A GROCER'S FAILURE

Evening Post, Volume CIV, Issue 48, 25 August 1922, Page 8

A GROCER'S FAILURE

SECOND MEETING OF CBEDITOBS.

A further 'meeting of creditors in the bankrupt estate of John Francis Bahpr, grocer, of Moxkam avenue, Kilbirnie, took place this morning for the purpose of presenting the creditors with a more definite statement of receipts and expenditure. Mr. S. Tansley presided, and Mr. CV B. O'Donnell represented the bankrupt, who was present.' The list of unsecured creditors totalled £522 12s 2d, the chief creditor being Miss .A. M. Barry with an amount owing'of £295. The book debts amounted to £22 13s 9d, the stock in trade £135.

A creditor thought the position unsatisfactory, .as £50 had disappeared every week, and that wa« an enormous amount. Creditors should know where that money had gone. The balance-sheet should have been drawn up for the first meeting, but was not even produced at this further meeting. It was suggested that the bankrupt be put up for public examination. Mr. C.-'B. O'Donnell, for th« bankrupt, said that the man's inexperience and ill health had brought him to this pass. He was a hard-working man, and the discrepancies in his figfures were not due to any dishonesty on his,part. He thought a public examination would serve,'no good purpose in this case. The bankrupt, on being questioned, said he had been selling goods at less than the purchase price in order to gain custom. He was ill-advised to go into the business,' as he was completely inexperienced and had no knowledge of the keeping of books. On behalf of Miss Barry, Mr. E. W. Stewart said he thought that no public examination should be made.

Mr. C. B. O'Donnell thought it was a case of genuine bad luck and hardship, and hoped that the business would be finished \to-day as.the bankrupt was oh the verge of a nervous breakdown. It was resolved to adjourn the meeting sine die. J, ■ •