CREDITORS' MEETING

Evening Post, Volume CXVII, Issue 82, 7 April 1934, Page 14

CREDITORS' MEETING

POLICE ACTION REQUESTED

(By Telegraph—Press Association )

PALMERSTON N., April 6.

Nearly fifty were present at a meeting of the creditors of John Robert Mcllraith, agent, held today, when a resolution was passed requesting the district official assignee to place the whole matter in the hands of the police.-

According to the evidence tendered, tho bankrupt, after incurring considerable liabilities in Wellington while a salaried debt collector, came to Palmerston North eighteen months ago and although, on his own admission, practically insolvent at the time, commenced a debt-collecting business oii his own with a capital of £.34. He re; cently filed a petition with a deficiency of over £1600 owing to nearly 300 creditors, chiefly persons for whom he undertook to collect debts.

The creditors are resident over a. wide area covering Palmerston North, Feilding, Foxton, Rongotea, Dannevirke, Raetihi, Taihape, Hunterville, Mangaweka, Johnsonville, Otane, Waipawa, Pongaroa, Pahiatua, Shannon, and elsewhere.

The bankrupt was subjected to a leDgthy examination. He attributed his failure to lack of capital and the hard times.