TRADING AT A LOSS.

Patea Mail, Volume I, Issue 3, 31 October 1887, Page 2

TRADING AT A LOSS.

New Zealand appears not; to be t only place where business is carried | at a loss, if wo miv judge from t following report of ilie Inspect* General in Baubruptcy, (Eaglan* Carrying on business at a_ loss d< not seem a very attractive game, a obviously it can on’y be played somebody ciso’s cost. Xot the rep of lire Inspector Geiieuil in among numerous other items of : terosr, mentions the cas> of a firm, coal ami iron masters who upon strict investigation of tlieir af& which the Bankrupted • Act compell were found to have trading a loss continuously for thirteen yea Another firm in vho iron trade did t same for nine years. Tho amazi thing is that in both cases tho fid were paying a ho .vy income tax uj estimated p-rotlrs. In tho Carl:

district a man who had only thirty forty pounds of his own common* business as a coal and lime mercho lie got property worth. £2,500 allowing £2OOO to remain on in( gage, and borrowing tho rema , der from the bank eu a gx raatoo of some relations. Ti estab ished, he obtained rhoro ere and, finally failing, paid a dividend 2s od in tlio pound. A clerk; at Lit i pool, who bad been discharged by ; employer, and whoso furniture hj I been sold under a bill ox sale, opei j an office, chartered six steamers, a , bought a seventh. He is now a bat . rupt with no assets Such ca( rightly suggest to the Inspect* General that more specific guidai should be given to the courts on t subject of the debtor’s < the hoiuousnoss of trading af insolvency there is, it appears, a m chievous diversity of view. The coi in tho Carlisle case refused to lu j that the debtor was guilty of rash a | hazardous speculation, and g ant j him a discharge subject to a uomit ; sus2>ensioa of throe months for oti : business indiscretions.