COOMBS AND SON’S BANKRUPTCY.
[Feb Fbbbs Association.] DUNEDIN, F». 6. A meeting of creditors of Coombs and Son, tanners, was held to-day. The trustees closed the report with the following paragraph :—" It is necessary to add that in looking farther into the accounts the trustees find them to have been most irregularly and improperly kept. At the 31st of Ootober, 1880, as pointed out in the report of the Committee, there was a defioienoy, according to the stook aooount of that date, of £BOOO, and the Trustees are therefore of opinion that both the debtors must have known their position at that time, and should not, under these oiroumstanoes, have continued the busineis, whioh has, moreover, since then evidently been improperly carried on from the faot that the present defioienoy amounts to £28,913 15s 6d, having inoreased during the fourteen months by a sum of £20,918 IBs 6d." The trustees also reported that Mr 0. Coombs, junr., made an offer of £II,OOO, but as this would not pay a dividend of 6s in the £ it was not accepted. .
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Bibliographic details
Lyttelton Times, Volume LVII, Issue 6536, 7 February 1882, Page 5
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178COOMBS AND SON’S BANKRUPTCY. Lyttelton Times, Volume LVII, Issue 6536, 7 February 1882, Page 5
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