COMPANY BANKRUPT
SHAREBROKERS OF MELBOURNE EXCESSIVE DRAWINGS AND LOSSES Press Association—By Telegraph—Copyright MELBOURNE, June 23. A bankruptcy petition was lodged on behalf of Ward and Co., sharebrokers, of Melbourne, to-day. The petition set down liabilities at £79,861, and assets at £2,394, with the deficiency at £77,467. ’ ' The petition was filed by Clarence Royal Curwen and Alfred Keith Ward, two of the firm’s three partners, who stated in an affidavit that the firm was now in fact bankrupt, the cause being excessive drawings and losses in carrying on the business. A statement shows that £31,106 is owing to the .Bank of Australasia, which holds against the debt securities of an estimated value of £33,000. The principal unsecured creditors are J. A. and M. C. Erskine for £37,956 and Edwin Ward for £14,454. There is a long list of smaller creditors.
The assets of the company comprise office furniture, valued at £SOO and an estimated surplus over, the bank’s security of £1,894.
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Bibliographic details
Evening Star, Issue 22683, 24 June 1937, Page 11
Word Count
160COMPANY BANKRUPT Evening Star, Issue 22683, 24 June 1937, Page 11
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