BANKRUPT GROCER

Stratford Evening Post, Issue 11, 8 March 1930, Page 5

BANKRUPT GROCER

MEETING OE I'UEDllUitt. A meeting of creditors in the bankrupt estate of Thomas E. Al'len, grocer, Stratford, was held at Plymouth on Thursday. The ■ statement of accounts showed a deficiency of £146, with no assets. In his statement, bankrupt said he had started in business at Inland Bay, Wellington, but cut-rate competition had made it impossible for him to succeed. "You bought tea from us just be* fore you closed down," said Mr F. S. Johns, representing Messfs J. H, Cook and-Co., New Plymouth. "What did you do with it when you closed your business? Bankrupt: I sold it at cost price. Mr Johns: What was the idea of buying the tea "when you had decided to close down, selling it at cost and putting the money in your pocket? Bankrupt denied that he had decided to clojse down when he took the tea.

The D.0.A.: The proper thing was to return the tea. Mr Johns: The proper thing to do was not to have bought the tea ai- all. Bankrupt: When I had bought the tea I had not given up my business. Bankrupt had kept no books and no banking account, he teaid. The D.0.A.: It seems t:» me that you should ask him to g''ve you a statement of his receipts and expenditure for the last two years. "It is a most unsatisfactory position," [said Mr Johns. "Ke has evidently handled a lot of money and has not the slightest record of where it has gone." Bankrupt stated that he could make no offer to his creditors*