IN BANKRUPTCY.

Gisborne Times, Volume XXVII, Issue 2642, 26 October 1909, Page 7

IN BANKRUPTCY.

ESTATE OF ERNEST VERNON SWEET. The first meeting of creditors in the estate of Ernest Vernon Sweet, commercial traveller, was convened, for the office of the Official Assignee yesterday afternoon. There were no creditors present, there being only one in Gisborne. The statement of the bankrupt show-: 'ed his liabilities as £7O 9s. The bankrupt stated that he had no assets, with the exception of under £2O worth of personal effects. He had sold his furniture about two years ago, and with the proceeds had paid off debts as far as the money went. He thought he had only three old creditors left, the rest having been incurred- since. He had had his effects burnt twice, only having half liis stock insured once, and liad paid creditors with the insurance. He was in employment at the present time, working on commission, as had been his habit for the past six years. His’earnings had been on an average about £lO a week, but heavy expenses had used more than half of this, and liis average profit* had been about £4 a week. He proposed to pay his creditors in full, and agreed to pay as much as he could spare monthly into the Assignee’s office for -this purpose. ... * : . ,