In Bankruptcy.

Manawatu Herald, Volume XXVIII, Issue 3692, 3 July 1906, Page 2

In Bankruptcy.

At. Palmerston North on Friday afternoon the first meeting o' creditors in the bankrupt estate cl Arthur 0. Oliver, baker, of Foxton, was held at the D.O.A.’s office. Mr G. Scott, D.0.A., presided. Three creditors were present. The bankrupt was in attendance with his solicitor, Mr L. E. Reade. A written statement was put in by the bankrupt, setting forth that (i) He had commenced business as a baker in Foxton on ist March, 1906, with a capital of j£Bo, of which was borrowed. The latter was used for the purchase of a baker’s cart, horse and tools. The cart and horse were purchased for him by one George Foster, of Palmerston North, who, before his insolvency re-took possession, they having been on loan until the money was re-paid. (2) He had experienced difficulty in getting customers, despite salisfactory promises, owing to another baker having got a firm hold on the trade in Foxton. He thought that if he had been able to carry on for another month there would have been no necessity to file. (3) Not being able to get the necessary material to carry on he had no alternative but to give up business, and would not have filed had it. not been for pressure by creditors. In conclusion, he said he had been considerably handicapped by sickness in his family. The statement of liabilities and assets, showing a deficiency of ,£55 ns 6d, has already appeared in these columns. Bankrupt was then examined by the D.O.A. When he started business he owed and his assets were about £2O. The purchase money of the business was £2s. He was a baker by trade, and had done about a ton a week. He was now working at a flaxmill at 8s per day. He had a wife and two children depending on him. No resolutions were passed, and the meeting terminated, — Standard.