BANKRUPT BOOTMAKER.

Taranaki Daily News, 22 December 1922, Page 8

BANKRUPT BOOTMAKER.

LONG RUN OF BAD LUCK. W. A. TUBBY’S ESTATE. A rather extraordinary story of the bad-luck that had been following him for the past two and a half years was recounted at New Plymouth yesterday by William Arthur Tubby, bootmaker of Stratford, who was recently ad. indicated a bankrupt. No creditors put in an appearance at the meeting, which therefore lapsed and bankrupt was thereupon examined by the Deputy Official Assignee (Mr. J. S. «. Medlev). Bankrupt’s statement of assets and liabilities showed debts owing to unsecured creditors amounting to £227/2/. whilst, on the other side, were shown stock in trade £G4, half-share of Tubby and Co.. (Frank Worthington and other partner) £3O, half-share of book debts £9, furniture £25, leaving a deficiency of £163/2/-. The list of unsecured creditors was shown as follows:—W. Rogers (house rent) £23; J. Avery Ltd.. New Plymouth £6/16/-; James and Co., Stratford £2O; F. Jagger and Co., Auckland £22: Nash and Co., Wellington £53: G. Coull, Wanganui £]s/6/-: Federal Boot Co.. Wellington £2O: Bryce-Windle imp Blythe, Auckland £23; Riddle. Stratford £l3: G. Perritt, Auckland £27; Newton King £4. It was explained I that F. Worthington had been a part- ! ner from March 16, 1922. He paid £ 100 I in to the Union Rank, Stratford, for S half-share. Mr. Tyrer. of Stratford. ! drew up the partnership deed. 5 Bankrupt further explained that there I were £l6 worth of book-debts owing | to him, which Mr. Tyrer had been unS able to collect.

EXPENSIVE TEAM OF HGRSES. “I wish to state fairly to you that I owe my present position. to ill-luck following me for the last two and a half years,” explained bankrupt in his written statement. “About that time I took over a team of horses for wood-cutting, paying £l2O for them with interest. Within one month one of them was oadly injured, leaving it useless for five months. Each and all of them met with trouble of a serious kind. Feeding these animals, combined with continual wet weather, left me practically with nothing, and I decided to start boot-repair-ing (my trade). For a time I did well, and received a fair share of patronage. I then took on making boots to measure, but in these I lost heavily, paying high wages and leaving too long credit. Then accident and sickness occurred in my family, together with 35/- house rent. 1 am now in poor health, and feel I cannot keep up with the struggle. I greatly regret having to take this action, but it has been forced upon me by a few of my creditors,” “STARTED TO GO BACK.” “I am a married man with eightchildren,” said bankrupt, under examination. The eldest boy. aged. 19, was earning his own jiving, whilst two boys were partly doing so. He was renting a house at 35/- a week while the, rent for the shop had been Cl week. He 'started his boot-repairing shop in November 1'921, doing fairly well at first until he started employing labour when he started to go hack very fast. Finding himself in trouble he took Mr. Worthington as a. “sleeping partner” about six months ago. getting £lOO. nfwh’eh l £6O was put into new stock and machj iuery. Mr. Worthington was to do no work and get half-profits, bankrupt to have £5 a week and half-profits. About three months ago bankrupt told Worthington he was in difficulties, and the latter put another £4O into the business. Bankrupt could have carried on I but, owing to too much worry, be fell ill ' and had only been out of bed a fort- ; night. During that time the shop was closed, and there was no business coming in. Three summons bad been issued against him and this caused him to file. “I have had bad-luck all the way through,’’ continued bankrupt. “One son was smashed up by a car and he was onlv better a month when another son had to go to the hospital with dropsy. Between the debts and the boy’s accidents I went down myself with illness.” Bankrupt had sold all his good furniture on starting business in order to raise money. The bailiff had been through, and said there was nothing to take. Half his stock and half the book-debts belonged to Mr. Worthington.

DETERMINED TO PAY. Giving an example of his bad-hick, bankrupt said he had got a consignment of leather from Auckland, and he did not know that it was no good till he had. used it all and. in order to keep his customers, he had repaired all the boots again for nothing. He had lost £25 over that. The colonial leather, he asserted, was no good with the exception, of a- brand of leather made at a New Plymouth tannery. This leather was the best on the market. “If. I am allowed to continue with. I the shop I can pull through quite eas- ! : 'V.” declared bankrupt. He had no doubt but that he could make a profit and pay all his creditors. After a <onth or so be could easily guarantee nay off £2 a month. The D.O.A. said he did not see why »ankrupt should not continue in his business, and if he was doing all right. would not be necessary to shut up the i shop unless the creditors objected. I. “I am determined to pay all my debts, asserted bankrupt, and the proceedings terminated. .