DETERMINED TO PAY

Sun (Auckland), Volume II, Issue 431, 13 August 1928, Page 1

DETERMINED TO PAY

BANKRUPT TOBACCONIST ASSURANCE TO CREDITORS **l owe this money and I am going to pay it,” Thomas J. Harris, bankrupt tobacconist, of Edendale, told two creditors’ representatives this morning. Bankrupt, who said he had little employment for a year past, states that he was expecting work in September at £4 2s 6d a week. “That’s a promise, of course,” admitted Mr. G. N. Morris, Official Assignee, “but I don’t see how it’s going to be fulfilled on that amount.” Bankrupt: Yes, it’s a promise, and it will be carried out. No assets could be produced by Harris, and his liabilities, all unsecured, were £BO 15s Bd. A fire placed him out of a profitable business in September last year. At that time he owed about £6OO, but his stock was worth from £1,200 to £1,300. It was insured for £7OO, and with this he paid his creditors, leaving £6O to carry on with. Mr. Morris: You paid some of your creditors fully, but left others, didn’t you? , Bankrupt: Yes. Mr. Morris: And you can see now that that was not fair? Bankrupt: I do. I can honestly see my error, but the others will be paid. The two creditors’ representatives said that they had the impression that they were deliberately overlooked. “It was not a fair distribution,” summed up Mr. Morris. “Had the money been properly divided, it would not have been necessary to have called a meeting.” The meeting was adjourned.