A WOMAN’S BANKRUPTCY.

Otago Witness, Issue 3867, 24 April 1928, Page 9

A WOMAN’S BANKRUPTCY.

PUBLIC EXAMINATION ORDERED. GISBORNE, April 19. : Considerable interest' was evinced today in a meeting of. creditors of Mrs Eveline Ellen Head, confectioner, and after, discussion the meeting was ad-; journed and a publid examination of bankrupt''wag ordered. Bankrupt’s statement, of finance showed that £1214 was owing to unsecured cieditors and £393 to one secured creditor. The value" of the securities was estimated at £339, leaving a deficiency of ,£54, the total debts being £1268. The’ assets, including, stock in trade (£169) totalled £2Ol, leaving a deficiency of £lO6O. Bankrupt said she started business in a small shop in December, 1925, and 18 months later took over a bigger shop near the centre of the town, being financed to'the extent of £6OO, the creditor, to whom payments were made fortnightly, being secured. Busin v was good in both shops, but later bankrupt suffered from an illness.. In December, 1927, bankrupt took stock which was valued at- £327. A few weeks ago a fire occurred in the first shop, andbankrupt estimated that she had lost considerably. i.t Bankrupt was closely examined on the financial aspect by the Assignee, who, in the course of the proceedings, said that in accordance with bankrupt’s arrangement with Mr Robecke (the secured creditor) the stock in the shop was to be kept up to £3OO, and he asked her how it got down to £169. Bankrupt said she did not know. She could not account for the stock being short except by depletion on account of the Christmas trade. The Assignee said she must have bought goods up till March. Bankrupt replied that she was not there for the greater part of the time. The Assignee said the bankrupt’s purchases between December and April amounted to £854. Bankrupt replied in the affirmative. After further examination Mr Kirk said he had been instructed by the Auckland creditors to. move that Mrs Head be submitted to' a public examination, and the motion was carried without dissent.