Heavy Failures.

Feilding Star, Volume XV, Issue 317, 18 May 1894, Page 3

Heavy Failures.

DEFICIENCY OF A QUARTER OF A MILLION. (PKB PBEBS ASSOCIATION). Melboubne, May 17. The complete schedule of Mr John Robb, railway contractor, who has conducted railway works in New South Wales and Queensland, as well as in Victoria, has now been filed in the insolvent Court. His total liabilities are £861,505 and assets £448,528, leaving a deficiency of a quarter of a million. Amongst the principal secured creditors are the Commercial Bank, £151,000, out of which £145,000 is overdraft j Federal Bank, £57,000 ; National Bank, £49,000 ; the City of Melbourne Bank, £IS,OOO ; while the Bank of New South Wales, Sydney, is an unsecured creditor for £32,000. Mr Robb also, jointly with Messrs A. R. Blackwood and H. Armstrong, owes Messrs Dalgety and Co., of Sydney, £153,000. The Melbourne Savings Bank also figures as a creditor for £73,000, money out on mortgage. The insolvent estimates that he sustained the following losses within the two years prior to sequestration : — Depreciation in the values of freehold and leasehold properties, £665,209 12s 9d ; leases in connection with the Gudgeon sugar plantation, £104,112 4s 6d ; depreciation in the. value of shares in trading, tramway, and other companies, £50,000 ; losses in connection with the Tallawanta station, £101,002 18s 6d ; bank shares, £48,120 3s 7d ; guarantees for others, £35,078 15s lOd ; building society shares, £17,891 4s 6d; bad debts. £10,747 15s lid ; total, £532,103 13s 6d. Another considerable insolvency is that of Mr J. T. Charles Troedel, lithographer and printer, of Mcl bourne and Sydney. His liabilities are £48,573 and assets £25^346. The Commercial Hank of Melbourne is the principal creditor, with £17,000 on trade account and £11,800 on private account. Mr Roberts, M.L.C., a solicitor, has failed, with liabilities amounting to £200,000 and assets £115,000.