TO PAY £2 WEEKLY

Sun (Auckland), Volume III, Issue 627, 2 April 1929, Page 10

TO PAY £2 WEEKLY

SALESMAN PREPARED TO LESSEN DEBTS SURPLUS IN FINANCES His intention to pay £2 a week toward his debts was stated by Robert John Hibberd, bankrupt, motor-car salesman, of Alount Eden Road, at a meeting of creditors this morning. Apart from this, the book debts listed in Hibberd’s assets alone revealed a bigger figure than the money he owed. Hibberd’s total debts were £l5O 10s 9d, and his assets were made up of £237 15s lOd for book debts, and £IOO for furniture. There was a nominal surplus of £lB7 15s Id. Hibberd's affairs were left in the hands of Air. G. N. Morris, the official assignee. Bankrupt was induced to form a company in Taumarunui in 1925, but he knew nothing about book-keeping and left his affairs to accountants. The company went into liquidation two years later, but he was not able to learn anything from the liquidator. Bankrupt did well in a garage business in Papakura, which he began in 1928 on money borrowed from his wife. Taumarunui creditors made his affairs difficult because of the pressure they were continually bringing to bear.