CHAFF-CUTTING NOT A PAYABLE BUSINESS.

Star (Christchurch), Volume XLIV, Issue 77, 31 March 1931, Page 9

CHAFF-CUTTING NOT A PAYABLE BUSINESS.

Robert Sloper, of Amberley, was to have met his creditors in the Official Assignee’s office this morning, but owing to the lack of a quorum, the meeting lapsed. Bankrupt, in his sworn statement, said that he had commenced business as a chaff-cutting contractor in 1922, purchasing a plant for £BSO. Of this amount £225 was borrowed from his wife, £220 from the Repatriation Department, £75 was his own, and £330 was left owing to the vendor. The loan from the Repatriation Department was secured by chattel security, as was the balance of the purchase money. About a year later, Mr A. S* George, of Amberley, paid the money owing to the vendor and took over his chattel security. After 1927, bankrupt realised that his business was not paying, but carried on hoping that he would be able to secure better contracts. In 1927 another contractor started business in the same district. Sloper stated that in eight years, repairs to his plant had cost £350, and on two occasions he had had to hire an engine to keep his contract. Realising that he could not carry on, he sold his plant in April, 1930, for £4OO. The sum of £2BO was owing to the Repatriation Department and Mr. George, leaving £l2O with which bankrupt paid some of his creditors. He owed £2OO apart from the sum which he owed his wife. He was a married man with two children, and was at present out of work.