BANKRUPTCY DEFINED.

Temuka Leader, Issue 1029, 11 November 1882, Page 3

BANKRUPTCY DEFINED.

While one of the Bosanic delegates who waited upon the Emperor Franz Josef at the Hofburg some time ago, was staying at Vienna, the owner of the hotel in which he lodged (says the Daily Telegraph) became a bankrupt. Hearing of his host’s mishap, the worthy Bey sought an explanation of the term ‘bankruptcy,’ and having thoroughly mastered its meaning proceeded, on his return to his native village, to impart his information to sundry of the faithful, his dear relatives, and close family connections.’ ‘ This, 0 my brothers, ” he observed, “ is the true and proper way to become a bankrupt. First, you must hire a shop. Then you write to rich merchants in far distant cities, inviting them to forward their wares to you for sale, and pledging yourself to pay for them within a few months. As soon as yon shall have received sufficient merchandise you must sell it for cash or hide it carefully away Then you must go to the judge and say to him * Beloved of Allah ! I am a bankrupt, here are five pounds. They are all I have in the world,’ The judge will keep four of the five pounds and proclaim your bankruptcy ; the other pound will be divided amongst those who supplied you with goods. Later on you will remove to another town, and begin this good and easy business over again. Thus you may by the passing bitterness of insolvency be converted into the abiding sweetness of a comfortable independence. Be chesm ! Upon my head be it !’’