IN BANKRUPTCY.

Gisborne Times, Volume XXI, Issue 1707, 24 March 1906, Page 3

IN BANKRUPTCY.

TWO ESTATES IN ASSIGNEE'S HANDS. Sarth and Scott, builders, have g'veilin the following statementWe have, shortly, to report our bankruptcy as follows : Wo started in business in Gisborne in partnership about a year ago. We had no capital, but Mr Stafford at first assisted us with credit. We took up a contract to build a dwelling on Haiti, and lest over it about £2OO. Since then we have gradually gone to the bad, but had hoped to make up the deficiency. Mr Leslio’s contract is oompletß, and there is a balance coming of £154, but there are a large number of liens filed against it, The Hospital Trustees bave served us with notice that if we do not go on with the work before the 28th inst. they will take it over. If this contraot is finished there worild probably be sur* plus of £l2O. We have entered into oonlraots up the ooaet (and made deposits amounting to £45, which will be lost)*

but they would not pay to carry out. Ono of our oroditors pressed us, and wo called a private mooting of oroditors at Mr Ohrisp’s oflioe. Those who attondod unanimously dooidod that wo should file, and that tho Assignoo should bo asked to carry out tho hospital oontraot. Wo aro unable to make any offor to our orodi- 1

tors.” A deficiency of £5Bl 10s 7d is Bhown Tho assots comprise stock-in-trade on promises, Gisborno, £ls, book dobts £5 17s Bd, ertimotod to produoo £5, Mr Loelio’s oontraot £154, Aloxondior Tea Rooms £BS, hospital oontraot (If finished) about £l2O, furnituro nil, total £879. Tho liabilities aro all unscourod, and total £9lO 10s 7d, tho amounts boing Francis Stafford £240, Alpha Sawmills £167 10s 6d, Evans, Niold and Co. £Bl 7s lid, W. Webb £56, Wade and Gray £69 'los, Thcs Morrison £35, Common, Shelton and Co. £99 13s, W. H. Clayton £4l 11s Bd, H. Currio £l6 13s 9i, R, Holt (Napier) £lB 4s Bd, H. H. Gibbs (oartor) £2O, Geo. Bates (oaiter) £lO, Gisborne Borough Oounoil (permits) £3, J. Smith I £l, W. O. Skeol’s ostato £l.