WORKED LONG HOURS

Dominion, Volume 21, Issue 130, 1 March 1928, Page 15

WORKED LONG HOURS

PASTRYCOOK’S DEBTS “It was obvious that he was running a dead horse,” said Mr. F. R. Holtom yesterday at a meeting of creditors oi Phillip Reginald Webber, a pastrycook, of PaekakarikL The Official Assignee (Mr. S. Lansley) presided, and Mr. \\ estWalker appeared for bankrupt. The debts to unsecured creditors wore set down at .£4ll 7s. 3d., the total debts at £459 Ils. 5d., and the total assets at L7O 16s. 3d., leaving a deficiency of £3BB 15s. 2d. The principal unsecured creditors were: Thomson, Lewis and Co., Ltd., .£213 4s. 2d. : F. R. Holtom (Paeakariki), £lO3 7s. 6d.; Burns, Philp and Co., £55 7s. 3d.; »E. Johnston and Co., £5l 14s. Bd.; Bannatyne and Hunter, Ltd., <£2B 1/s. Id.; Thomson Bros., Ltd., £27 10s. 4d.; W. D. and H. O. Wills, Ltd., £22 3s. 3d.; F N. R. Meadows, Ltd., £2O 17s. 6d.; Goodall Bros., .£2O 10s. 3d. Bankrupt stated that m August 1926, he started business at "Inver’eith - I rivate Hotel, Paekakariki, which he took on a lease for three years at a rental of £4 10s. per week, to ba increased in December to March to £6 10s. per week. He started with a capital of .£4OO, which he obtained from the sale of his farm at the Hutt. Prior to opening tho hotel he spent £lOO on furnishings, etc. He had previously borrowed «£5O from a Mrs. Palliser, for which he gave her some jewellerv as security. The hotel was a failure from the start, and, with the exception of two weeks at Christmas, it had been practically empty. About May of last year, he came to the conclusion that the hotel would, never be a paying proposition, as a result of which lie wrote to his landlord requesting to be released from the lease. The reply was to the effect that the landlord would allow bankrupt a month’s rent, then owung, and that he would allow the rental to remain at £4 10s. until Christmas. Otherwise, the terms of the lease had to be enforced. In order to endeavour to counteract the looses from the hotel, he rented a pastry shop in Paekakariki, at 12s. 6d. per week, opening there m February, 1927. The shop was a paying proposition, and gave bankrupt a little help towards tho reduction of the losses sustained at tho hotel. The net profits from the shop amounted, on an average, to 22 per week. Some time after it became apparent that the profits from the shop dici not cover the losses from the hotel, and bankrupt began to get in arrears with his accounts. He then turned the shop into a fruit shop, and took on the premises next door, carrying on the business there of pastrycook, confectioner, and restaurant. His reason for doing this was to make an endeavour to increase the amount of the profits from the first shop. It was arranged that he should not pay any rent on the new

shoo until the season started, and that bankrupt should take a lease of the shop for five years, tho whole rent to be spread over the term. lhings*went from bad to worse, bankrupt’s difficulties being increased by domestic troubles. Bankrupt told the Official Assignee that he usually had to cook from 5 a.m. to 11 p.m. and midnight. Mr. Lewis (Thomson and Lewis), the largest creditor, moved that bankrupt’s discharge be facilitated. The motion was carried? and the meeting was adjourned sine die.