BANKRUPTCY MEETING.

Star (Christchurch), Issue 16942, 17 January 1923, Page 8

BANKRUPTCY MEETING.

A CARRIER’S FAILURE. A meeting of creditors in the bankrupt estate of Ernest Albert Smith, of -L \ ogei Street, Richmond, carrier, was called for this afternoon, the Official Assignee (Mr A. \V. Watters) presiding. The bankrupt, in the course of his statement, said he was a returned soldier and a married man with one child. He returned from the war in June. 1919, and bought a motor van for £2OO. the Repatriation Department advancing ‘he whole of the purchase money. He had the van for about twelve months and sold it for £240, out 'of which he repaid the loan to the department. He went -to Wellington in August, 1920, and there bought another motor waggon for £350, on terms, paying £SO deposit. He b nought this waggon to Christchurch and borrowed from L. W. Balkind £llO to complete the purchase. x he balance of the purchase money he had paid while in Wellington. He was carting meat from the Abattoirs to Christchurch with the waggon, but it was not suitable for the Work. Mr Hogarth, a butcher, offered to lend lam £220 to buy a meat waggon and team of horses. This he did. Mr Hogarth taking a bill of sale over the plant. In March, 1922, he sold the team and waggon to Ge-orge Novell, of Sockburn, lor £230. Out of this sum he paid to Mr Hogarth’s solicitor (Mr C. S. Tho- 1 mas) £124 10s. He paid an account of £3l 18s to the Barnet Glass Rubber Company and received a cheque for the balance for £56 1/s 10d. He paid to 1 L. W. Balkind £SO on account of the loan on the motor truck and retained the balance. About the middle of May. 1922. he sold the motor truck for £llO to the Templeton Flour Mill Company, and out of the proceeds paid £62 to L. W. Balkind, the balance owing to him £l4 10s, to Smith Bros., being repairs to the truck, and the balance went in board while the bankrupt was out of work. The truck was in a very bad state of repair and it was practically impossible to work it. For this reason lie sold it. In August, 1922. he purchased a carrier’s van, horse and harness for £57 10s. which he borrowed from Balkind, the balance of the loan being interest. he had the van his earnings had not averaged £2 per week. The furniture was purchased by his wife from Harris Bros., and he was renting a house for 25s per week. He had no other assets. Owing to there being no quorum, the meeting was adjourned sine die.