NINETY-NINE CREDITORS.

Hawera Star, Volume XLVI, 17 May 1927, Page 9

NINETY-NINE CREDITORS.

SCRAP-METAL DEALER’S BANKRUPTCY. AN EX-HAWERA RESIDENT, (BY TELEGRAPH—PRESS ASSOCIATION.) WELLINGTON, Mav 17. A meeting of creditors palled in the bankrupt estate of John Harold William Tapp, a scrap metal ' dealer, lapsed for. want of .a quorum. Debts owing to unsecured creditors totalled £428 16s sd, and the assets were £2O. The creditors were domiciled at Wellington, Wanganui, Palmerston North, Napier, Shannon, Kimboltou, Nelson, Feilding, Eltham, Hastings, Gisborne, New Plymouth, Hawera, Midhirst, Inglewood, Opimake, Dannevirke, Wadpukurau, Stratford, Wadtaira and, Okaiawa, and embrace bakers, carriers, butchers, doctors, motor engineers and garage proprietors, farmers, grocers, a land agent, a glazier, outfitter, wine merchant, ironmonger, furnisher,' draper and blacksmith. Bankrupt’s statement was to the effect that he was a married man" with three young children. Three and a half years '.ago he was living at Hawera, labouring and paying his way. Then he commenced dealing in scrap metal, sometimes doing well, sometimes badly. He had the use of a car and bought a used one for £45, paying a cash deposit of £lO and another instalment of £lO. It broke down, and' he let it go. After hiring another, he bought^a car for £l4O. on which he paid £3O in all. His weekly expenses were about £8 10s. His wife was in bad health, and lie had paid a. lot. for doctors. He had kept a bank account since June last-, and paid in about £673, keeping out only wages and current expenses. He worked at his business at Palmerston, North, New Plymouth, and Wanganui. He lost on splitting and selling firewood, at Palmerston. He bought three locomotives at Napier, and bought an lacetoue plant and employed labour, but lost on this effort. He bought three other locomotives at Wanganui, but could not finish the job. as the Government took away the jacks which lie thought were part of the purchase. He afterwards came to Wellington. He had kept no books and knew nothing of accountancy. Some weeks ago he sold the furniture, which realised four or five pound®. The Assignee asked why. he did not file somewhere where his creditors could get hold of him. Bankrupt said he came to. Wellington on account of his wife’s health. He wias working for his brother, who was dealing. The Assignee : You style yourself a* a contractor; you have certainly contracted debts. I think you have gone systematically about it. You have ninety-nine creditors, and I think there are another twenty who will prove. The whole thing is most unsatisfactory, and I think you should go before the Grown Prosecutor. The meeting adjourned sine die.