BANKRUPT STOREKEEPER.

Press, Volume LXI, Issue 18364, 23 April 1925, Page 5

BANKRUPT STOREKEEPER.

MEETING OF CREDITORS. The adjourned meeting of creditors of- the e»tate of Joseph Alfred Hobson, Linwood avenue, storekeeper, was held yesterday, the. Official Assignee, Mr A. AV. Watters, presiding-. The meeting had been adjourned from April 16th owing; to tho bankrupt being unable to attend because of an accident on the previous day. The amount owinsr to unsecured creditors was set down at £906 10s and to secured creditors at £&K. less estimated value of securities .£1450. Tho assets were estimated at i'Blo and included £560 surplus of estimated securities over amount of secured creditors, leaving a deficiency of £9G 10s. In reply to questions by 'tho Official Assignee, bankrupt elated that, among his assets were a. quantitv of calendars, in respect of which he had been sued. He had V l "s paid over £lO for tho calendars (including Court costs) which were not printed with his name or the rear, so couid be made uso of. There was* now less than £3 owing on the calendars. The Assignee said that as far as he could gather, the book debts which were estimated to produce £220 were worth very little indeed. Thera was practically nothing in the estate for the creditors except tho bookdebts, and what mi?ht be realised from the sale of tho calendars. 3he Assignee: What waa vour financial position in April, 1923, when you sold out?— 1 was £IOO to the good. How was it made up? 'What were your assets and liabilities?—Oh, thev were pretty good. "

£9o<? at Wer ° your book delota then?— About

At that time your book dobts were £9OO. What other debts did you havc?-None at all. Old you not receive any cash,?—l borrowed £l3O from my brother to meet interest on the business.

_\ou had then a i, on t -gggn and not bing else Yes; nothing else whatever. What were vour liabilities itien?—Somewhere about £2BOO. Your only assets were £9OO book debts?— its. And this is the time vou said von came out £lon to the good?-I was including the value of my property. After other ouestions had been asked the meeting was adjourned nine die.