A CHINESE BANKRUPTCY.

Rangitikei Advocate and Manawatu Argus, Volume XXXIX, Issue 10891, 4 March 1914, Page 2

A CHINESE BANKRUPTCY.

Par Press Association. Wellington, March 3. A meeting of creditors was held in the bankrupt estate of Chung Tack, Chinese fruiterer. This is only the second Chinese bankruptcy in Wellington in eight years. His affaire are in n hopeless tangle. The liabilities to Chinese and European merchant ! amount to £23(51 17s and the assets £437, including Chinese medicines, £305 16s (sd. It is estimated that the deficiency is £1930 13s 7d. The Official Assignee stated that no doubt bankrupt had been purchasing goods just prior to bankruptcy and selling them to fellow coo .try men. Unless a buyer was fpund for the medicine it would be absolute!? worthless. One creditor pressed for public examination of the bankrupt. The meeting adjourned sine die. Separate (enders are. to be called for the medicine and other stock, and an investigation into the books will be made through an interpreter.