BANKRUPTCY PETITION
MELBOURNE SHAREBROKERS BIG DEFICIT DISCLOSED MELBOURNE, June 23. (Received June 23, at 10.30 p.m.) A bankruptcy petition was lodged on behalf of Ward and Co., sharebrokers, of Melbourne, to-day. The petition set down liabilities at £79,801 and assets at £2394 with the deficiency at £77,407. The petition was filed by Clarence Royal Curwen and Alfred Keith Ward, two of the firm’s three partners, .who stated in an affidavit that the firm was now in fact bankrupt, the cause being excessive drawings and losses in carrying on the business.
A statement shows that £31,100 is owing to the Bank of Australasia, which holds against the debt securities of an estimated value of £33,000.
The principal unsecured creditors are J. A. and M. C. Erskine for £37.956 and Edwin Ward for £14.454. There is a long list of smaller creditors. The assets of the company comprise office furniture valued at £SOO and an estimated surnlus over the bank's security of £1894.
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Bibliographic details
Otago Daily Times, Issue 23225, 24 June 1937, Page 12
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161BANKRUPTCY PETITION Otago Daily Times, Issue 23225, 24 June 1937, Page 12
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