AN EXAMPLE TO OTHERS.

Greymouth Evening Star, Volume XXXI, 18 July 1901, Page 4

AN EXAMPLE TO OTHERS.

One of the men most honoured in Norwich to-day, says a London daily paper, is a former citizen, who is toiling in New Zealand to pay off his creditors of twenty years’ standing; and has partly accomplished his object, In 1879 a general merchant in Norwich, Mr 0. W. Goodson, made a deed of assignment, and his estate yielded 8s 5d in the pound. With a promise to pay the rest of his indebtedness in the future, Mr Goodson sailed for New Zealand. There he set to work to retrieve his broken fortune, and for a time prospered. When he was on the eve of fulfilling bis promise a wave of depression passed over the colony, and Mr Goodscn, for the second time, failed in business. The outlook for his Norwich creditors was then black indeed, but Mr Goodson was not to be beaten. A third time he sot to work to establish a balance in the bank. The third time he succeeded. His business prospered, and- by three instalments he paid his colonial creditor's in full. Having done this he wrote to Norwich • for a list of his Home creditors, and on Saturday a number of these received invitations, “in re Goodson,” to attend the Official Receiver’s. Awaiting them they found Mr Goodson’s first draft of £992. According to Mr Goodson’s instructions, creditors for sums under £lO were to be paid in full, the others in proportion. On Saturday the smaller creditors received cheques at the rate of 11s 7d in the pound, clearing off their claims. To the larger creditors a dividend of 6s in the pound was paid, making 14s od on a sum of £SOOO. Mr Goodson -wrote that he hoped to send them the remaining 5s 7d within the next twelve months.