00685 OF A PENNY

Evening Star, Issue 20053, 19 December 1928, Page 3

00685 OF A PENNY

Notice was given in a recent London ‘ Gazette' that a first dividend of .394 of a penny per £ is to be paid under tho failure of Boulton Bros, and Co., merchant bankers, Old Broad street, B.C, The following dividends were also announced in connection with the separate estates of the partners in the firm: Mr Archibald Julian Charles Browne, .00685 of a penny in the £ (first and final dividend). Mr Robert George Hopper Boulton, one shilling and 9.837 pence in the £. Mr William. Whytehead Boulton, 2.4/7 pence in the £. Lieutenant-colonel the Hon, Frederick Heyworth Cripps, .235 of a penny in the £. Mr Gerard Alexander Moncrielf, 5.028 pence in the £. The dividend in the case of the. firm is approximately two-fifths of a penny in the £. In the case of Mr Browne the dividend is about a 146th part of a penny in the £, and that of Lieutenant-colonel the Hon. F. H. Cripps is just under one-third of a penny in the £. The adjudication of bankruptcy in the case of Boulton Bros, was made in October, 1924. The liabilities were stated to be ■£2,124,556, the deficiency being estimoted at £2,123,116. A high official of the Bankruptcy Court said no fractions of pennies would bo paid out. “ The trustee has got to distribute what money he has, and if there is a creditor for, say, £5,000, obviously it will come to an appreciable .amount. “It does not mean splitting farthings. Tho smaller creditors would not trouble' to prove, as it would not pay them to do so."