BANKRUPT LAND SALESMAN

Taranaki Daily News, 18 October 1927, Page 5

BANKRUPT LAND SALESMAN

AFFAIRS OF LESLIE IL TICKBOX. DEFICIENCY OF £235 % 3d. A meeting of creditors of Leslie Horace Tichbon, a land salesman of New Plymouth, was held in New Plymouth yesterday, the D.O.A, ,Mr. J. S. 8. Medley, presiding. Messrs. W. C. Weston and W. Harris were the only creditors present. I nsecured creditors were owed f-310

3s 3d, and bankrupt’s assets were £5 in book debts, and £7O worth of furniture, leaving a defiicency of £235 3s 3d. The chief unsecured creditors were stated to be T. Heizzenbuttel (Christchurch) £5O; S. Higgs, plumber (New Plymouth), £33; Taranaki Herald, £25; P. Douglas, £23; Drs. Fookes and Milroy, £24; A. Waldie, £24; Taranaki Hospital Board, £l5; W. Harris, (taxifl, £l3; A. \ eale, grocer, £lO, With the exception of Heizzenbuttel, all the creditors, 34 in number, were of New Plymouth. Bankrupt’s statement was to the effect that lie started business as a land and commission agent in partnership with S. Loveridge, about six years ago. At first they did very well, but business decreased and after about two years Loveridge retired from the partnership. Bankrupt started on his own with very little capital, but did fairly well until about two years ago, when business began to decrease. Business was so bad last year that he gave up his office, and did not apply for a renewal of his license. This year he joined Mr. Petersen as land salesman, but business had been very slack, and it was during the last two years that bankrupt’s financial position had gone back, and practically the whole of his debts' had been contracted.

He had a wife and two children, continued the statement, and during the last four years his wife had been in ill-health. Ho had hoped that business would improve and enable him to pay Jus creditors in full, but as several were pressing for payment he was forced to file.

Under oath bankrupt 'explained to the D.O.A. that he had disclosed all his assets, and his wife had no property of any kind. His life was not insured. All his books, lie said, had been lost. “I started with nothing, and finished with less.”

Some of Ills accounts were owing from the time be was secretary of the Coursing Club and creditors threatened to sue him for money owed by that club.

Instead of receiving any salary in his present position he was given one quarter of the commission which went through the office. In this fashion he made just sufficient to live. .He said he could live on la a week. In saying there was sonißthin-g coming he had meant lie intended to pay his creditqrs. He owed no wages, but be did .owe some rent. His motor car he had sold about seven, months ago for £25. He drank and gambled little, but occasionally he went to race meetings. As there was not a quorum oj creditors present, the D.O.A. adjourned the meeting slue die. -