BANKRUPTCY.

New Zealand Herald, Volume XXV, Issue 9029, 16 April 1888, Page 3

BANKRUPTCY.

DEBTOR'S EXAMINATION.

J. Murphy.— Murphy, bankrupt, was examined on Saturday before the Official Assignee, and deposed as follows :—About a year and a-half ago ft man named Sandall and myself purchased four horses and three drays for £70, giving promissory notes at three and six months. We began work at a scoria pit, which we agreed to lease with a purchasing clause, ana we worked this pit about six months, but it proved an unprofitable business. Creditors wanted their money, and to satisfy the most pressing ones we borrowed £70 on the security of a bill of sale over the horses and plant. I then put the teams to other work on my own account, and there was an understanding that if I failed to clear the bill of sale in six months, Sandall was to take it over. The work continued unprofitable, and my creditors began to press me. At the end of the six months Sandall paid off the bill, and took over the security. Since then I have worked a pair of horses and dray on hire, by which I am still making a bare living. One of my creditors got judgment against me a week ago, and I filed to avoid going to gaol. My debts amount to £160 19s 6d, my assets £6 worth of household furniture.