BANKRUPT GROCER

Evening Post, Volume CVIII, Issue 62, 10 September 1924, Page 2

BANKRUPT GROCER

BUSINESS AFFAIRS INVESTIGATED

AT PUBIJC-EXAMINATION.

The business affairs of a grocer, Alfred Eaton Mailman, of Island Bay, a bankrupt, were investigated at the Supreme Court 10-day at a. public examinaGregorf °re WS HpnourMr- J«^ice Mac-

H^nffi 0: i°\ ¥azengarb appeared for he Official Assignee (Mr. A. S TansStofa,^ Ci A' L- Treadweii "S----sentea the bankrupt Examined by Mr. Mazengarb, bankrupt, in evidence, said he'started tari T VS. ¥ &ni Bay » FebruaS; 1922 Ibon^fh-^ 611 at th\g™ery*& for ot Zid fi , yefß> about sixteen y««« QL which he had spent as an assistant, ovpr PPm "iTT with a of £7m % ••aUd hIS deflcifc was Bh°wn at lam .™l. w "cant he had lost over *<uuu in his business in two years He usually estimated his gross profit at ll per cent.,, and this meant that he should imv e shown a profit of at least £300 •fV lai? llgarb: "There was tie £280 capital, £300 profit, and . £703 . deficiw? y>. P akl "S a total of about £1300. What has become of this money?" Witness. «i don't understand you. Kindly put the question a little plainer, i don t see. how I have got £1300 to account for."

Further examined, witness ; said that he had four children, whose ages ranged from 26 years down to 15 years ■ l\vo sons were working, and one daughter who y,az employed in the business, received hi per week and her board. This lett his wife and one child to be supported None of the members of the lamily had any assets of any kind—none ot them to his knowledge had banking accounts. There was only, the household furniture. For his own use he had not drawn more than £300 from the business during the two years. He denied mat there was more than £1000 unaccounted for.

_ Mr Ireadwell interjected ' that his lnend was only confusing the witness. if counsel had examined the accounts he must have known that there was nothing- like that sum unaccounted for. -Prior to the balance being taken out in October, 1923, witness said he did not know his real position. He promised Moore, Wilson, and Co., Ltd! that he-would stop any leakage—they had suggested that there was a leakage. Witness did riot know how much stock he carried. He did not know whether or not it was ever over £300. His Honour: "Surely, as an.experienced grocer, you knew how much stock you were carrying, approximately ,at least. ,

Witness : '!I don't know; so&it's no good my saying." Counsel continued to examine witness mi this point, and put it to.him that he had never carried any more than £300 worth of stock in the shop at one ti*J..: v

His Honour: "It's no good going oh in this way, Mr. Mazengarb. He either doesn't know or he won't'tell you." Cross-examined by Mr. Treadwell, witness said. that when he started his shop at Island Bay he had just left Karori. The sum of £169 8s lid" was still owing on the Karori business, and during his activities at Island Bay he paid off his Karori debts. The position came to this: that he really commenced business at Island Bay with a capital of. v £so, and the amount unaccounted for was £248 8s 2d... He agreed that Moore, Wilson, and Co. had put him on his guard against leakages. '■ "' Wo further questions were put to the witness,, and his Honour said that the bankrupt's affairs had been sufficiently investigated. He accordingly declared the public examination to be finished.