IN BANKRUPTCY

Wairarapa Age, Volume XXV, Issue 10713, 17 February 1913, Page 3

IN BANKRUPTCY

ESTATE OF HUBBARD BROS. AND CO. The following statement has beer, liled in the bankruptcy estate oi Arthur Thomas Hubbard and Ernest Thomas Hubbard, trading as Hub bam Bros, and Co., bootmakers; Liabilities, £450 2s lOtl, assets £502 17s lid, surplus £lO6 14s Id. The princpal assets are stock-in trade £451 IBs, and book debts £7O. .Unsecured creditors :—Wellington : George Doherty'and Co., £lO 3s 3d; Sargood, Sou and Ewen, £25 10s 4d; \V. Belcher, £O7 10s; W. H. Nosh £94; Gaby, French' and Carrick £7 ; J. Morris £24 7s 4d; Equity Boot Co., £2O 8s sd. Christclrarch: Frostck, £7O 14s. Auckland; E. E. Leaning, £lO 4s Od. Palmerston North: H. L. ■ Young, Ltd., £1 ]' lOd. Wanganui: H. S. ' Jones, £2 15s; A. D. Willis £2 10s. Masterton: Robinson and Hand-Newton, £9 7s; G. Hyde and Co., £3 2 S 6d; T. McOraek'en, £lO Is; W.F.C.A., £2 lis; Levin, and Co.. £3 12s; Wairarapa Age Co., Ltd., £8; Wairarapa Daily Times, £l.O 8s 6d; Masterton Printing Co.. Ltd., £3 2s; Masterton Farmers' Implement Co., £55 16s ss; Beale and Co., £1 3.5. Bankrupts, in their statement, say they started business in premises in Kuripuni in 1909 with a capital of £2S, which was borrowed and repaid by instalments. In May, 1912, they entered! into partnership with Mr James Bulpit, who put £3OO in cash into the business. The firm took premises in Queen street at a rental of £2 per week, afterwards inereas>ed to £2 10s. A second-hand gas engine purchased was useless and resulted in a loss of £32 10s. The turnover of the business proved exceedingly small. Bankrupts attribute their position to the small turnover, insufficient capital and loss of machinery. The first meeting of creditors will be held on Wednesday next, in Wellington.