IN BANKRUPTCY.

Taranaki Daily News, Volume LVI, Issue 178, 27 January 1914, Page 7

IN BANKRUPTCY.

.i pi.L'iiiii'ijr.s Tironjus. • Ten creditors were present at the bankruptcy meeting of Thomas William Francis, of .New Plymouth, plumber, bold at the office of tbe Deputy Official Assignee (Mr .). S. S. Medley) yesterday. Mr P. E. Wilson appeared for the bankrupt, and Messrs. U. Grey and A. R. StaiulMi represented creditors not present.

BANKRUPT'S STATEMENT. Tim written statement of the bankrupt disclosed that he had been in busi- . ness in New Plymouth for 12 years, and until three years ago he was solvent, lie then met with n serious accident, sustaining a fractured knee-cap. lie was laid up lor IS month*, during which time his business was looked after by his employees, lie had never properly | recovered the. u=c of his leg, and was therefore very seriously handicapped in his work. Sincn his return to work, there had constantly been illness in his family, causing him great expe.ise. He had been compelled to lile his p>'t;tic:i in bankruptcy, on account of the actioii of two judgment creditors, v.'ho Lao, obtained execution warrants agaric, him. lie could make, no offer to his The statement of assets anil liabi'.'ties showed debts duo to unsecr creditors, £540 13s lid; „tock-in-lrade worth £3B jjs; book dcols worth fIOO. and furniture worth £OO, leaving a deficiency of £3)2 Ss lid. On oath, the bankrupt corroborate'.', his written statement. To Mr Mcdlev. he said that his accident had cost him about £37, He did not know what his average takings were per month. He first began to get behind in his finances after he came out of the hospital. \U was not insured. Family illness had cost him over £10(1.

Questioned by creditors, lie said that had never drawn up a bahu-.ce-shcet, but when he met with his accident In owed nothing beyond what he could nay ,lle had drawn from the busir.es o:ii living expenses. He had had to drvw all his money out of the bank to pay expenses of illnesses. lie had drawn £1 per week sick pay from his lodge, but had not heen attended by the lodge doctor. ' '

It was decided that the disposal of the stock-in-trade be left to the Deputy Official Assignee. Creditors expressed sympathy with the bankrupt, and a resolution was moved to-the effect that he be allowed to keep all his furniture, except his piano. Messrs. Ewing andlioou objected thai, bankrupt had not actet! fairly, in that he must have known some time' before he filed that he was goinc back, yet. he had not told his ercdito-.-i "his real position. Aflcr a short discussion, the motion was carried and i'.nmeetiii'.' concluded.