BANKRUPT SHOPKEEPER

Sun (Auckland), Volume II, Issue 475, 3 October 1928, Page 13

BANKRUPT SHOPKEEPER

EXPECTED MONEY FROM HOME CREDITOR TIRED OF SIGHT OF HIM (From Our Own Correspondent) HAMILTON, To-day. With doubtful financial assistance from relatives in England being the only prospect of settling with his creditors, Arthur Bull, household and toilet goods dealer, Hamilton, was examined in bankruptcy to-day by the official assignee, Mr. J. H. Robertson. Only one creditor was present. Bankrupt’s schedule showed his total debts to be £Bll 4s Bd, owing .unsecured creditors, his assets being £ 30, realisation on stock-in-trade, leaving a deficiency of £7Bl 4s Bd. Over £6OO was owing to the maintenance officer at Christchurch for children in a home.

In his statement bankrupt said he was teaching music and canvassing before taking a shop in Hamilton toward the middle of last May. Business in Victoria Street was very small, but, with canvassing work in the morning, he managed to pay his way. Examined by the assignee, bankrupt admitted living on his creditors and failing to pay cash for goods. He intended using £IOO from a sister in England to assist him, but reecived no reply to a cable sent to her. # He strenuously denied telling a creditor he was sure of getting the money. The creditor in question said he was “sick and tired of the sight of bankrupt.”

The assignee said it was obvious bankrupt had made misleading statements. The meeting was adjourned to enable bankrupt to receive assistance from England, and it was decided to sell the stock at auction.