PLUMBER’S FAILURE
PARNELL VENTURE Unable to get his money from customers, Richard Angus Fletcher, of Parnell, filed in bankruptcy. He was examined before the official assignee this morning. The financial statement showed: Unsecured creditors, £l5B 19s 6d; secured, £46; estimated value of securities, £100; surplus to contra, £54; stock, etc., £3O 11s 6d; book debts, £213 2s; cash, 4s 3d; estimated surplus allowing for book debts, £75 16s 3d. Bankrupt’s statement showed that he started as a plumber and gas-fitter, in Parnell in 1913, with £2OO capital, of which £l5O was borrowed. He did good business until he was unable to get his money in, and bankruptcy was his only option. Examined bankrupt said he had not kept books during recent periods as he could not afford their price. He said he could not supply a statement of his dealings for the past 18 months. He had been taking £ 4 a week out of the business. He said he had a family of nine, of whom seven were at home, only one contributing to expenses. It was pointed out that Fletcher had done good business till six months ago. The business was left in the hands of the assignee.
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Bibliographic details
Sun (Auckland), Volume II, Issue 449, 3 September 1928, Page 16
Word Count
199PLUMBER’S FAILURE Sun (Auckland), Volume II, Issue 449, 3 September 1928, Page 16
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