and Cap Company, had encouraged him to stint at Rona Bay, and for a time ho did pay off tho £3 duo under £he agreement. He believed that he had not.actually lost ovejE the ! store, and of. the £65 he had borrdwed, 'he had repaid £40. The lease of the I premises had been taken in his wife's I name, though she had no money in the business, and in vie-w of that latter fact tho action1 takeu against her in the Magistrate's Court should not have been taken.

Questioned as to his dealings with the bank, bankrupt said that as time ■went on he was continually pressed for money,' and had not time to deal through the bank, and so paid in cash. ' -"Why was your partner in the first business called on to pay so much less than you?"—" Because he had nothing. The only way I'could get into business was to undertake to pay off the whole of the debts."

"When you proposed to obtain goods from the Kaiapoi Company, did you say that you' had ' £105 capital and was going to buy a section and shop at Rona Say?"—" That is pure ation. ... The Commercial 'Agency knew too much of my affairs and; -had ■I told falsehoods to gny business man, .I would have been exposed quickly."

"Did you tell the representative that you had debts of £600 ?"—"!; did not Sunk it was necessary, so many knew of it." ■■■:■■ ;'■■'■- •-'■ -■-. ■- :' „< .

"Did you say that ycu had to pay £3 per week?"—" No." . ' ; Questioned as to the system of bookkeeping followed,' Joseph said that, he had employed an outsider, who made up the .books from slips, invoices, and receipts/ The work was not well done, and when the books were returned to him he found many items not entered

Up. ■.-■;■ ■.■■ . ■ To his Honour: "I was so bustled for money that when I got a few shillings together I sent them ou£ io my creditors, and: I also returned goods to same creditors." -."■ ■' - : ' •

Bankrupt alleged thai Ids wife had taken £105 from Ms pocket between Christmas and New Tear, and Had absconded, though £80 had been recovered the same day. He denied,.; that he gambled or drank heavily. -,-" . Mr. Treadwell remarked that the wife had admitted having had some of the money, about £80, and having returned £65 of.it, : . :

Mr. Evans: " Yon Enow your wife said that yon had hidden away four cases of goods. Have you surrendered all your assets?"—" Absolutely. The' four cases -were taken by:the Assignee." After the bankruptcy he and his wife had been living apart, continued Joseph, and during His absence his wife had senta lorry round to Rona Bay and stripped; the house of furniture, not even leaving a bed, arid also taking some new stock which he had obtained to hawk in Eastbourna. ' '„,.' _ Ho had changed his name to Joseph, he said, because Littauer Ahad a German kriound about it. He did not think that "the falling prices of goods had. brought about- his faihwe, "bat considered , that one of the main reasons was that' he had ■been robbed by his wife, not only of money, but aJso of goods, but he had not said so to the Official Assignee, as he did not wish to blacken his, wife's I character. ....■'.. v . .;■ " ,'.'. Mr. TreacVell .pointed out that though the creditors had made serious allegations against bankrupt, not one of them had made an official appearance before the Court, leaving the whole matter to the Official Assignee. Mar. Evans replied that the proceedings were in accordance with the resolution adopted at the meeting of creditors, and that bankrupt's creditors were properly represented before, the Court. The case may be brought on again at' three days' notice. • „ ...■.)