CRIMINAL BANKRUPTCY.

Taranaki Daily News, Volume L, Issue 61, 28 November 1907, Page 2

CRIMINAL BANKRUPTCY.

■» Per jfress jissucudtiou. Wellington, Last Night. At the Supreme Court to-day, W inlaw George Tusuu, lor many years in business in Wellington as a painter and paperhangcr, who was adjudged bankrupt last -May, was charged wan having miii'd lo keep proper books and witn navwg contracted debts withoyt reasonable expectation ol' being abie to pay tucni. The Ollieial Assignee doposeu that he was unable to uncertain accused's linancial position from uie books supplied to him. Henry Ivember, accountant and auditor, deposed that accuseds books were not adequate. No account had been made out snowing expenses and receipts, There was no stock or drawing account, no expense account, and it was an impossibility lor the position to be shown by the books, 'lucre was a bill book, but no posting was done. A person could tell what lie owed by his bills, even without a ledger, Witness found a deficit of £1177 on Ist January, 15)04; on 31st October, 1005, the deticit was £2114; on Ist January, 11)00, the deficit was £208); and at the time of the bankruptcy the deficit was between £41)00 and £SOOO. Accused, in a statement to the Court, denied any intent to defraud. He had heavy losses on contracts, but bad always believed he could overcome his financial troubles. His losses were partly caused by having to pay lis a&d 12s per day to workers not worth more than 5s Od or os. Whatever the outcome of. these proceedings, lie would not rest until he had paid twenty shillings in the pound. The jury found accused guilty, but expressed the opinion that he had no intention to defraud. Sentence was deferred pending decision by the Court of Appeal on certain law points. Tustin was allowed bail, himself in £SO and one surety of £SO.