BANKRUPT ENGINEER
QUARRYING VENTURE FAILS Creditors of Richard Gibb, engineer, of Mount Roskill, met before the official assignee, Mr. A. W. Watters, yesterday. Bankrupt’s schedule showed £lO2 11s 4d owing to unsecured creditors and assets of £96 15s, leaving a deficiency of £ 5 16s 4d. Bankrupt stated that in 1925, with his brother, he took over a piece of land at Karaka for the purpose of quarrying shingle. He detailed changes in partnership and said that the shingle* was not up to expectations and seven months’ time and £ 200 were lost. New plant was installed and the business met with a fair measure of success. Bankrupt attributed his failure to lack of capital, bad weather, dirt in the shingle, and unsatisfactory working of the partnership arrangement. Replying to the assignee, bankrupt -aid he filed after losing a civil action and could see no other w#. The assignee said it did not seem as if anything could be ‘done and the meeting adjourned sine die.
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Bibliographic details
Sun (Auckland), Volume IV, Issue 1027, 18 July 1930, Page 16
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164BANKRUPT ENGINEER Sun (Auckland), Volume IV, Issue 1027, 18 July 1930, Page 16
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