LOCAL BANKRUPTCIES.

Waipukurau Press, Volume XXII, Issue 20, 16 February 1927, Page 5

LOCAL BANKRUPTCIES.

MEETINGS OF CREDITORS.

A meeting of the creditors in the bankrupt estate of J. E. Hounsell, music dealer, was held in the Courthouse this morning, Mr B. Bishop, Acting-Deputy-Official Assignee, presiding.

The bankrupt was represented by Mr I. W. N. Mackie.

Creditors represented were: —The American Fono Coy., Peerless Sales Coy., T. Nicholson, D. B. Kent, D. E. Miller, and Waipukurau. Press Coy., Ltd. . .. _ ' ■

Bankrupt’s personal statement was read, as previously published, and showed liabilities £3Bl 6/9, assets £326 12/6, with a deficiency of £54 14/3.

In answer to questions, bankrupt stated that his weekly takings had been small, those for December only averaging £l5. He had hoped for a good Christmas trade, but this had not eventuated. He had only drawn £1 5/per week from the business, and latterly less than that. He had practically to live on his music tuition fees. Mr I. W. N. Mackie was appointed to collect. outstanding accounts. Mr T. C. Ward (Peerless Sales Coy.) moved that the stock be.disposed of by auction, 'to be offered first as a going concern, and failing that, in lots to suit purchasers. The date of the sale was fixed at Tuesday next, at 3-p.m., the sale to be conducted by the Waipukurau Auctioneering Coy. The lease of the shop is to be disclaimed as from Sunday next, February 20th.

The meeting of creditors called for this morning in connection with the bankruptcy of D. H. Cameron, lapsed for want of a quorum. Only one creditor was represented, being the Public Trustee, on behalf of the estate of A. Cochrane.