NO BLUE IN THE SKY.

Dominion, Volume 3, Issue 908, 30 August 1910, Page 3

NO BLUE IN THE SKY.

-» ———:" ■ A BANiCROTT'S AFFAIKS. There being no quorum at the meeting of creditors , couveued by the Official As-siu-nee lUr. A. Simpson) for yesterday to discuss 'tho affairs of Frederick M. Solomons, tho proceedings were adjourned In Ms-sworn statement,-the bankrupt declared that he . was solvent up till eighteen-months ago, .but his wiles continued ill-health embarrassed him m the conduct of his business.-■ He depended largely upon the working classes for trade, but, there had seemed to be. nn exodus to Australia and elsewhere of these. . The keen competition in: : the tobacco trade also cut into his business, and after a failure to" eomproiiiisii with his landlord on the subject of arrears of rent,' he accepted the advice of -Ins largest creditor, .Messrs. P. Jlnyman and Co., and became bankrupt.' ■■•■■,. ■" The . Assignee remarked that the ■ liabilities to.unsecured creditors—there were none secured—totalled .£lls 2s. M., against which the bankrupt assessed his stock-in-trade at ..£7O. According to: the bailiff's valuation from .ffiO to £6i would be nearer the mark. Ho hart called fui tenders for the stock, and: these would be opened in committee that morning. It. hod to-be uoted that the amount owing for rent, .£l3 Gs., would come in as a preferential claim, so that there was very little left, to divide out iiir the-other creditors. The estimated deficiency i,n the estate, ns set ont.by. the bankrupt, was -£45 2s. 3d. Among, the largest of the unsecured creditors were Messrs. P..Hnyman and Co., £(u; I'lyger and Co., .£10; and Veitch and Allan, £& 3s. ■■■ , • ~ , The proceedings were.then adjourned.