WAIROA BANKRUPTCY

Hawke's Bay Tribune, Volume XXV, Issue 160, 22 June 1935, Page 2

WAIROA BANKRUPTCY

«*>■• * Wood and Coal Business

The first meeting of creditors in the bankrupt estate of Mrs Alice Mabel Nattrass, of Buatahuua, was held at the courthouse, VVairoa, on Thursday, before tho Official Assignee, Air N. Butcher. There were also present the bankrupt, and her solicitor, Mr G. de V. Robinson, her husband, Mr R. L. Nattrass, Mr D. 11. Withers, representing General Transport, and Mr A. J. Steed, Tyre Surgery, in liquidation.

Tho liabilities were set out at £626 3/7, all unsecured, and tho assets £327, including stock-in-trade, book debts, cash in hand, one lorry, and small plant. The principal creditor was Hodpath and Sons, Wellington, £258 8/11. Tho bankrupt stated that she commenced business in 1932, her father having left her some money. Portion of it was left in tho batik as a guarantee for an overdraft in connoc tion with a transport, business, and it was to get back the £5O she put in that she entered into tho arrangements. She had no capital nt the start, except a truck, which was in her name, and used by tho Napior-Wairoa freight service before it became a company. After giving details of wood yard plant purchased, the bankrupt stated that last July Mr Drager camo into the business, and tho throe became partners and conducted the town business, Air Nattrass carrying on the work at Ruatahuna, buying posts and taking them down for sale as part of the partnership. Air Drager bought in on January .1, and a truck gave trouble from the start., and it did not enter into the sale to Drager. The vendors were communicated with, and it was that which led to the bankruptcy. After the sale to Mr Drager, she went to liuntahunn, where Mr Nattrass was using a small truck, and ho also traded in a small store. The license was in her name, and the posts were bought from the Maoris and sold in the business. Mr Drager got dissatisfied about Ruatahuna and her husband took that end himself, including the small store. The meeting adjourned for the production of further papers, etc.