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Otago Daily Times, Issue 19182, 27 May 1924, Page 8

The cash in hand is actually in excess of the liabilities, said the deputy official assignee at a meeting of creditors at Gi»borne last Wednesday. The bankrupt was a country baker, Reginald Arthur Green, who, in his statement, said: "I have gone carefully into my position and I find that with the expenses I have to face and steady opposition my turnover is not what it should be, and I am certain that if 1 continue I would steadily go back. If I carried on until my lease exnires I would be doing so to the detriment of my creditors. My business has suffered owing to lack of shipments of flour, and I am faced within the next day or so with having to stop bread-making as there is no flour in the district." The assignee said the bankrupt had bp.Bn more cautious than most men in business. He had gone and explained that within two days he would have no flour to carry on with. The bankruptcy was a very simple one; there wan no doubt tlie creditors would get 20s in the pound. The balance, of course, would go to the bankrupt. He would continue collecting the assets. Aiming high is useless unless you have *Jb* right ammunition.