HUGE DEFICIENCY

Taranaki Central Press, Volume IV, Issue 455, 24 June 1937, Page 2

HUGE DEFICIENCY

Melbourne Bankruptcy Piess Association —Copyright. Melbourne, June 23. A bankruptcy petition lodged on behalf of Ward and Company, sharebrokers, Melbourne, to-day set down the liabilities 'at £79,861 and the assets £2394, leaving a deficiency of £77,467. The petition was filed by Clarence Royal Curwen and Alfred Keitb Ward, two of the . firm’s three partners, who state in an affidavit that the firm is now in fact bankrupt, the cause being excessive drawings and losses in carrying on business. The statement shows £31,106 is owing to the Bank of Australasia, which holds against the debt securities of an estimated value of £33,000 pounds. The principal unsecured creditors are J. A. and M. (’. Erskine £37.956, and Edwin Ward £l4, 454. There is a long list of smaller creditors. The assets comprise office furniture £5OO and an estimated surplus over the bank’s security of £1894.