RAISING THE WIND.

South Canterbury Times, Issue 2506, 1 April 1881, Page 2

RAISING THE WIND.

•A DUNEDIN RODANOW.

For some time past the advertising cplurOris' of the Dunedin papers, have been inflated with ’ announcements issued by one " Hancox & Co” offering 'to supply’diamond rings of the first water for a guinea each, and watches at fabulously low prices, on the remittance of coupons and Post Office orders. The firm turned out to be a “ smart individual named R. H. Ahn, who JJfigured; at the Supreme ■ Court on Wednesday, before a large’meeting of his creditors. It appeared that his liabilities were £260 and his. assets nil. In reply to his creditors the debtor’said that he arrived in Dunedin about fifteen months’ since, and worked at his trade as a manufacturing jeweller for about six months. He then commenced the business of distributing watches, jewellery, and furniture through the agency of coupons and art unions, which he carried on ,until the time of his insolvency. He thought that he had received £2OO in all ,ffor coupons for bis jewellery and art unions of furniture. Had not kept any books except a bank pass book, which was now at his banker’s, and showed a credit balance of Is 4d. He commenced business with no capital and wiitli no s'tbck, and simply purchased or made the jewellery as the coupons cable in. He purchased hia goods principally from Rothschild and Jacobs, Neill, and Adair. There was of all the country orders he received, a counterpart of the coupons having been kept. He had not paid into the bank all the money he received, but the greater part of it. Had bad very little work, for the past few weeks. Was in business in Christchurch before coming to Dunedin, and becameinsolvent there. This was about fifteen months since. Had .not yet got his discharge. A Creditor—Have yon forwarded all the prizes for which you received coupons and the cash required ?

The Debtor —I believe there are two or three prizes which I have not been able to send.’ A Creditor —You in fact obtained money through this coupon system for goods which you really did not possess —a proceeding which simply amounted to obtaining money under false pretences;

Another Creditor —Is it not the fact that you cashed post-office orders received 'from the country when you knew you were hopelessly insolvent and could not possibly send the goods which the people who sent these moneys had a right to expect? The Debtor —I could not say for certain. I hoped to be able to meet my liabilities until-the time I was arrested at Port Chalmers. A Creditor—Was it not the case that when you were arrested you were running away from' your creditors ? The Debtor—No ; that is absolutely false. I went to Port Chalmers to see on old schoolmate, who was leaving for Home by the Waitara. I saw one of ray creditors on the platform, and understanding there was an impression abroad that I was about to leave the province, I took the creditor in question to Detective Walker, who was also there, and said that I would place myself in the detective’s charge, so that the truth of my statement that I was simply visiting Port Chalmers on business might be manifested.

One of .the creditors present said that he understood the debtor had gone the rounds of the colonies, carrying on the same game, and coming to the same end as he had done here, and considered the proceedings of the debtor were of a most discreditable nature. The meeting could at present do nothing further, but it was evident that this was a case calling for the strictest investigation by the trustees, , The meeting then broke up.