COULD NOT EXIST ON £4 5s A WEEK.

Feilding Star, Volume I, Issue 266, 15 May 1907, Page 3

COULD NOT EXIST ON £4 5s A WEEK.

A meeting of credftors in the estate of Charles Parker was held at Wellington yesterday. The statement of liabilities and assets showed that bankrupt had unsecured creditors -for £288 5s 9d, and secured creditors for £675. The value of his securities was set down at £800, leaving a deficiency of £163 5s 9d. Mr Lewcy represented the bankrupt, who stated that his difficulties began about five or six years ago when he went to Palmerston as manager for a company at £2 15s per week, and 3 per cent, commission on cash sales. At the end of the first twelve months he found he was on the wrong side of the ledger. During the second year ho had a lot of sickness in his family and had never made over £5 10s per week, and this only for about five months. If an average were struck over the whole six years his earnings would amount to about £4 5s per week. The immediate cause of his bankruptcy was the issue of a judgment summons by one of his creditors who would not compromise. He intended whenever he could to pay all his creditors in full. At present he was earning £3 per week as a traveller, with no allowance for expenses. He could make no offer at present. The meeting was adjourned sine die.