BANKHUTPGY.

New Zealand Herald, Volume XXIV, Issue 8928, 17 December 1887, Page 3

BANKHUTPGY.

DEBTOR'S EXAMINATION,

T. King.—Mr. Thomas King, baker, was examined by the Official Assignee yesterday as to his bankruptcy. He deposed that he first commenced business at a temperanoe hotelkeeper in the latter part of the year 1883- This business proved unprofitable, and he had then to file a petition of insolvency. He was then known as Edward Thomas King, but be had sinoa ascertained that his proper name was Thomas King. After then receiving his discharge, he entered the bakery business with a capital of £90. For the first seven months the business paid very well, bat the prioe of flour was raised at the end of 1886, and owing to great competition it was impossible to inorease the number of his customers, whilst the various bakers took to underselling, and he had to work at an absolute loss. He called a meeting of his creditors in May last, and he then offered to' pay 10s in the £. Some of the creditors, however, afterwards insisted on better terms, and his efforts to oomply with their demands, and to continue his business at unremunerative prices, necessitated his again filing » petition in bankruptcy, . King's only assets were his book debts, estimated to produce £20, and his household furniture (£l6). A bill of sale was held by certain trustees over his cart, horses. harness, and trade htensils, valued at £120, but he understood this document was invalid.