A SLUMP CRASH
MERCHANT'S TROUBLES
SYMPATHETIC CREDITORS
(By Telegraph.—Press Association.)
AUCKLAND, This Day
A statement 4 which tho Official Assignee described as illuminating was presented to a meeting of creditors by Benjamin , Irwin Bollard today. His debts total £2225 and assets £2853, leaving a nominal surplus of £628. The statement showed that he was a successful provision merchant from 1906 to 1914, when ho sold his business, and was independent from 1915 to 1924. He successfully engaged in a land and commission agency as a sideline in 1925 and 1926. He built fifteen workmen's homes and sold them for £750 each. Between 1927 and 1930 the purchasers were vacating the houses, while his rates and taxes were increasing. In 1930 ho called his creditors together. He then showed a surplus of £17,000. Since then he had incurred no debts. He attributed his position solely to the landslide of property values. The creditors, who were sympathetic, requested the Assignee to facilitate the bankrupt's discharge, and returned to him his office furniture and car.
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https://paperspast.natlib.govt.nz/newspapers/EP19331205.2.84
Bibliographic details
Evening Post, Volume CXVI, Issue 135, 5 December 1933, Page 10
Word Count
172A SLUMP CRASH Evening Post, Volume CXVI, Issue 135, 5 December 1933, Page 10
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