"A RUN OF BAD LUCK."

New Zealand Herald, Volume LXI, Issue 18889, 11 December 1924, Page 12

"A RUN OF BAD LUCK."

SUBURBAN SHOP FAILURE.

ROLL OF BANK NOTES BURNT.

EARLY CLOSING LOSSES.

A meeting of creditors in the bankrupt estate of Eva Hose Oliver Halford, draper and stationer, Great South Road, was held before the official assignee, Mr. W. S. Fisher, yesterday. The.-i 3 was a large attendance. Bankrupt attributed her failure to the fart that she kept going, knowing she was behind in payments to creditors, in the hope that business would pick up. She had had a run of bad luck. The amount owing to unsecured creditors was shown as £754 4s 2d, made up of sums ranging from £151 lis down to 12s. Most of the creditors were merchants. The total assets amounted to £532 9s 2d, consisting of stock-in-trade £400, book debts £31 lis sd. cash in hand £5 0s 9d and property £95 17s 7d, making a total deficiency of £221 15s. In a written statement bankrupt said that two vears and seven months ago f-he commenced business on the limited capital of £80, together with £30 worth oi drapery. During the second year sno was mit of the simp for two months owing to illness. At this time she double banked some advance orders by mischance, caning heavier bills to be met than Anticipated. , , Last Febnmrv she inadvertently burnt :i roll of bank-notes for £60, and worry again brought on illness, causing her bustness to fall further behind. " I thought myself justified in carrying on. she said, "and as my husband and I lived pretty simplv 1 thought things would still come right.*" Mr. Fisher stated he had had a value placed on the stock, which would realise anything from £70 to £100. He had received an offer of £63 for it. Bankrupt: There is at least £2CO worth of stock there. ?dr. Fisher: You have the most extraordinary stock I have ever seen. There is a quantity of crockeryware, fancy goods, tobacco) and magazines and cheap novels. In replv to questions bankrupt said she had been practically a lifetime at shop business. She kept a day-book, but could not trace all her transactions. Her husband worked for her and travelled round the country in n van hawking goods. He had not received a penny in wages and did his own repairs. During the period she had the shop she had never gone into her financial position. Replying to a creditor, bankrupt said that before early closing she took anything from £20 to £25 a week, but afterwards her takings dropped to £15 and sometimes £12 and £10 a week.

"Knowing that you were in difficulties, and had received several summonses, you should have filed before." remarked Mr. Fisher. " I realise you have had a difficult row to hoe.''

Jt was resolved to make no claim on the furniture.

Mr. Fiater and a creditor were appointed to go into the matter of the sale of stock with full power to act.