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THE BANKRUPTCY ACT.

At a meeting of tho creditors of Andrew Graham, ex-member for Gisborne, bankrupt made a statement that when in business with Kinross (of Napier) the firm lost considerably over bad speculations, and when the Glasgow Bank failure came had to realise all its assets. Since then he carried on business and lost considerably by depreciation in the value of property, and as surety for a large contract, besides losses in trade and by fire. He had given up alUo his creditors, leaving his wife and family destitute. Debtor, in explanation to the solicitor for tho Assets Company, Edinburgh, admitted that L 9,590 set down to the company had been expended in the above losses. He was not authorised to use any part of this L 9,500 of the Asset Company’s funds. Ho was acting as the company’s attorney. Ho did not disclose to the company that their money was being used in that way. A motion was carried that the debtor have back his furniture, valued at L 250. The meeting adjourned nine die.

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Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/ESD18891105.2.39

Bibliographic details

THE BANKRUPTCY ACT., Issue 8056, 5 November 1889

Word Count
177

THE BANKRUPTCY ACT. Issue 8056, 5 November 1889

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