CURIOUS STATE OF AFFAIRS

Taranaki Daily News, 25 March 1918, Page 6

CURIOUS STATE OF AFFAIRS

HOW A MAN FELL IN. (From Our Own Correspondent). Wellington, March 21. A curious state of ali'airs was disclosed this morning before the Official Assignee, who had called a meeting of the creditors of 11. W. Bear, flax-cutter, of Levin. It appeared that in 1010 Bear put £2OO into a cycle agency business run by J. Robertson at Levin and Foxton. He signed a deed of partnership giving him a third interest in the business, but he took no share at all in the management and knew nothing of details. Later ho provided other sums amounting to £4a. Then Robertson informed him that the business was in a bad way and that it was being transferred to F. C. Remington, of Levin, and O. C. Kelly, of Foxton, who were going to keep Robertson as manager and give him a chance to restore the business. Bankrupt assented unwillingly. Later Robertson was dismissed and Bear then found that he was liable for various sums to creditors who had secured judgments against Robertson. Bear had no assets, all his money having been put into the business, and he did not know what his liabilities as partner amounted to. The Assignee adjourned the proceedings in order to communicate with the creditors bankrupt stating that he thought he could pay £25 in 12 months.