A meeting of creditors in the bankrupt estate of Cameron Abercombie Pearson, engineer, Wellington, waa to have been held at the, office of the Official Assignee (Sir. S. Tansley) to-day, but lapsed for want of a quorum. ; . ■■ The statement of accounts showed: Amount owing to unsecured creditors £428 16s; book debts, £218 15s Id; estimated to bring in- £200; cash in hand, £43; total assets, £243 Os 9d; deficiency, £185 13s 3d.
In his sworn statement, Pearson said that he started business in Foxton with a partner in 1924. The partnership was dissolved in November, 1925; he then carried on business on his own account till February, 1929. They originally started with a borrowed capital of £38$ for plant and £115 for stock. The installation of electric power in the district altered the conditions considerably, and part of the plant was idle for the greater part of the year. The whole business was reduced to a great extent by opposition. He was pressed for rent, and was not given enough time to dispose of his business profitably, and was forced to file.
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BANKRUPTCY, Evening Post, Volume CVIII, Issue 105, 30 October 1929
BANKRUPTCY Evening Post, Volume CVIII, Issue 105, 30 October 1929
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