ASSETS NIL.

Taranaki Daily News, 20 September 1924, Page 6

ASSETS NIL.

A BANKRUPT PAINTER. . FIRE BURNS STOCK. DEBTS TOTAL « Ruined, according to his statement, by a fire which burnt out his premises when he was in business in Woodville, Albert Edwin Bland, painter. New Plymouth, appeared before the DeputyOfficial Assignee (Mr. J. S. S. Medley) yesterday afternoon. No creditors were represented. Bankrupt’s financial statement showed that the total amount owing to unsecured creditors was £76 17s. There were no secured creditors, the assets being nil. The* unsecured creditors were (an of Woodville except where otherwise stated): Morris Bros., milk vendors, 18s; W. E. Beale, garage proprietor, £8 7s: Alex. Clarke, merchant, Palmerston North, £5 4s 6d; Sydney Turnbull, baker, £6 16s 7d; Ernest. Grinlinton, cabinet-maker, £3 Os 6d; T. E. McLean, baker, 5s Id; A. H- Hustwick, chemist, 13s 3d; G. E. Bailey, grocer, 8s T. W. Cross, carpenter, £2 9s: T. Warr, carrier, 16s Id; W. Wills, carrier, 10s; H. T. Whitelaw, boot importer, €3 17s; G. W. Fairley, butcher. £8 4s 7d; M. Grant, printing office, £3 10s; S. Brightwell, draper, £6; Forestors’ Lodge, £7; Hannah and Co., boot importers, Palmerston North, £2; Bishop Bros., publishers, Sydney, £2 10s; Woodville Gas Company. £2 ss; W. Galbraith, grocer, £6 7s; Mrs. V. Lawrence, bookseller, £2; Mrs. Kirkpatrick, boot importer, £3. Bankrupt, in his written statement, said that he started business in Woodville in 1913 as a painter and decorator, carrying on with the business until July, 1923. During that period he had worked the business up well and was always able to~pay his way with a few pounds to spare. In September, 1922, he had the misfortune to lose by fire practically everything he possessed, including his business books, and he was under-insured at the time.

In the early stages of 1923 he found that business was falling off owing to the slump. He was compelled to give up the business, sacrificing his working and stock in -trade, and he subsequently camp to New Plymouth, where he was at present working on wages.

Since coming to New Plymouth he had endeavoured to pay off some of his creditors, and by doing so he found he was unable to do justice to his wife and three children and pay his way at the same time. He wrote to some of his creditors explaining his position, but received no consideration. He was pushed for payment and was forced to file. He regretted to say he had nothing to offer.

Examined under oath, bankrupt stated that he was at present earning 2s 44d per hour in fine weather, but with broken weather it took all he could earn to keep his wife and family and himself. Nearly all his debts were incurred at Woodville, and he had managed to pay his way since he had been at New Plymouth. He considered that if it had not been for the misfortune of the fire at Woodville, he would still be in business there- He could see no hope of being able to pay his debts and could make no offer.

The meeting was adjourned sine die.