HAD CARS FOR HIRE.

Star (Christchurch), Volume XLIV, Issue 192, 14 August 1931, Page 7

HAD CARS FOR HIRE.

Mechanic Unable to Pay His Debts. A meeting of creditors in the bankrupt estate of Alfred Driscoll, 85, Cam bridge Terrace, motor mechanic, wai set down for this morning. There was no quorum, but the Assignee (Mr J. H. Robertson) made an examination of bankrupt’s position. The statement showed debts totalling £413 19s 9d and assets in the form of book debts amounting to £2O, leaving a deficiency of £393 19s 9d. In his sworn statement bankrupt said that in 1927 he was managing the busi. ness of Christchurch Rental Cars at a salary of £6 a week, but owing to a rearrangement he left there and started a garage business in Papanui. In December, 1928, bankrupt purchased the business of Christchurch Rental Cars, giving a deposit of £IOO and agreeing to pay the balance in two years. Half the deposit was paid by bankrupt’s father and half by bankrupt. At the time bankrupt had no debts. While running the rental car business bankrupt also kept up the garage at Papanui. The business of the rental cars started to go back because all the cars then in use were of the open type and did not meet the requirements of customers, who were demanding closed cars. A dispute arose between the vendor of the business and bankrupt and bankrupt ultimately traded in the four cars. He was allowed £260 on them and took over three new vehicles at a total cost of £B7l, plus interest and insurance. With the closed cars bankrupt was confident that he could get the business. The balance payable in respect of the new cars was spread over tw'o years at the rate of £27 0s lOd a month. The business improved for about six months, but after that fell away steadily. During the winter there was practically no demand for the cars and very little work was done in the garage. In pursuance of orders on judgment summonses two warrants were issued against bankrupt. When he had the money he paid something off these warrants, but now found that he was not able to carry on. Bankrupt had no prospects and could make no offer to his creditors.

After questioning Driscoll regarding his position, the Official Assignee adjourned the meeting. Mr Lee appeared for bankrupt.