ISAACS' BANKRUPT ESTATE.
(jjy telegraph.—own correspondent.) Auckland, Wednesday. Mr A. E. Isaacs' statement in bankruptcy stated •' that stock lias been taken since the bankruptcy, and shows value at cost price of £14,503. AVe have handed over to the Official Assignee bills receivable, all of which we believe good, amounting to £1,177 and £155 in cash. Our book debts amount to £3.149, estimated to produce £2,500. Our other properties unaffected by mortgage may realise £250. Adding to these surplus from securities in hands of secured creditors estimated at £810 makes the total assets £9400 against a total unsecured liability of £10,125. Arrangements were made on September 17th, 1888, by which we agreed to give up to the bank as additional security bond warrants representing goods to an estimated value of £3,000. I then assigned my life policies, and Mrs Isaacs gave to the bank as further security her promissory note for £1,500. I attribute bankruptcy to depression in trade, falling values in property, and failure to receive interest on our Eilerslie mortgage necessitating a large annual debit against our bank PCcount for interest on overdraft.
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Waikato Times, Volume XXXII, Issue 2577, 17 January 1889, Page 2
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184ISAACS' BANKRUPT ESTATE. Waikato Times, Volume XXXII, Issue 2577, 17 January 1889, Page 2
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