FAILURE OF KINROSS & CO
MEETING OF CREDITORS.
Napier, to-day.
At the adjourned meeting of Kinross and O.s creditors yesterday W. Parker, manager of Dulgetty and Co. , and J. Vigor Brown were appointed supervisors. Mr Kinross iv his statement attributes his bankruptcy to difficultiescaused bysudden calling in of large sums of money in consequence of the failure of the Glasgow Bank ten years ago, and to Bubsequent bad seasons aud losses on runs in Poverty Bay, which he had to take over. He was compelled to pay in compunction with Graham and Co., of (lisborne, about £5000 on the Glasgow Bank failure. The land in Gisborne district suffered great depreciation which caused the losses. The improvements of these lands, which were taken over and which were very rough and unmarketable, had been a great drain on his resources. He had always looked upon these properties as more fckan sufficient to meet his liabilities if they were realised to their value.
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Bibliographic details
Poverty Bay Herald, Volume XVI, Issue 5370, 22 January 1889, Page 3
Word Count
159FAILURE OF KINROSS & CO Poverty Bay Herald, Volume XVI, Issue 5370, 22 January 1889, Page 3
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