YOUNG MAN'S FAILURE.

New Zealand Herald, Volume LXIV, Issue 19748, 22 September 1927, Page 15

YOUNG MAN'S FAILURE.

VENTURE IN STpREKEEPING. DISCHARGE STRONGLY OPPOSED. [BY TUMSfiRAFH. —OWM CfI«RBP(WnSW.I KOTOEUA, W«du«day. A mating of cr«ditor* in the bankrupt MliU of Eric T. Mutton wm h#ld in tbn Native Land Court to-day/ Mr. 0. N. Morris, ofSi iai astttgtiM*, prwidlflj. The statement of as*et» »r»rl" Jtabihlia* showed MMte at £7lO and liabilities at £1869, * deficiency of £1169, Bankrupt mui fir* years ago h* started a, carrying buauiaw wtth motor iornw, I*l ween Murupara an»l ftotoroa, and cmfmufl for four )«r», t*h*n he agrw>d lo lake over Ins lather's store, and cot»turned th* tarrying a* well tl# «» 18 years of »g<* when h* *t*rted eaJTyUBg. When ho took over ih* *t»»r# ht* father ■>*pd #U>ui £7OO, and thrra was a moitgage ou tiia store property of £SOO. Book debts f;ta>i«d about £240 *nd be had rwovtwJ shoot £7O. H« had paid it cotosdertbk amoaat ow»g by his iathar, but became co»«ud«**bly in arrears with h»-» own accounts. H* w*» ssarrt«! last March. Ki* father, mother, two sisters *»d two yo«»ng brothers lived with bun aat?i he was si«Tj#d» and they had all teai kept «at of ih* stwe- lift j M drawn oo a» awag* from the bi»iw« about £6 st week. Bankruptcy was attributed to too much i rcd.t given to ttaUves awl ihlf* besng bttfttonks available to Justify the porch*** pnt*. 11* »*» £lwl to th* f«i! •» M«r< h. 19®, bet had to** nearly 12200 ««** 'H* bad not twea' *xtra¥»gani so »»f way, esther Ufori* or ««sr* hi* #carriage. Aivkcd by lb* a»?g©*« why ha did iM ftl* Mforc' fisaahfStjpt »*>d W bang o§ hoping 1 to recowr hj» pcwitMW. In sotfjtmwjj up, th* aa»ig*** u«4 it was a matter for the kt be «**- *>dered bankrupt fj-eiid be pf *■*« uted fee certatm of b>» d*ali«jc» fidiiJ* a j-fwJ b!mo wa* ' arr *d thai lb* Ctwr# nbrifAr fe**« ib# <a:|* t»if (rutted to ht» f arid »h*» th* ""WditoSrs hta dwrharga. The ftws t»r tA "disfsoiiag of th# ****** *»* tei- >« th* hifidi of th* official a** gt*«*.