BANKRUPTCY ACT.

Dominion, Volume 1, Issue 47, 19 November 1907, Page 4

BANKRUPTCY ACT.

CHARGE AGAINST A DRAPER. (BT TELEGRATH —PRESS ASSOCIATION.) Auckland, November I®. Alexander Patcrson, draper, recently carry* ' inc on business in Hawern, was placed upon his trial at tliei Supreme Court to-day, charged with committing six breaches, or. offences, under the criminal section of the Bankruptcy Act. The indictment set forth that the prisoner being adjudicated a bankrupt, did not disclose to the Officii Assignee oil his property i that his bankruptcy was attributable to rash and extravagant speculation; that within three rears boforo tho commencement of his bankruptcy he failed to keep such books of accounts as wero nsual or proper in the business carried on by him; that in Hawera, between Mayl 1905, and September 19, 1586, he eentraeted a debt for the sum of JCIS7S 2fl. sd, with Heath, Slioath and Co., when he could, not at the time the debt was contracted hare .had any reasonable or probable grounds of expectation of being able to pay the same ,as well as his other debts. lie was further charged with having similarly contracted debts with Sargood, Son and Ewen, .£52 ss. 5d., and JaS.Hodg.ion, .£2O is. 6d. . Ernest Gerard, Official Assignee, said that the prisoner was adjudicated a bankrupt on his own petition on September 19, 1908. A number of debts in tho estate wore proved which prisoner had not fiven hira i particulars of. Prisoner's liabilities were stated by him at <-E14 ( 800_, and ( the assets JJ7BOO. Prisoner's liabilities, including secured creditors, were actually about J515,609.He had realised the wholo of tho estate except a few book debts. The dividend would probably be Is. Gel. in tho pound. The books used by prisoner were of tho right kind, but woro not properly kept. , The hearing of tho case was adjourned till to-morrow.