FORCED TO FILE.

New Zealand Herald, Volume XLVII, Issue 14359, 2 May 1910, Page 7

FORCED TO FILE.

■ UNPROFITABLE VENTURES. t The r vicissitude * of > a boardinghousekeeper are narrated in a statement filed with the. official assignee by Mary Jane Phillis,; a bankrupt. She conducted, at different* times, two boardinghouses in Auckland with varying success. She borrowed £50, giving a bill of sale over her furniture/and paid some of her largest creditors. In October last she found herself behind in her payments to a creditor, and on receiving good accounts of Rotorua she decided to start there. She had only been a few weeks ,in occupation when I .she was induced to. sign a lease of the premises for 12 months/ the rent for the first six months being at £3 10s per week, and the balance at £2 i 10s. Her husband and daughter helped her about the house. Finding that business was likely to fall off in the winter she came to Auckland at the end of March and tried unsuccessfully to dispose of her boardinghouse in Rotorua as a going concern. Her payment und.;r the bill of sale became due in May, and her debts and rent accumulated to such an extent that she was. forced to file. Her landlord . refused to cancel her lease, ! except under terms th**t she could not : carry out. When she left Auckland she , owed £160 or £170, and she consulted her heaviest creditors before leaving. The ! bankrupt, estimates her liabilities at £244 ] i 14s 6d, of which £52 5s 6d is secured j by bills of sale. The assets are estimated at about £127 14s 6d," leaving a deficiency ; of £117. She states that she cannot make i ; any offer at present. / ' / -