IN BANKRUPTCY.

Stratford Evening Post, Volume XXXV, Issue 75, 5 April 1913, Page 8

IN BANKRUPTCY.

IN HE F. GOOCH’S ESTATE. A meeting of creditors in the bankrupt estate of Fred Gooch, late staUleproprietor, Stratford, was held >n the D.O.A.’s office yesterday afternoon, when the following creditors) were present Messrs W. C. Aagaard, Robert Masters, T. Wilson, W. Mudford, J. Smart, A. Stewart, W. Cato, H. Childs. Mr Robert Spence appeared on behalf of the bankrupt. In his sworn statement, the bankrupt said that three years ago lie was solvent, and able to meet all demands, but since that time he had gradually got into debt. He attributed his bankruptcy to the following causes: — (a) During the last three years his business had decreased considerably through the number of motor cars plying for hire in Stratford. He (bankrupt) purchased a motor car, but unfortunately it was out of repair for some months, and it involved him in considerable expense. He* still owned the car, but it was included in “stock-in-trade” shown in hit, statement, in which he also included his own horse and two gigs. (b) He had been unfortunate in his bookkeepers, and accounts had been allowed to run on indefinitely, and he had been unable to collect the money owing to him. In his statement his book debts were shown at £I6OO, and although he estimated that they would produce only £4OO, this u;as a low estimate as they ought to produce a sum considerably in excess of this, (c) Ho had been very unfortunate with his horses, having lost about £250 during the last 2i years by reason of the fact that several horses had met with fatal injuries. (d) A few months ago ho sold his business. The proceeds went towards paying his indebtedness to Mr Newton King. As soon as he (bankrupt) had given up business his creditors commenced to press him. Numerous summonses were issued against him, and for some time he could satisfy these. On the 2Sth of March the bailiff, after holding his motor car, decided to sell by public auction, sooner than see great sacrifices and in fairness to his creditors ho decided to file.

The bankrupt’s statement showed unsecured creditors, £3OO 4s lOd; secured creditors, £519 15s lOd, less estimated value of securities £400; stock-in-trade £l7O, book debts £I6OO estimated to produce £4OO, leaving a surplus of £149 19s 4d.

The secured creditors were:—Taranaki Land Building and Investment Society (Ist mortgage, estimated value of security £400) £6O, and Newton King (2nd mortgage) £450 15s 10d.

The unsecured , creditors were : Bellringer Bros., £26 3s Id, McMillan and Fredric, £1 19s Id; R. D. Lewers, £3 11s sd; R. H. Robinson. £3 4s 7d ; H. Spence, 10s 7d; J. Masters and Son, £l2 13s od; Cash Tailoring Co., £•5 ss; Jas. Rutherford, £3 7s 6d; H. J. Hopkins, £2 7s lid; W. Collins, £7 17s 9d; J. V. Shield, £l6; Smart Bros., £lB 3s 3d; Mcßain and Childs, £23 9s, 9d; Dr. A. Carbery, £4 13s; W. Lovett, £33; A. Stewart, £2 os; Central Co-op. Store, £2 15s 6d; M. C. Aagaard, £2B 5s Gd; Electric Light Co., £2 13s 6d; E. B. Stohr, £4 5s Id; j. McVeah, £3 9s 8d; B. Harkness, 16s; Stephens and Ryan, £3 11s lOd; Wilson and Son, £7 os 6d; N. J. King, £7 10s; Syme and Son, £1 8s od; F. Edwards, £2 2s 6d; G. Morrison, £1 17s 3d; W. Jones, £4; J. C. Felton, £ll 11s; R. Handley, £4 2s 6d; J. H. Thompson, 19s. The D.O.A. stated that the bankrupt had no knowledge of his financial position and knew nothing ol the details of the stables deal. It was decided to adjourn the meeting sine die to enable the creditors to have information placed before them concerning the bankrupt’s recent transactions.