BANKRUPT ENGINEER.
[BY TELEGRAPH. CORRESPONDENT.] HAMILTON. Tuesday. A meeting of creditors in the bankrupt ale of W. R. Simmons, engineer, Waharoa, was held in Hamilton yesterday. Mr. G. Cox acted as chairman in. the absence of the official assignee. The total liabilities were, given as £228 6s 9d, all owing to unsecured creditors. The assets amounted to £160, leaving a deficit of £68 6s 9d. Bankrupt said that when he commenced business on bis own account as a general engineer in 1920 he had £150 of I his own. The Repatriation Department assisted him with £300. Business fell off from the time the price of dairy produce dropped, and as soon as he saw be was losing ground be arranged with the Repatriation Department to take over its security, and he commenced working on wages. He bad made up £150, and if j given time would have, paid all his debts in full. The creditors expressed the opinion that bankrupt should have filed earlier. Apparently he did not have busines capacity, although he was a good practical engineer. The meeting concluded without passing a resolution.
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New Zealand Herald, Volume LX, Issue 18348, 14 March 1923, Page 11
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185BANKRUPT ENGINEER. New Zealand Herald, Volume LX, Issue 18348, 14 March 1923, Page 11
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