BUTCHER'S ESTATE.

Dominion, Volume 4, Issue 1219, 30 August 1911, Page 6

BUTCHER'S ESTATE.

The Official Assignee (Mr. A. Simpson) presided ov.or a meeting of creditors of Frederick Jamos Mann, butcher, Upper Hutt, yesterday. The bankrupt was represented by Mr. Webb, who stated that he started business nearly two years ago with; a capital of .£SO, and he borrowed .£2OO from his brother, Albert B. Mann, bootmaker, Wellington. Ho also hired from, his brother certain horses, carts, and ' necessary plant. He expended his and "his brother's money in the purchase of stock. For the first twelve months the business, though not profitable, paid its way, and since then the trade had increased, but he had not sufficient capital to allow him to carry it on. His present position ho attributed to the high price.- of stock, difficulty of collecting accounts, severe competition of other butchers, high price of fodder, and tho illness of himself and his wife.

The' sobriety, and general integrity of the bankrupt-wero testified to by Mr. Webb with tho: support of several creditors. The Official Assignee concurred. The unsecured creditors amounted to ,£•188 3s. ,2d., and the assest (book debts £261 lfe'lOd.) t0'.£263 Is. 9d., leaving a deficiency "if i! 225 3s'. 2d. The principal creditors were: A, E. , Mann J2OO, D. Bauge .£6O, Dalgety and' Co. .£33, W. Barton £%.- ■ " ■ .

The Official Assignee said that this was one of thos-o cases in which bankrupt had dono his best. Tho difficulty of getting in money and the high prices of stock had made it imperative fov him to close down. Endeavours would bo made to get in the book debts, and if this provDd successful there would most likely bo a dividend of 10s. in the .£l. The' meeting resolved not to oppose bankrupt's discharge. Mr. E. W; Cottie proposed this course, and Mr. C. E. Swanson seconded it. The meeting adjourned sine die.