IN BANKRUPTCY

Hawke's Bay Tribune, Volume I, Issue 108, 21 April 1911, Page 7

IN BANKRUPTCY

ESTATE OF W. J. ALEXANDER

A meeting of creditors in the bankrupt estate of William James Alexander, contractor, of Napier, was held yesterday morning, the Deputy-Official Assignee (Mr. K. N. H. Browne) presiding. There were also present Mr. J. W. Field (a creditor), the bankrupt and his solicitor, Mr. Cresswell.

The liabilities, all unsecured amounted to £BB'o'll.

The bankrupt’s personal statement was as follows : —“During the past 2.1 years 1 have been struggling hard to make headway, but being unable to secure' employment at my trade as a carpenter and joiner, and never having sufficient means to remove to fresh fields, have tried to carry on in a small way a s a contractor, and competition being so keen, have had to take work at a low price, with the result that I have not earned even labourers’ wages. Last year I had the misfortune to have my wife in the hospital for four months —she had been under the doctor’s care for over eighteen months. I have been laid up myself at different times as the results of accidents, thus losing several months. In August last we were completely burnt out, only saving the clothes we had on at the time, and, unfortunately we were not insured ; the loss would be £l5O or more. My average earnings during the last year would not exceed 25/- per week, and for the three months of this year not 20/-. Owing to a judgment summons for £2l 11/5, which I was quite unable to meet, and acting under advice I am forced to take this step. Should I be successful in obtaining regular work, I will endeavour to pay off with one exception, as soon as I am able. I had to borrow the necessary filing fees from my son. I have no assets and can make no offer.

Examined on oath, the bankrupt said that he had once before, in September, 1907, been adjudicated a bankrupt on his own petition. Bankrupt had kept a proper set of books before the fire, but had never had enough money to start a banking account. In January last bankrupt took a contract for building the engineering annexe to the Napier Technical College at £467/10/-. Bankrupt had two men employed on the job all the time, and an extra man occasionally. For this job he let several sub-contracts. Bankrupt had a book at home showing all the estimates in detail for this contract, and it was upon those that he based his tender. He received several progress payments, out of which he paid wages. All the sub-contrac-tors had put in liens. He attributed the reason that he had not made a success of each of the larger contracts before mentioned to the fact that he had been continually harrassed by judgment creditors and want of capital, his wife’s sickness, having to employ inferior workmen at standard wages, and being compelled to cut down his prices to get the work. He had specialised in the hollow concrete blocks, and had had enough experience to say that it was a success. His failure was in no way attributable to the system of building. He could make no offer to his creditors, and was willing that his discharge should be postponed till he had paid some of the money off. Had he not been pressed, the Technical School job would have shown what could be done in the block system, and thus given him a chance of going ahead. After the bankrupt had been further examined the meeting was adjourned sine die.