BANKRUPTCY.

Gisborne Times, Volume XIX, Issue 1690, 6 March 1906, Page 3

BANKRUPTCY.

w. 0. SHEET’S ESTATE

The following statement has besn filed with the Deputy Assignee by W. 0. Skeet, builder aud contractor: “ The immediate cause of my filing a potition in bankruptcy was the issue of numerous summonses against me,and alio tho sotving of many notices of liens on my employers. Some little time ago I first became aware that the business was a losing one, but I could not at that time account for the deficiency, as my books had not been made up. I, however, took no more contracts from that time, but endeavored to profitably complete those then in band. My books having been made up I find that tho deficiency as shown in my statement is made up in the following manner : Losses on contracts £9Ol 0 0 Trade expense’, inclusive of rates, taxes, insurance, interest, adverting, printing, etc., not apportioned to the various contracts 897 13 6 Private and household expenses ... ••• »•» 747 11 4 Total £2546 3 10 ii j have been in business for nearly four years, and attribute my failure to want of capital, and in a lesser degree to accepting work at 100 low prices, and to the increased cost of material and labor. Tho want of capital prevented me from concluding contracts expeditiously, and in several oases he want of material and consequent dolay oonvortod a profitable contract into a . losing one. I have no off** to make to my creditors."