Boot Retailer Rebuked

NZ Truth, Issue 1018, 30 May 1925, Page 9

Boot Retailer Rebuked

"Credit Forced on Him;"

"Assuming that this man has had a good deal of bad luck, there has been a regrettable lack of candor on his part," -said the Auckland*} Official Assignee, referring to the bankruptcy of William Victor Hardwick, boot retailer, of Papakura. Mr. Fisher added that if the bankrupt had k put his position, fairly and squarely before the merchants, he ■ would have been unlikely to receive credit. This appeared to be the one and only question m the bankruptcy, though bankrupt's position had been a. very unfortunate one and possibly he did not realise the consequences. ; - ' . In his statement, bankrupt, said that he was previously m business at Ngaruawahia, but sold out owing to ill-health. Then h,e started taxi-driv-ing, 'and after exchanging the first vehicle, the second < car was taken from him for debts: He started m the boot business at ' Papakura, purchasing equipments and getting boot stocks valued at about £50. After approaching a certain, firm, he , was surprised, after refusing to buy, to receive a quantity of goods— credit was thrust upon him. Another firm supplied him I with':-: stock' valued at £200, far above j the value he Had expected to be trusted Everything went well for eighteen months, when old creditors began to press. him, and* following illhealth, he filed his petition. ' Bankrupt's schedule showed debts to unsecured creditors amounting to over £ 100, against which, were set assets valued at. £743* of which- the greater part was stock-in-trade. One creditor insisted that bankrupt ..had obtained stobk on .: false .representations, and said he had, dbne so year after year, but bankrupt said his ;.-..; experience m business was ,that merchants forced a purchase on shopkeepers whether they wanted it or iiot. -.. ; .- ".'."'• . ■ '. '■< The meeting passed a resolution disapproving of bankrupt's conduct and ■instructing the Official Assignee to oppose his discharge.