SMALL DEFICIT SHOWN

Poverty Bay Herald, Volume LV, Issue 17407, 4 November 1930, Page 6

SMALL DEFICIT SHOWN

CAR PAINTERS’ FAILURE WRIGHT, CLAYTON AND LLOYD An estimated deficiency of £ll 2s lid is shown in the joint statement of Frederick Wright, car painter, Leonard Oswald Wright, car painter, George Clayton, motor trimmer, and Robert Francis- Lloyd, car painter, all of Gisborne, trading as. Wright, Clayton, and Lloyd, who have tiled a, petition in bankruptcy in the Hupreme Court. The financial statement of the partnership shows debts to unsecured creditors amounting to £689 Is lid. The assets consist of plant and fittings valued at £437 Bs, book debts totalling £233 17s, and estimated to produce £220, and cash in the hank amounting to £2O 11s, a, total of £677 19s. The estimated deficiency, therefore, is £ll 2s lid. The following are the unsecured creditors:—Gisborne: Sargood Son and Ewen, £1 3s; Gisborne Publishing Co., £2B Os lOd ; F. Hall and Son, £24 3s 8d: Common. i,Shelton and Co., Ltd., £lO 2s 9d ; To Ran Press. £26 8s; <l. S. Vincent, £l. .15s: Ball and Crawshaw, 17s; Airs. E. A. -Clayton, £57; Gisborne Borough Council, £lB 8s 6d : Gisborne. Harbor Board, £5 0s 6d. .Auckland : Reid and Twiname, £129 6s 8d; Briscoe and Co., £3O 2s 6d ; Guthrie, Bowron ami Co., £sl 5s 6d ; Hill and Plummer, £lO 19s 9d; Chandler and Co., £ls. Napier: Spackmau and Son, £6 18s. Wellington : S. and X. .Meyer Ltd.. £lO 5s 6d ; Bennett and Watson, £5: J. W. Wallace and Co., £35 lb's 2d: W. Wiggins, Ltd., £7l 11s 9d: Egyptian Lacquers, Ltd., £9 18s; -Sherwiti William,s.and Co., £l3 19s 5d ; Wayne and Co., £25 Is 4d ; R. and E. r J ingey and Co., £l9 5s 6d : Zapon Lacquers, Ltd., £ll 11s; Egyptian Lacquers lie Ernest, Ltd., £67 2s 6d. Christchurch: Hayward Bros., £2 13s 7d. Clayton’s separate financial .statementshows debts to unsecured creditors amounting to £l7 9s od. and to secured creditors totalling £765. Against the latter debts there are securities valued at £/80. leaving a surplus of £l7. lie shows also one-third of the deficiency in the partnership, £5 14s 4d, as a liability. Bankrupt s assets consist of cash in the bank, £2O, and the surplus of £l7 from tho securities, leaving •an estimated surplus of £ls 1.6 s 3d. Tho unsecured creditors are the Gisborne. Borough Council, Cl 5 14s lOd. and the Gisborne Harbor Board, £1 1% 7d. The secured < reditors are (lie State Advances .Superintendent, £521. and .Mrs. M. AL Ball £242. whose security consists of bouse, property in Ormond road valued at £7BO. Jbo liabilities shown in the separate statement of L. (). Wright are. debts- to unsecured creditors £lO 6s Bd. and onethird of the partnership deficiency. £3 14s 4d. Ho has no assets and his 'estimated deficiency, therefore, is £l4 Is. The unsecured creditors are J. E. AlcKinley and Co., to whom £lO 6s 8d is owing. One-third of the deficiency ill the partnership, £3 14s 4d, is the only liability shown in F. Wright's statement, and there are no assets, his deficiency being, therefore, £3 14s 4d. Llovd owes £2B to- unsecured creditors, according to his separate statement’ which, with his share in the partnership deficiency, makes iiis total deficiency £2l 14s 4d, there being no assets. The unsecured creditors are: J. G. Cox, £1 7s 6d; Cook Hospital Board, £1 14s 6d; T)rs. Gunn. Brown, and Rice, £1 Is; Hollywood Estate (rent), £23 17s. A meeting of bankrupts’ creditors is convened for Friday, Novemlier 14, at 2.30 p.m., in tho jury room.