Commercial Integrity.

Hastings Standard, Volume XII, Issue 60156, 21 December 1908, Page 5

Commercial Integrity.

INSOLVENT FIRM PAYS 20s IN £. PER PRESS ASSOCIATION. Masterton, December 21. The directors of the late firm of Messrs Howell and Co. have instructed Mr VV. B. Chennells, liquidator, to pay all claims against the, estate in full, more as a moral than a legal obligation. One director who had not signed a certain guarantee bond for a considerable overdraft at the Bank took up the position that he would have signed had he been requested, and he therefore paid his full share with the other directors, who on a strictly legal basis could only have been called upon to pay seven shillings in the pound to ordinary creditors. That they should voluntarily pay twenty shillings in the £ is very favourably commented on \rj commercial circles.