BOOKSELLER BANKRUPT.

Star (Christchurch), Issue 11254, 7 December 1914, Page 6

BOOKSELLER BANKRUPT.

W. A. EAST'S CREDITORS.

"YOU TOLD INNUMERABLE LIES."

A meeting of the creditors of falter Antill East, until recently a bookseller and stationer, was held in the Official Assignee's office to-day. Mr T. D. Kendall nresided. Mr H. Goodman appealed for the bankrupt. The bankrupt's • statement showed that his debts amounted to £337 19s lid. all the creditors being unsecured. His assets were book debts amounting to £l7 6s 7d, and calculated to produce £lO.

The principal of the fifty-seven creditors were:—J. G. Raine (Wellington), £33, 0s sd; Gordon and Gotoh, £2B'Bs 3d; Thomas Nelson and Soil (Edinburgh), £2l 9s 2d; Bing, Han-is and Comnairv, £25 7s 6d; M'Millau and Co., Ltd (Loudon), £l6 14.s 7d; Ramsay ;:ud Co. (Dunedin). £l4 Ss 6d; F. 1). Txesteven, £l2: Walter Scott Publishing Co. (London). £ll 18s 9d; George .Bell. Ltd., £lO (3s lid. Mr Goodman said that in October 1912 the bankrupt started in business iu Armagh Street and was at first successful, but the change of the halfholiday to Thursday had affected liim. Later the strike had stopped his supplies of periodicals for two months. When the periodicals came forward they were unsaleable., and were left on his hands. He sold the business for £165 in August, and his creditors pressed him. As they sought payment he paid them until the whole of the £165 was expended. Then he had to file his petition. The debtor presented a statement, showing details.of payments amounting to £133. At the request of Mr Orchard, the Official Assignee said that it would be necessary to consider whether or not there had been preferential treatment to other creditors. Mr Orchard remarked that some creditors who had not been paid had been pressing. The bankrupt said that when he started his business ho had £33 in capital. It was stated that there were goods he had taken delivery of worth about £4O. The. bankrupt stated that some of the goods had been sold, but not all. Mr Nieholls: What has become of this £4O and the £3O not mentioned in the statement of payments since August? Can you 'account for that? Bankrupt: t thought the goods should go back to the publishers. Mr Nicholls: Haven't you been drinking heavily? Bankrupt: No. Mv Orchard: Go on; you know you've been playing the fool. And you have told innumerable lies to your creditors. This is a fitting termination to your business career. This is where you ought to be. You deserve all the punishment we can give you. You have acted dishonourably in dealing with' your creditors.

Mr Nicholls asked the bankrupt if he had been drinking in rooms he had been renting in Colombo Street. " "What are all those empty whisky bottles doing in the rooms?"

Bankrupt: There are no whisky bottles. They might be ink bottles. Mr Nicholls: I know the difference between ink bottles and whisky bottles. A Creditor: Mr Nicholls should certainly know an ink bottle when he sees it.

Another Creditor (to bankrupt): What have you been drawing out of the business?

Bankrupt: I can't say from memory. T have not spent £2 a. week on myself. I have heeu living at my father's iome.

Mr Nicholls: But I want the bankrupt to account for this £7O. Where has it gone?

Bankrupt: I haveheon working, and no one can say that I have been spending it on drink. Air Orchard: You must have had a gay time to have got into this mess so quickly. Questions about details of the business transactions brought from the bankrupt answers to the effect that ho could not supply them from .memory. Official Assignee: I only saw Air East at 2 p.m. to-day and I have had no opportunity of going into the details with him. Bankrupt: I have been out in the country, and I havo come to town. I have to leave at 7 a.m. Mr Nicholls: Well, now you're here you'll have to attend to your creditors' wants. You've run into debt to the tune of £3OO, and you'll have to give your time to this business now. Ultimately it was decided to adjourn the meeting, the Official Assignee to call the creditors together again when he had further details about the business.