A BANKRUPT CHINESE

New Zealand Mail, Issue 1847, 31 July 1907, Page 46

A BANKRUPT CHINESE

AND A MAORI PARTNER. (From Our Own Correspondent.) MASTERTON, July 25. Toe Chong Lee, fruiterer and greenoToeer of Martinboiough, has been declared' bankrupt. Hie liabilities total ,£lOlB 16s 6d, and the assets are stated at The unsecured creditors are:—Smallbone Grace and Co., Wellington £B3 11s- A. S. Paterson and Co., M ton £4O; Scott and Co., Wellington, JJS tSs 9d • Levin and Co., Masterton, £-69» W H. Green, Wellington, £l3 4s 9d; Guthrie Brown and Co., Wellington, 070. t’ Fuller Greytown, £< 7s lOd; Wellington Biscuit Co.. JKSIi Mandel. Harris aid Co..’ Wellington. Jfl; Hayward Bros., Christchurch, £23; Joe Kwong Lee, Palmerston North, £35, Joe Chew ° Wellington, labourer, £24; Joe Shfng Lee, Otaki, £164 11s; Wong Wah. Wellington, £l7B 8s 2d. The bankrupt, in a written statement, says that in Jnly, 1905, he commenced business in Greytown as storekeeper and fruifirer with £2B cash. He went to Martinboiough four months later with nrjo Edward Kingi, a native, went into nartnership with him there, paying £l9O Into the business, the money being expended on stock and fittmgs. During +lia first year at Martmborough the high price of fruit and the heavy charge for freight operated against _ and a loss of £2OO resulted. In March last the partnership was dissolved. Kingi, in the meantime, had frequently obtained goods and cash advances from the business, and on tins , up the net amount equalled £3OO m cash. Bankrupt attributed his filing to difficulty in getting in Ins cash, and to the losses through the partnership. 1 ' creditors had levied execution and compelled him to file. Bankrupt believed that had these creditors allowed him time he could have tided over the piessure.