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BANKRUPT BUTCHER

SET-BACK THROUGH SLUMP. ESTATE OF P. F. KELSON. The statement in bankruptcy of Percy Francis Nelson, butcher* of Whataupoko, shows that he commenced business, trading as the Wliataupoko Meat Co., in May 1920, with a personal capital of £9O, and a guarantee of £2OO, ,As improvements to the shop were made, and extra plant and fittings installed, further advances were made by bis guarantor. For a time business was fairly profitable but tlie slump caused a severe setback, this , being aggravated by illness in his family, and the consequent expense occurred. Some two years ago the prices of stock went up together with wages and overhead expenses, and this was not fully compensated, for by the advances made in retail prices. Just recently the prices were again advanced, and he had hopes that he could greatly improve his position during the summer, par-, ticiuai-ly in view of the fact that the re-open ng of the freezing works would result in the prices of "stock being lowered, and that he had commenced trading on a cash basis. Creditors, however, commenced to press him, and Jris secured creditor realised on his security, leaving him no option but, to file. ‘ He regretted that ho could make no offer to his creditors. The bankrupt’s financial statement showed liabilities amounting to £943 12s 9d, owing to unsecured creditors, while the assets, comprising hook debts estimated to produce £25, and furniture valued at £35, amounted to £(SO, leaving a deficit of £BBS 12s 9d The principal creditors are as follows:!). J. Parker, £657 12s 9d; 11. Berry and Co. Auckland, £49 15s 10d; Ormond Motors Ltd.. £4O 11s: Gisborne Sheepfarmers F.M. Co. £34 18s 6cl; Gisborne Borough Council £27' 14s 6d; Okitu Factory £23 3s: Cook Hospital dairy farm £ls-16s: Miss K. M. Parker (rent) £15.3d: J. J. Walsh £l2 10s 8d; Vacuum Oil Co., £lO 8s; Bignell and Holmes. £lO 3s 6d; A. J. Vidal Sons £7; A. S. Paterson and Cb, £6; Mellor Bros. £5 16s 6d; Daigety and Co.. £5 8s 6d; Gisborne Garage £5 8s; T. Wines Ltd., Napier £4 -19 s 8d: Gisborne. Publishing Cb., £4 10s,; Nelsons (N.Z.) Ltd;, £4.

Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/GIST19251026.2.5

Bibliographic details

Gisborne Times, Volume LXIII, Issue 10138, 26 October 1925, Page 2

Word Count
362

BANKRUPT BUTCHER Gisborne Times, Volume LXIII, Issue 10138, 26 October 1925, Page 2

BANKRUPT BUTCHER Gisborne Times, Volume LXIII, Issue 10138, 26 October 1925, Page 2

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