BANKRUPT TOBACCONIST.

Waipa Post, Volume XXIV, Issue 1401, 8 September 1923, Page 5

BANKRUPT TOBACCONIST.

CASE FOR INVESTIGATION. CREDITORS NOT SATISFIED. (By Telegraph. Press Association.) AUCKLAND, Friday. A meeting of creditors in the bankrupt estate of George William Tucker, hairdresser and tobacconist, Ponsonby Road, was held yesterday afternoon at the Official Assignee's office, Mr W. S. Fisher presiding. The debtor's total liabilities were stated as £253 12s 9d. Bankrupt valued the assets as: Stock in trade £73, and goodwill £25, total £9B. Mr Fisher said the stock had since been valued by an expert at £4B 9s Id. Bankrupt, under examination by Mr Fisher, said he was 24 years of age. He started business at Te Awamutu when a little over 21 years of age. His brother was not a partner, but they had up the name Tucker Brothers." Witness paid his brother wages. He was just making a living when the shop was burned down. He made a heavy loss, as he only got £BO insurance. That was used to pay his accounts. About March he again started business at Te Awamutu, and remained there until he sold out about 15 months later for £l7O. He owed about £l5O when he started in Ponsonby. His takings there were about £2 10s per week. In answer to his solicitor, Mr Mackay, bankrupt stated that the bank account was always in bankrupt's name. 'His brother never contributed any money towards the business. His mother owned the business at Grey Lynn. Mr Mackay said his client started business with £4O lent by his mother. He claimed there had not been anything dishonest, but purely had business on bankrupt's part. Mr Hayman moved that the case be submitted to the Crown Prosecutor. This was seconded by Mr Ramsay and carried.