TRAVELLERS FAILURE

Greymouth Evening Star, 17 April 1939, Page 5

TRAVELLERS FAILURE

CONDITIONS ON WEST COAST [PER PRESS ASSOCIATION.] CHRISTCHURCH, April 15. How his business as a travelling salesman on the West Coast was affected by competition and other factors was described by John Petrie Carew Harvey, in a statement which was read at a meeting of his creditors yesterday before the Official Assignee (Mr. G. W. Brown).A statement of Harvey’s financial position showed that, his debts with unsecured creditors amounted to £376 1/10, while his assets which included stock-in-trade estimated at £75, and book debts estimated to produce £ll

3/-, totalled £B6/3/-. The unsecured creditors were Bing, Harris and Company, Ltd., £l5B/15/-; New Zealand Hosiery Company, £5/18/3; J. V. Morley Thomson, £46/11/-; Alex Thompson and Son. Ltd., £B/18/11; Ross and Glendining, Ltd., £92/14/2; R. G. Kane and Company, Ltd., £l5; Kaiapoi Woollen Company Ltd., £29; Kennedy Bros. (Greymouth) £5/5/-; Ross and Burtt (Hokitika) £4/19/-. He commenced travelling to the West Coast by motor-car, selling drapery goods, on May 25, 1931, said Harvey in his statement, read by the Assignee. His business had been successful until 1935, when a large number of others began in the same way, and giving credit, while his was on a cash basis. His car gave constant trouble

in 1937 and so he purchased another valued at £36(1, on terms, but it had been unsuitable for the West Coast roads. Through being struck in the Karangarua River and the Havelock, Creek, he had lost goods valued at £2OO. The business had been going back and the two losses had made it impossible for him to keep up the

payments on his car. In answer to Mr. Brown, Harvey said that there had been five travellers in the district he worked when he started, and about 126 when he finished. His district was between Lewis Pass and Bruce Bay. When his business was successful he carried about £3OO worth of stock, none of which was insured. His liabilities had been incurred since 1935. He had stopped

travelling on December 24, last year and was at present earning £4/5/from the Lands and Survey Department. After further questions had been answered by Harvey, the Assignee said he thought the bankrupt had been rather imprudent in paying £360 for a car. Another car had evidently been necessary; but not one at such a high price. The meeting was adjourned.