RECKLESS TRADING.
.(Per Pross Association.) Gbrietohuroh, last night. The first meotiDg of creditors of James Scott, furniture manufacturer, was held this morning. The statement showed the total debts to bo £1230 15s, and assets £785 6s, leaving a defioicnoy of £445 9s. The Official Assignee, in explaining bank rupt’s position, said the business was a pretty mixed one, Having little capital, goott had carried on principally on bailments. A business like' bankrupt's required considerable capital, and Scott had raise# the nooossary money on bailments DOW he got deeper and deeper in financial troubles. Debtor was subjected to a severe examination by the creditors, who agreed to leave the disposal of the assets to the Official Aseignpe.
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Bibliographic details
Gisborne Times, Volume XIX, Issue 1571, 29 September 1905, Page 3
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116RECKLESS TRADING. Gisborne Times, Volume XIX, Issue 1571, 29 September 1905, Page 3
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