WHANGAREI BANKRUPTCY.
FACILITIES FOR DISCHARGE
[BT TELEGRAPH.—OWN CORRESPONDENT.] WHANGARET. Wednesday.
A meeting of creditors of M. S. and J. S. Tracey, trading as Tracey Brothers, restaurant proprietors and gymnasium proprietors, of Whaugarei, was held today. Mr. A. L. Tressider, official assignee, presided.
The schedule! showed debts amounting to £1,62 and assets estimated at £SB, leaving a deficiency of £lO4. Bankrupt stated the restaurant takings dropped from £45 a week to £25, and the gymnasium bareJy paid. The official assignee said he thought th& overhead expenses were too heavy and that the bankruptcy was caused by misfortune with a possible lack of business knowledge. Bankrupts had been very careful in their business operations.
The creditors decided that the discharge of the bankrupts should be facilitated.
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Bibliographic details
New Zealand Herald, Volume LXVIII, Issue 20968, 3 September 1931, Page 12
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124WHANGAREI BANKRUPTCY. New Zealand Herald, Volume LXVIII, Issue 20968, 3 September 1931, Page 12
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