BANKRUPTCY OF A BAKER

Dominion, Volume 14, Issue 41, 12 November 1920, Page 2

BANKRUPTCY OF A BAKER

J ' CREDITORS ASK QUESTIONS. The adjourned meeting of creditors in ■ the bankrupt estate of William Stephen » Harris, baker, of Rona Bay, - was held -. yesterday afternoon., The Official Assignee - (Mr. 6. Tansley) .presided, and there were j ten .creditors and .the bankrupt- present. . The first meeting was held a- week ago, ' and was adjourned for the purposes of [ securing tho attendance of the bankrupt, > who was then in Wanganui, the notice of the first meeting not having readied ■ him in time. The statement submitted l by tho bankrupt Bhowcd debts totalling . '£239 Bs. 4d., and assets £127 17s. 9d., the , deficit being £111 10s. 2d. , ■ Tho bankrupt yesterday said that he b/id ' been in business from February to Octo- '• her 7, and ho borrowod money from Mr. • H. M. Jones, grocer, of Rona. Bay,, for i the purpose. Some of this money, had been ■ repaid; the terms of repayment were £8 [ per month. He thought ho had paid back £50...He borrowed £.49,.and it was alleged by the bankrupt that ho had to pay back £120 at tho rate of £8 per month. The bankrupt said he could not , account for his bankruptcy, for ho worked hard, wasted nothing, and neither drank • nor gambled. His takings averaged about ' £5 per .week, he had a e'rl in the shop - who reccived-265. 6d., and he paid board for 1 himself and two children. JE2lOa. per. week. • Ho paid all his takings into the bank, except what he paid for board and the girl s wages. Bankrupt also said ho was to purchase a cart from Mr. Jones, the. grocer, at Rona' Bay, but ho' could not say whether ho had .paid anything .for the '"When did the bankrupt flrtt realise that he was in difficulties?" asked a creditor, and the bankrupt replied that he was In difficulties from the start, and from the middle of September he was in a bankrupt condition. H. M Joneß, one of tho creditors, sard that ho disputed the statements made by the bankrupt with respect to tho advance of '£120, and the purchase of tho cart. He made a- cash advance of £48 15b. . which covered the actual cost of the stock taken; tho bankrupt had also a new' set of harness (value £15). If, as the bankrupt alleged, he bought the can, then that was £37, and Mr. Jones said ho paid for a box of butter,.and guaranteed the bankrupt's. account for tho first month with Bnrch and Co. The bankrupt had not repaid £49 as he alleged, ihe total that Mr. Jones held himself responsible for was £100, and the bank■rupt volunteered to ropar £120. That sufely was. not exploiting him. more cB . specially (remarked Mr. Jones), since I was very generous to him, aud told him f no wcro in difficulties to pay the merchants? and let my account stand over, The merchantswill bear mo outhi that Mr, Jones rurther' Btated that the taxings W The Kruprsaid Kto taking wore for the shop only; ho. could not say what the cart takings wcro without going creditor, said that he knew that the bankrupt worked hard, and turned out as much BtulT as ono man could turn out. Ho had been trading for St montliß, and had done pract caUy a caßh trade, yet ho closed up owing tho creditors a comparatively largo sum. Jlr. Burch wanted to know where tho money 'l'lio Official Assignee Jiaid that about £174 was paid into tho hank during August and September, which tho bankrupt said were busy months. The tender received for tho bußinoss was £63, and tho Official ABslgnoe said he concluded the deal at tho prico. This covered the plant in the bakehouse, iwd the horse and harness. '• Tho meeting was adjourned sine die to enable the bankrupt to go through ht« books and prepare a further statement.