NO ASSETS

Evening Post, Volume CXI, Issue 77, 1 April 1931, Page 15

NO ASSETS

BANKRUPT PASTRYCOOK

Having already faced two meetings of creditors,-' William Ernest Grantham, a Wellington pastrycook, faced a third meeting yesterday at tlie office of the Official Assignee, Mr. S. Tausley. Debts to unsecured creditors amounted to £709 11s 4d, and those to secured creditors £933. The value of securities amounted to £75 only, and, as there were no assets, the deficiency amounted to £1567 11s 4cl. In his statement the bankrupt- said that he started in the pastrycook . business in Lower Hutt twenty years ago. His son took over the business,, and he ■worked for him on wages. Eighteen months ago bankrupt- opened in partnership in Hastings, but that venture lasted only a few weeks. Shops were, then opened in Courtenay place and Cuba street, but business was not good. At a meeting of creditors an offer was made, but was not accepted by one creditor, hence he was forced to file. The Official Assignee, when bankrupt admitted that practically all his debts had been incurred during the last twelve months, remarked: "You seem to have been having a rood time all round, getting credit on all sides." Bankrupt admitted that it would have been better if he had closed down before. "The man has been a sheer muddler, and should never have been in business on his own without supervision," remarked one creditor, who said that he had • previously tried to get the bankrupt's position put on a sound footing. None of the creditors present being prepared to move any resolution, the Official Assignee adjourned the meeting sine die, remarking that it did not seem .as if bankrupt would ever be in a position to pay anything.

The Commissioner of Crown Lands; Wellington, will offer for sale sections in the town of Birchville Extension No., i this evening at the Conference Hall, Dominion Farmers' Building. Particulars are advertised in~this issue. • , . In the yeaz ended. 31st March, ,121 building permits, representing £43,264," wore issuod in Upper Hutt,.compared ■with 173 permits, representing £75,567,j ia the preceding year. .. .„. .