James Smith’s Bankruptcy.

Gisborne Standard and Cook County Gazette, Volume IV, Issue 578, 5 March 1891, Page 3

James Smith’s Bankruptcy.

EASY IS THE ROAD —TO THE BANK-

RUPTCY COURT. A meeting of ere Ji core in the above estate -w*b called for Tuesday afternoon, but only the debtor attended, and only o* e creditor bad proved. The debts are nearly all in small amounts, unsecured, totalling £228 18-S aettiu’t which are book debts estimated at £lB 2s and furniture at £lO The creditors ot £5 and over ate:—R. Goldsmith £5, O, Hansen £8 2* Gd, Hone (Karaka) £7 10d, Te Kani McKenzie £2O, Adeane and Pjimrafia £lO ,B. Little £9 ; W, Cooper (by p.n. due May 10, endorsed by Mr Ingram) £5O, W. E. Akroyd £5, Curtis £6, Union Bank £l2, Ingram (p.n. due May) £35, D. Johnetpn 5.

Debtor made a long statement, bis failure being attributed, first to excessive competition hi the butchery business, and then to pressure by creditors; there were three judgments ugainst him -the Union Bank for about £l2, Adeane and Primrose for £l3 .3s and costs, and John Thompson for £4 Bs. The butchery business he had purchased at Ormond did not average half what was repre seated to be the takings, competition increased, and the price of stock went up on account of the freezing works. He was worth altogether about £l5O when he started, less £lOO he owed, giving him about £4O in capital when he started the Ormond butchery The business had been filmed on account of a bill of sale being pressed, but he did not file then as he stid hoped to be able to pay his way. He expected to make something at the races by a horse he had belonging to Mr Walsh, but the horse was killed just when his hopes seemed near realisation. There was about £23 worth of furniture in the house, but beyond about £lO worth, belonged to his wife, who had bought it with her own money, given her by her brother-in-law.