CREDITORS SYMPATHETIC
EANKRUPT TIMBER MERCHANT From Oxtr Own Correspondent HAMILTON, Today. The depressed state of the timber industry and his inability to dispose of two heavily-mortgaged properties were cited by Frederick William Chadwick, timber merchant, Morrinsvilie, as the reasons for his insolvency, at a meeting of creditors today. The total debts were £770 and assets £6Bl, leaving a deficiency ox £99. Bankrupt stated that he had been in the industry at Morrinsville for 14 years, firstly as manager of the Bartholomew Timber Co., and since 1920 on his own account. The business was never profitable, but returned him a living till 1028, since when he had slowly failed. Unsuccessful efforts to sell properties at Morrinsville forced him to file. Air. Morton, for the bankrupt, withdrew a claim of £260 on the estate made by Mrs. Chadwick, bankrupt'* wife. Creditors agreed that the bankruptcy was due to misfortune, and that bankrupt should be allowed to retain his furniture, also that his discharge be facilitated.
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https://paperspast.natlib.govt.nz/newspapers/SUNAK19300918.2.94
Bibliographic details
Sun (Auckland), Volume IV, Issue 1080, 18 September 1930, Page 9
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163CREDITORS SYMPATHETIC Sun (Auckland), Volume IV, Issue 1080, 18 September 1930, Page 9
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