IN BANKRUPTCY.

Taranaki Daily News, Volume LV, Issue 139, 30 October 1912, Page 7

IN BANKRUPTCY.

A NEW PLYMOUTH J-IIUITERER. A meeting of creditors in i!ie bankrupt estate of Junius Murphy, liu, L erer, New Plymouth, was convened by the deputy Official Assignee yesterday afternoon, but lapsed ior want of a quorum, only one creditor attending. The JJ.O.A. (Mr J. S. S. Medley) .presided, and examined the bankrupt. Mr A. R. Standish appeared on luurphy's behalf. The bankrupt's statement showed debts owing to unsecured creditors to the amount, of £155 10s o'd, and assets amounting to £OO 2s 3d. This left a deficiency of £B9 8s 3d. The assets comprised stock-in-trade £ls 14s 3d, . book debts estimated to produce £l2, two shares in a local building society valued at £3B 8s Bd. The principal creditors were: Hawke's Bay Fruitgrowers' Co., Griffins and Sons (Nelson), J. Avery (New Plymouth), Richard Cock (Now Plymouth), Pople and Creamer (Auckland) . Bankrupt put in the following written statement:— - '], have been in business in New Plymouth, as a fruiterer for a number of years, and up to about two vears ago I did a fairly good business, and was j in a fairly sound financial position. Dur--1 ing the last two years business has gradually gone from bad to iworse, and lately I have been doing next to nothing. I attribute the falling-ofl' of my .business partly to the general slackness of trade and the -tightness of money, and also to the fact that two opposition shops have started near me, and as the competition troughout the town has become much keener, the profits from the sale of fruit have been greatly reduced. As I could see no chance of business improving in the near future, and as I was being pressed by some of my creditors, one of | whom had issued a distress warrant, I J decided that, in the interests of my other I creditors, the best thing I could do was to file."

Examined by the D.0.A., bankrupt said that two years ago he was just about holding his own. If he had sold up he could just about have paid 20s in the £ His takings per week amounted to £lO or £l2. In March or April last he sold two sections at Stratford for £llO. After paying off a mortgage and other expenses, he got about £2O odd out of the deal. The meeting then adjourned.