LACK OF CAPITAL.
A VENTURE THAT FAILED. WELLINGTON, May 11. A meeting of creditors was held to-day in the estate of James Alorton M'Gill, described as a sporting writer and publisher of the New Zealand Yellow Card. By selecting two likely horses in each race from the acceptances and publishing the names on a card, which he sold for 2s - 6d. M'Gill expected to make money, but the business failed through lack of capital. The total debts were £BB 7s, and the assets are nil. The bankrupt said he had. no.t drawn any salary, but did not think he got more than £5 a week out of the business. It was agreed that, the bankrupt should pay 20s in £ at the rate of £3 a month. He is at present getting £4 a week, plus commission on certain sales.
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Bibliographic details
Otago Witness, Issue 3870, 15 May 1928, Page 61
Word Count
139LACK OF CAPITAL. Otago Witness, Issue 3870, 15 May 1928, Page 61
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