CREDITORS MEET.

Grey River Argus, 15 June 1927, Page 7

CREDITORS MEET.

Yesterday there was a meeting of the creditors of James Turnbull Sharp, baker. Air. A. Naylor (Deputy Official Assignee) presided. Air.’ W. J. Joyce represented the bankrupt, and the following creditors were represented: F. Williams, A. S. Paterson and Co., (Wellington), Griffen and Smith Ltd. (J. Procter), P. Blanchfield, Greymouth “Evening Star” (A. J. "Wilson), Overland Dairy Co. Ltd., (T. Topliss), E. McDonnell, Kettle Bros (Air. W. R. Kettle). The only assets shown were £2O in book debts, while the debts to unsecured creditors were shown at £462 Is these creditors being: Kennedy Bros £23; Fred Williams £23; Kettle Bros £5; Blanchfield and Quinlan £54; Al. AlcDonnell £3/11/; Rattray and Co £10; Temuka Flour ATilling Co., £B9; A. S. Paterson and Co. £64; Royds Bros and Kirk £l6/10/-; Aloss Advertising Co., £11; Overland Dairy Co. £45; West Coast Farmers’ Co-op Dairy Co. Ltd.. £5O; Griffen and Smith £l5; Hodgson and Son £23.

In a statement bankrupt said: “I had been in business as baker in Greymouth for some years prior to Octobex 1920, who I went to the Old Country, and returned in December 1921. I recommenced business in Greymouth about February 1922, in the shop until recently occupied by me, with £320 stock supplied by Mr. P. Blanch field lo start, with. I took the shop, fittings, baker’s troughs, tins, scab's and all other bakers and pastrycook’s plant for a term of five years from February 20, 1922 at a weekly rental of £4 10 k I employed two men. (1) Carter (half wages) and one shop girl at total wages of £l4/2/6 per week. The illness and death of my wife was a great blow to me, as she assisted to a very materia) extent in carrying on and conducting the business, looking after the finances, and taking care of the distribution and shop work. In addition, I was seriously ill, and incapacitated from doing any work or attending to any business for a very considerable time, and in consequence of this, the busi,,ness commenced and continued to decrease, and I experienced great diffi culty in obtaining supplies and evontu ally had to purchase my materials etc. in very small quantities and had my credit stopped. I estimate that I was making a loss of over one penny a loaf on bread delivered from the cart and this added to my difficulties. Finding I could not possibly carry on any longer I had to give up the business and Air. Blanchfield took it over from me on Alay 1, 1927 on behalf of the estate of Air. P. Quinlan, deceased, so that the shop need not be closed down, and has continued since, employing me at a salary of £6 per week. When taken over, T owned none of the plant, tools or appliances used by me as a baker and pastrycook, as these had all abrng belonged to the landlord, and had been rented by me with the shop. I have four of a family all of whom are dependent on mo and I regret that T can make no offer to creditors at present. After bankrupt had answered a number of questions a resolution, moved by Air T. Topliss and seconded by Mr J. Procter, was carried, to the effect that bankrupt be given time to prepare a statement of his receipts and expenditure for the past two years. The proceedings were then adjourned.