A DRAPER’S FAILURE

Sun (Auckland), Volume 1, Issue 6, 29 March 1927, Page 9

A DRAPER’S FAILURE

WIFE OF UNDISCHARGED BANKRUPT ‘ WOMAN USED AS CLOAK” A meeting of creditors in the bankrupt estate of Edith Elizabetli Cory, draper, of 49 Great North Road, was held this morning before the Official Assignee, Mr. G. N. Morris. Liabilities amounting to £240 11s lOd were owing to unsecured creditors. The assets consisted of stock valued at £45 and furniture £25. The deficiency was therefore £l7O 11s lOd. In a written statement bankrupt said she commenced business with £IOO in July, 1926. She attributed her failure to trade depression and to the competition with large firms. She had no experience in the drapery business before her venture. Questioned by Air. Morris, bankrupt stated that her husband transacted the dealings with the creditors. She merely acted as saleswoman in the shop. ‘lt is clear,” said the Official ! Assignee, “that Mr. Cory, an undis- | charged bankrupt, has actually con- ! ducted the business by using his wife | as a cloak.” ! There was not a quorum of creditors j present. The meeting was adjourned 1 I sine die. j