BROKERS’ BANKRUPTCY
’A LARGE DEFICIENCY. [BY CABLE —PRESS ASSN. —COPYRIGHT.] MELBOURNE, June 23. A bankruptcy petition wiis l lodged on behalf of Ward and Company, sharebrokers, of Melbourne, to-day. It set down the liabilities at £79,861, the assets at £2,394, and the deficiency at £77,467. The petition was filed by Clarence Royal Culrwen and Alfred Keith Ward, two of the firm’s three partners, who state in their affidavit that the firm is now in fact bankrupt, the cause being excessive drawings and losses in carrying on business. The statement shows’£3l,lo6 is owing to the Bank of Australasia, which holds against this debt securities at dai estimated value of £33,000. The principal unsecured creditors areg J. A. and M. C. Erskine, £37,956; and Edwin, Ward, £14,454. There is a long list of smaller creditors. The assets comprise office furniture of £5OO, and an estimated surplus over tine Bank’s security of £1,894.
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Greymouth Evening Star, 24 June 1937, Page 9
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150BROKERS’ BANKRUPTCY Greymouth Evening Star, 24 June 1937, Page 9
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