CARRIER’S BANKRUPTCY

Otago Daily Times, Issue 21358, 11 June 1931, Page 3

CARRIER’S BANKRUPTCY

AN UNSUITABLE TRUCK A meeting of creditors in the estate of William Cuthbertson, carrier, of Beaumont, was held before the official assignee (Mr J. M. Adam) yesterday. Mr W. F. Forrester appeared for bankrupt. There was no quorum. Unsecured creditors amounted to £458 5s Hd, and assets to £55 9s sd, including £3O in book debts and stock in trade to a value of £2O. The principal unsecured creditors were: Royds’ Motors £157 6s 3d. A. Boag £143 Bs, J. and A. P. Scott £J3 17s, Wyllie Bros. (Tapanui) £lB, G. Jones (Waitahuna) £24, Robins and Co. £ls 13s sd. In his written statement, bankrupt said that, for health reasons, he had had to leave his employment at Harraway and Sons’ mill at Green Island. He then had about £l5O, and he bought a truck for £360 from Royds' Motors, putting down £7O deposit. In February, 1930, lie commenced a regular goods service between Tapanui and Dunedin. For three months he paid his way and then business got worse and several accidents occurred to the truck, including a fire. He consequently had to hire a truck for two months, and this cost him about £7O. A further series of mishaps occurred after he got the truck back and, in consequence of his not being able to pay cash for the repairs, Royds' Motors seized the truck. He attributed his present position to the fact that the truck was not suitable for the service. He was a married man with a family, and he was at present out of employment. Questioned by the assignee, bankrupt said that he was now living at Beaumont, paying 10s a week rent. All the debts had been incurred since he left Green Island. The truck was a pew one when he bought it. He could not at present make any offer to his creditors. The matter was left in the hands of the assignee.