COAL-DEALER'S FAILURE

Evening Post, Volume CV, Issue 23, 28 January 1928, Page 29

COAL-DEALER'S FAILURE

jVIEETING Ol'1 CREDITORS A meeting of creditors in the bankrupt estato of Edward Thomas Warnc, coal dealer, Wellington, was held at the office of th,e Official Assignee yesterday. Mr. S. J. Dudson, of the Official Assignee's staff, presided. 1 Mr. W. B. Brown represented bankrupt. The creditors present were: —J. A. Redpath and Sons, Ltd. (A. G. Monro), Blackball Coal Agency and John Mill and Co. (C. T. Turner), George H. Scales Pacific, Ltd. (J. A. Frost), and Samuel Brown (Mr. M'Clurg). The statement of accounts showed: — Unsecured creditors, £308 14s sd; estimated value of assets, stock-in-trade £186 7s 3d, book debts £59 13s 2d, cash in hand £9 6s. The estimated deficiency was £53 7s Gd. In his sworn statement bankrupt said that with reference to his downfall in the last eighteen months he had had to carry on business with a supply' of coal of from only ten to twelve tons per week, as he was unable to obtain a bigger supply; also, his weekly overhead expenses amounted to approxi- [ mately £14. He carried on business thinking that matters would look up, but ho continued too long. The fact that his rent had been increased added to his difficulties. The meeting was adjourned sine die.