BANKRUPT CONTRACTOR BUILT WAIROA BRIDGE

Sun (Auckland), Volume I, Issue 275, 10 February 1928, Page 13

BANKRUPT CONTRACTOR

BUILT WAIROA BRIDGE

Bankruptcy has claimed Alexander Fraser, builder, of the Northern Wairoa bridge, not long opened to traffic. He met liis creditors this morning in the office of the official assignee, Mr. G. £7. Morris. Bankrupt’s estate was too much involved for disentanglement without further inquiry and the meeting was adjourned pending a fuller statement by Fraser. Fraser’s financial statement showed a nominal surplus of £1,804. He owed £ 1,335 to unsecured creditors and £129 to secured creditors. He valued his assets at £3,269. consisting of property said to be worth £3,261, and book debts £B. Explaining his failure bankrupt said that lie was embarrassed first by delay in the settlement of the Northern Wairoa bridge contract and his father’s estate, and also in connection with a contract at Milford for the Takapuna Borough Council. He had also suffered greatly from ill health. The assignee intimated his intention to call another meeting when further information was available. Bankrupt was instructed to prepare a statement of his property at Huntly and Milford, showing what property belonged to him and what was included in the partnership estate of his late father and himself.