BANKRUPTCY.

Gisborne Times, Volume V, Issue 112, 21 May 1901, Page 4

BANKRUPTCY.

ASSETS £SO—LIABILITIES, £1027.

,A petition in bankruptcy has been filed by David Beid, station manager. The bankrupt states his assets to be ;650, including furniture £25 and three horses £25, and his liabilities total .£1027 10s, the deficiency thus being £977 10s. Following are . the creditors (unsecured): New Zealand Loan and Mercantile Agency Co., Limited, .£850; Houlden Bros., Gisborne, .£ll2 10s ; William Tattley, architect, £6s'; total, £1027 10s. His statement is as follows:—“About seven or eight years ago I entered into a partnership with Mr Bartram in connection with a property at Pouawa, over which I had a lease at £l3O per annum, but no improvement clause. The place was well stocked, and a dwelling-house, with sheep-dip, yards, etc., were erected thereon. The Loan and Mercantile Agency Company “financed us in this business, but it never paid, and I never received anything from it in the shape of revenue or income. My creditors, three in number, are all in connection with this business, two for rent, and the Loan ar d Mercantile for advances. During the time of the partnership I was in a billet in the employ of Mr Barker, but I lost that billet about a month ago, and at the present time I am not in employment. My salary w r as £l5O per annum, and I was never able to save anything over and above it to provide for the accumulating debt on the Pouawa run. I have nothing to offer, nor do I see any prospect of any .offer available for the future. I filed as I was informed by one of the creditors that if I did not do so he would compel me to. The Loan and Mercantile, under their sEcurity, with the exception of three leases, realised everything on the Pouawa run,”