DEBT COLLECTOR’S DEBTS

Wanganui Chronicle, Volume 77, Issue 82, 7 April 1934, Page 10

DEBT COLLECTOR’S DEBTS

DECISION OF CREDITORS MATTERS HANDED TO POLICE f Per Pre33 As«*ociatlon. 1 PALMERSTON N., April 6. Nearly 50 were present at a meeting of creditors of John Robert Mcllraith, agent, held to-day, when a resolution was passed requesting the D.O.A. to place the whole matter of what appears to be a ce.se of trust moneys not paid to creditors iu tho hands of the police. According to evidence tendered, bankrupt, after incurring considerable liabilities in Wellington while a salaried debt collector, came to Palmerston North 18 months ago, and although on his own admission was practically insolvent at tho time, commenced a debtcollecting business of his own with a capital of £34. He recently filed a petition with a deficiency of over £l6OO owing to nearly 300 creditors, chiefly persons for whom he undertook to collect debts. The creditors are resident in a wide area covering Palmerston North, Fcilding, Foxton, Rongotea, Dannevirkc, Raetihi, Taihape, Huntcrvillc, Mangaweka, Johnsonville, Otanc, Waipawa, Pongaroa, Pahiatua, Shannon and elsewhere. Bankrupt was subjected to a lengthy examination. He attributed his failure to lack of capital and hard times.