BANKRUPTCY

Nelson Evening Mail, Volume XLVIII, Issue XLVIII, 6 May 1914, Page 3

BANKRUPTCY

ESTATE OF C. H. YOUNG. ' I | The adjourned meeting of creditors of C. H. Young, pastrycook," a bankrupt, was held at the office of the D.O.A. (Mr W. Rout) yesterday after- , noon. Bankrupt was no*, present at tho fu-it meeting of creditors owing to illness. > The D.O.A. stated that Mrs Young had not claimed the £25 worth of furniture to which bankrupt was entitled, but only about £ls worth. He had sold the equity on a piano for £4 10s. Ho obtained Mrs Young's authority to inquire if she had an account in Vae PostOffice Savings Bank, and found that she had, none. Since the previous meeting an ice chest and two packets cf spoons had been stolen. This matter , was in the hands of the pohce. J The bankrupt, in reply to the Assignee, said he had not the slightest idea as to who took the things. He further said that he and Kirk (his former partner) had got on well tb•gether, but the wives could not agree in the shop. His business hud qonc back, and . this he attributed, to the strike. His life was not insured, he had no expectations; and he could not make any offer to the creditors. H° was of steady habits, though he - couldi "go into a hotel and have a •"' nk with any man." The Assignee xe3d a statement, showing that the receipts at debtor's shop month by month had been shown by the books to be: May, 1913, £59, June £l4B, July £96, August £IOB, September £llO, October £72, November £56, December' £B2, January, 1914, £62, February £46, March £37. A creditor asked, the profit on small goods—was it not 100 per cent? Bankrupt said he did not think -the profit was more than 50 per cent In reolv to another creditor. bankrupt said'he paid £7 for a bulldog before he carne to Nelson. Bs bad /not bought a bulldog -while he %vas m 'NelA wedding cake, stand, valued at £8 had been retained by bankrupt, and ( surprise was expressed at .this. ; Bankrupt said the stand was of use to him in his trade, but a creditor ex- - pressed the opinion that it was not required in a bakehouse, but was merely for show. The Assignee stated that the furniture in the house belonged tp Mrs i Youn-sr. , , , i Bankrupt said that h» had reyer bought I a stick of furniture, the whole balongin" to his' wife before he roamed her. The only thing he had bought was the i piano, for the children The Assignee said that there would be nothing for the creditors. There would only bo enough m the estate to pay the preferential claims and legal expenses. . No resolution was proposed, but it was apparent that creditors were dissatisfied with certain aspects of the bankruptcy. The Assignee raid, that his report to the Judse •would be that the bankruptcy was an unsatisfactory one. * The meeting then closed.