A PUKEKOHE BANKRUPTCY

Pukekohe & Waiuku Times, Volume 4, Issue 111, 22 November 1915, Page 1

A PUKEKOHE BANKRUPTCY

The first meeting of creditors in the bankrupt estate of William Robert Grace, tailor, of Pukekohe *&bt held last Wednesday in Aui-k* lan. The official assignee, Mr W. S. Fisher, presided. In his statement, bankrupt said he had commenced business io Pukekohe on September 22, 1914, his capital at that time being a sum ot £ls. Business bad been good until Christmas, but since then it had greatly ' diminished. The war had called away the greater number of young men in Pukekohe, ard it was too them that bankrupt had looked for the greater part ot his trade. His health had been very inditfereut during the time he had been in Pukekohe, and this bad caused him to employ assistance to do work that he would otherwise have done himself.

Bankrupt's schedule showed that his liabilities totalled £179 6s 3d, all owed to unsecured creditors. Tbe assets consisted of stock-in-trade £57 19s 6d, book debtß estimated to produce £2O, and cash in hand £1 Is lOd-a total of £79 Is 4d. The deficiency was, therefore, £IOO 4s lid. In reply fci the official assignee, bankrupt said he could not make a definite promise to his creditors because he did nut know bow much work he would be able to get. The Official AsEingee: It appears to me that you are not very anxious to make an offer. Bankrupt: I am anxious to pay off all my creditors.

The Official Assignee: Yes; but a little exertion is needed to c u ...at.

Bankrupt: If I could get work straight away 1 could offer to pay my creditors at the rate of 30s per week.

Ihe Official Assignee: Could you pay £1 per week consistently? Bankrupt: I could not say. Ihe Official Assignee: Are you married 7

Bankrupt: No; 1 am a single man.

A lengthy discussion followed in regard to bankrupt's trade dealings, and it was eventually resolved to request the official assignee to lay the case before the Crown prosecutor wiith a view to having bankrupt prcsecuted, this resolution to be suspended for one week in order to see if bankrupt could secure promised employment in l'auranga. The stock-in-trade was ordered to be brought to Auckland fur realisation.