IN BANKRUPTCY

Manawatu Standard, Volume XLV, Issue 287, 7 November 1925, Page 14

IN BANKRUPTCY

AUCTIONEER FILES. A petition in bankruptcy has been filed by Gborgo Thomas Woodroofe, auctioneer, oi Boxton. Tlio statement of assets and liabilities shows the former to amount to £2538 His 3d, being compiled as under: —Stock in trade, .£2OO, book debts £l5O, cash in hand £3 16s 3d and property and share interests £2185. Liabilities amount to £2540 Os 3d, the sums due to unsecured creditors totalling £IOO2 10s 4d and to secured creditors £1447 JBs lid, thus leaving a deficiency of £1 J 3s. The unsecured creditors arc as follow:—(J. I). Hamilton £B3, Chronicle, Ltd., £1 4s, Abraham and Williams £6 7s lid, all of Levin; New Zealand Loan and Mercantile Agency Co., Ltd., £0 10s, J. T. Heatley £1 17s fid,. Manawatu Carriers’ Association £0 10s 6d, C. Dahl £.ll 3s, C. H. Whitehead £2 ss, Jacobs and Grant £9 Is 9d, Man son and Barr, Ltd. £34 14s 2d, Spooner and Co. £2 6s 9d, Barrand and Abraham, Ltd. £8 14s Hid, and £6 7s 3d. Adam Burges, Ltd. 5s (id, Cameron Bros. 7s Od, all of Palmerston North; Drain Pipe Co. £143 19s, Combined Buyers £ls 13s lid, Richardson McCabe 6s Cd, Income Tax Department 16s Bd, all of ’Wellington; Chung Walt £1 18s, Ross, Rough and Co. £2 2s Od, E. R. Booth £2 ss, Motor and Engineering Co. £3 15s Cd and £22 Ids 9d, Manawatu Herald £l2 3s, B. G. Gower £2OO. C. M. Speirs £42, Borough Council £sl 4s 10(1. all ol Boxton; "Wright and Co., Ltd. Wanganui, £8 17s 6d. N. P. AY. Brown, Rongotea, £l6 10s 6d, Miss A. K. Hies £3OO, H. Rios £75, both of Danlievirke.

The secured creditors are: —N. H. Hamcrton, Wellington. £200: T. J. McGregor, Shannon, £250; AY. H. Smith, Buxton. £450; Starr Bowkott Society, Palmerston. North, £366; C. L. Neilsen and Coy., Ltd., Dannevirke, £lßl 18s lid. In iiis personal statement bankrupt states that he commenced business in Buxton as an auctioneer and commission agent in partnership with Hans .Madsen lties in August, 1922. He had owned the property on which the business was conducted, while he had provided £165 in capital. The profits from the business had not proved sufiieient to justify both partners continuing and he had taken the business over. The account hooks had been made up and bankrupt had agreed to pay his partner £365, giving promissory notes for the amount. Of that sum, £290 had been paid. In April, 1924, ho had arranged with It. McMurra.y to commence a carrying and distributing business under the name of “The Boston Distributing Coy.” and had purchased a second-hand lorry from C. L. Neilsen and Coy., Ltd., of Daimevirke, payment being made in monthly instalments of £9 13s 4d. The business had progressed and in September of the same year he had arranged to purchase a now 4-ton motor lorry. The monthly payments had been very heavy, but all the promissory notes had been met until January, 1924. In February, 1925, the shipping trade at Boston had been disorganised and the lorries rendered idle. In. April. 1925, he had entered hospital to undergo an operation and on discharge had dissolved partnership with McMurray He had, however, failed to earn ‘sufficient to pay the running expenses mid the lorry had lioeii seized under the purchase agreement. Other creditors had commenced to press him which had left him with no option but to iile.