BANKRUPT BUILDER

Evening Post, Volume CVI, Issue 51, 7 September 1928, Page 11

BANKRUPT BUILDER

LOSS ON CONTRACT

A meeting of creditors of Herbert Cromwell Culver, carpenter and joiner, was held before the Official Assignee (Mr. S. Tansley) to-day. Unsecured creditors were shown at £434, and secured creditors at £50. The deficiency was £335. The largest | unsecured creditors were: John Duthie and Co., Ltd., £182; Evans Bay Tinii ber Co., Ltd., £135; Smith and Smith, I Ltd., £38; Gasco Pressed Bricks Co., Ltd., £25; and Esmos Timber and Hardware Co., £20. In a sworn statement the bankrupt said that up to 12th May, 1927,- he was working for a wage of £5 10s a week, but at that date was put off work, and was out of employment till 9th July, 1927, when he obtained employment at £6 Is a week, the employment .lasting till 18th Octobeiy 1927. In January last he contracted to build a six-roomed house at Miramar, but he considerably under-estimated the cost. He was laid up with illness during part of tho time the work was in progress. For the past two months he had been out of work, but he had work in view now. The bankrupt, who said he was a inuriicd man with a family of two children, said he was paying £1 10s a week house rent. ■ As long as he was in employment he would pay as much as he could afford towards liquidating his debts. In reply to questions the bankrupt said that he had lost £300 on an £800 contract. An extra room was added to a house, but the contract price was unaltered. Ho had to do that, or be idle. ■ "That's extraordinary," commented the Assignee. After further questions had been addressed to the bankrupt it was decided to adjourn, the meeting a fortnight in order to give him an opportunity to prepare a full statement of his receipts and payments. The Assignee was empowered to deal privately with the sale of a motor-car belonging to the bankrupt.