CHINAMAN S BANKRUPTCY.

Manawatu Herald, Volume XLVI, Issue 2808, 8 November 1924, Page 2

CHINAMAN S BANKRUPTCY.

MARKET GARDENING FAILURE. A petition in bankruptcy has been tiled hy Yce Lee, market gardener, of AJarot.iri. In his statement bankrupt sets out that lie commenced in busiifess at Msmitiri three years ago. and had carried it on there until he filed his petition on November 5. Prior to commencing business on his own account, he had worked for a fellow countryman. When he started in business he had £4OO cash, hut the whole of that sum had been lost in the venture and lie had only sufficient money left to pay the filing fee. Hi 1 had no prospects of receivinir any monev and would have to work for wages. He could make no offer to his creditors.

Bankrupt's liabilities total £153 10/- and his assets £49. The latter are made up as follow: Wit a re. which cost £7O, is estimated to produce £25: horse and dray £24. The deficiency is £lO4 Iff'-. Included in the list of assets is one acre of cauliflowers and one acre of cabbages, lint not valuation has been I .laced on these two items. There arc no secured creditors, Imt there arc nine unsecured who are as follow: Parker and Vincent (Levin), £‘2l, If. N. Spoil's £25, F. Easton £.12, AI. B. Bergin £(>, Evans Bros. £l2 and H. B. Cress well £l2 (all of Foxton), Chung Wall (AVellington) £33, Pay Hung (Hastings) £24 and T. Bowc (Marotiri) £S.