IN BANKRUPTCY

Horowhenua Chronicle, 19 May 1916, Page 3

IN BANKRUPTCY

j iiO.ilAb .UKisliiiß. liio mefUug ot Ciccuku's ol liio uaa -Ueaaitea', o>Jt) OUlki, contractor, was hold yosttuday at the oilice of Mr tt. L. ticot/t, Deputy Oiiiciad Assignee. Tho only creditor present was Mr G. (1. Scott. Bankrupt's schedule disclosed unsecured creditors amounting to £214 It* tkl and asi>ets nil. Hie statement was as under:— 1 had a Miiall business a a Hairdresser a,t Otaki, and nnding it difficult to make ends meet, thought i saw an opportunity in the ma/ii contract from Otaki to the railway station. 1 purchased a motor oar from tho Scott Motor Company for £200, paying down £50 deposit, arranging to pay the balance by P.N's. of £00 each at three, six -and nine months respectively. The car did not provo a success «md continually broke down, and I hadi difficulty in getting it attended to, as I was such a distance from Wellington. 1 had several small accounts for repairs, and made every effort" to get the car to go with>ut avail. I wa3 sued by the Soott Motor 00. on my first bill of £50 and ailfeo by three firms to whom i owedi money for repairs, and by McKegg and Vaughan lor rent. This last item is for storage of the barber's chair and counter, while I was engaged at the mail oontaot. The £50 deposit 1 paid on the car was all the monejy I had at the time and having no assets lam forced to file. 1 attribute my bankruptcy solely to the failure of the car to run, as otherwise I think A could; have made (with the £75 ier annum mail contract) a good living Under examination bankrupt admitted that all the debts were oontraoteel since 'the initiation of the mail oon- : tract with tho exception of the amoint |of £7 IBs owing to Te Am House. He ! further stated that the whole of the j contract monies were spent on hone expenses, and that in any case he wo 3ld havo lost "niouey as the contract was taken too cheaply. As there wan no quorum present the meeting lapsed.—Manawatu Times.