IN BANKRUPTCY.

Hawera Star, Volume XLVIII, 7 April 1925, Page 8

IN BANKRUPTCY.

ESTATE OF F. W. OT.TVF.R

The first meeting of creditors in the bankrupt estate of F. W. Oliver, baker, .of Hawera, was hold yesterday afternoon The D.O.A. presided and there were four creditors represented. Bankrupt, in his statement, said he took over a lease of premises in High Street in April, 1923. The rental was £2B 3s per month, plus rates £35 16s 4d and insurance £l6 4s. He sub-let part of the premises at £2 per week. He soon found that business wa<* n.ot. so good as appeared probable, and he took off'bis carts and dispensed with the services of an assistant. Business did not improve. His liabilities were incurred during the first period of business. He bad not been able to improve bis position, and rent got in arrears. He was compelled to fi;e, and advised that lie could make no offer. The financial statement of bis position showed a deficiency of £l4B 14s 4d. Unsecured creditors totalled £368 13s lid, made up as follows: P. T. Donnelly, £ll2 13s 4d; Hotlder and Holley, £24 3s Id ;• Hawera Borough Council, £l4 16s; B. Higgs, £3 ss; Geary and Co., £3 2s; Birch and Co. (Wellington), £6l; H. Berry and Co. (Wellington), £24 os; Burgess, Fraser and Co. (New Plymouth), £43 6s ; Miss Oliver (Wanganui). £3O; Airs. Jiorgan (Auckland), £25; A. D. Willis, L.d., £3 11s 6cl; Manawatu Mills (Palmerston North), £l9. The assets inchded. cash, £4l Is 6d; stock, £32; book debts, £lB 18s 6d; -fittings, £SO; cash register, £4O; utensils, £4O. There was a long discussion on the question of the claim for rent to Air. Donnelly, and after consideration the creditor offered to accept £IOO cash in ful]| settlement. It was agreed to accept this and surrender the lease. Air. Donnelly was thanked for his reasonable attitude in the matter. It was reported that the cash register was sold, and that some of the. stock and utensils would probably be quitled easily. This was. al) the business and the meeting then adjourned.