BUTCHER'S INSOLVENCY.

New Zealand Herald, Volume LXVII, Issue 20721, 14 November 1930, Page 13

BUTCHER'S INSOLVENCY.

BUSINESS AT FRANKTON, STATEMENT TO CREDITORS. | BT TELEGRAPH. —OWN CORRESPONDENT. 1 HAMILTON. Thursday.

.A meeting of creditors in the bankrupt estates of Robert. Robertson Ritchie, butcher, Frankton Junction, was held yesterday. Mrs. Myee Poreen Ritchie, hi; wife, irj whose name the business was opened, was also joinprl as bankrupt. T lin schedule disclosed debts totalling £1203 2s 11d, and assets £l2O 5s 2d, leaving a dpficienry of £lO3l 19s 9d. in a written statement, R. R. Ritchie stated that four years ago he. v. ;ig working for wagps at Frankton Junction. He was out of work for a month, and then his wife borrowed some money and 'hey opened 3, butchery business at Wailii Beach. The business lasted for two months. For some, time afterwards he was out. of work. In June, 1928, he opened a business at. Frankton Junction iri Mrs. Ritchie's name. His wife had borrowed £250 from a friend for the. purpose. Bankrupt, said he. owed rnonpy to only three creditors at that time. .A stock firm supplied him with cattlp, and be owed them £.'51.3, He. owed £2OO to the Public Trustep. He borrowed this money from his sister, since deceased, 15 years ago. Bankrupt said neither he nor his wife had any prospect, of paying th<>ir debts. Fn apswer to questions, bankrupt said the Frankton Junction business paid at times, but he fell behind in his payments to the stock firm arid gave them a bill-of-tale. He supposed he owed £590 when he opened the Frankton Junction business, and admitted he was hopelessly insolvent at, the time. He owed £l9O to a Wanganui woman for boarding his two children. There was no quorum present and the meeting was adjourned.