TRAVELLER'S FAILURE.

New Zealand Herald, Volume LXV, Issue 20075, 12 October 1928, Page 11

TRAVELLER'S FAILURE.

POLISH-MAKING BUSINESS

There was not a quorum present yesterday at the meeting called in the bankrupt estate of David William Mackie, traveller (Mr. Goldstine). The schedule showed debts amounting to £970. and assets £894, including a bouse valued at £7OO. The deficiency was £76. la his statement bankrupt said he commented business in June of last year as a manufacturer and distributor of paint and polishes. Ho began manufacturing and (inning polishes, and opened an office in Queen Street, where he employed a manager. The sales at first were good and he opened offices in Wellington and Christchurch, ana sent salesmen into the country districts. He lost a considerable sum through canvassers failing to account for goods they had received. Ho had a fnrtner setback when a faulty mixture of polish w.-u put on the market in Christchurch. Saies slackened and ho closed down the Christchurch and Wellington branches. Last December he sold Iho business for £iy;j. and entered into a deed of composition with his creditors, to whom he handed the promissory notes. He had been out of work since December until a few weeks ago. and was now employed as hotel porter at £2 17s 6d a week. The official assignee, Mr. G. N. Morris, said ho did not see how bankrupt could make any oiler at present. There "had been somf carelessness in making the sale of the business, the purchaser of which had since gone bankrupt. That meant fhe promissory notes were valueless.