TAXIS AND TOBACCO

Sun (Auckland), Volume II, Issue 360, 22 May 1928, Page 12

TAXIS AND TOBACCO

BANKRUPT EXAMINED “LEAKAGE SOMEWHERE” (From Our Own Correspondent) HAMILTON, Monday. “There is a leakage somewhere. With a turnover of £SO a week the position should be much better than this,” said Mr. J. Robertson, official assignee, when examining the books of Sapiuel Henry Dwen, taxi-driver and tobacconist, of Te Awamutu, at a meeting of creditors in Hamilton to-day. Bankrupt debts totalled £2,146, including £726 to unsecured creditors. His assets were valued at £2,571, including £175 stock-in-trade, £394 book debts (estimated to produce £200), car £75, and property £2,120. A nominal surplus of £424 was shown. In his statement bankrupt said he had been carrying on business as. a tobacconist at Te Awamutu for 21 years. When an assistant driving his taxi was inefficient he took over the car himself and allowed another assistant to run the shop. He purchased several cars and employed men to drive them. Competition became keen and he was forced to dispense with some or the drivers. He owed his brother £2OO and his son £74. Answering questions Dwen denied that the business was loosely conducted. He admitted giving credit to natives and others for car hire. Assignee: Is it a fact that you were in the habit of holding wild parties in your saloon? Dwen: Well, not wild. Friends used to come in occasionally, perhaps with half a bottle of whisky. They would finish this and then go. Mr. W. J. King, for bankrupt, said his client’s first concern throughout had been for his creditors. There was no question whatever about Dwen's honesty. The meeting confirmed the action of the assignee in disposing of bankrupt's stock. Bankrupt was asked to provide a list of receipts and expenditure for the past 12 months.