VENTURE THAT FAILED

Evening Post, Volume CVIII, Issue 14, 16 July 1929, Page 11

VENTURE THAT FAILED

t m1?!S?s to Col>sider the affairs of James O Shea, bankrupt cordial manufacturer, of Wellington, was held this morning, the Official Assignee (Mr. S. Tansler) presiding. Mr. J A. Belcher represented the bankrupt and Mr. V. F. Coningham. the only creditor, William Huston. fieln c cyBt ofem£%. O£ aCCOUDtS * de"

In his sworn statement the bankrupt said he borrowed some money to buy into bimmonds- and Osborn's business, which he later repaid by borrowing £200 from Mr. Ruston He was unable to keep up his payments, however, and lost his interest in the business. The money owing to Kuston had been reduced by £50. Ruston sued him and obtained judgment against him, and then later, in pursuance of-a commitment warrant, he was arrested io avoid imprisonment he filed his petition m bankruptcy. He was .now earn- ?"/, f 4 12s <5d a week, out of which he had to pay £1 15s a week rent and support ins wife and young child Questioned by Mr. Coningham, the bankrupt said that except for six or seven —^- af uer l eaP? s Simmonds and Osbom m 192 a, he had been in constant employment. His wife went to work, but he was not aware what she earned. The bankrupt said he would make an application for a refund of about £80 °r £9° £c had Paid into the National Provident Fund for the benefit of his creditor.

It was agreed that the Official Assignee should make some inquiries of the amount tne bankrupts wife is, earning. The meeting was adjourned sine die.