IN BANKRUPTCY.

Gisborne Times, Volume XXVIII, Issue 2742, 22 February 1910, Page 2

IN BANKRUPTCY.

ESTATE OF ELIZABETH JOWEKS.

The following particulars have been filed with the beputy-Onicial Assignee, Mr. J. Coleman, by Elizabeth Jowers, confectioner, who was recently adjudged bankrupt: — Unsecured creditors, £432 5s 2d; seemed creditors, £2O: estimated value of securities, £-10 ; stock in trade cstim. atocL at £270; book debts £4-3 (estimated to produce £40); machinery and plant £320; cash in hand, £44 os 9d; lurniture £lO, surplus from securities £2O. Total as.ets £734 ,5s 2d. Surplus £272 Os 7d.

The unsecured creditors are as fol-lows--Gisborne creditors: S. IVcotton 12s Id, E. W. Burton £3 17s Id, Common, -Shelton and Co. £l3 Is 7d, Gisborne Sheepfarmers’ F.M. Co. l4s Gd. E. Hall and Sons £3 8s 9d, Gisborne Ga.s Company £3 9s 9d, ‘•Times” Co. £2O 11s 3d. Borough Council £4O 16s l()d, G. Smith £l3 5s lid, H. Martin £l2 7s Sd, L. 1). Nathan 9s 6d, J. Town ley £l2 5s sd, IV. D. Bell £1 18s Sd, P.B. Co-operative Supply Co. 4s Gd, Murray. Roberts and Co. £4 9s Gd, Scholium Brothers £1 19s 4d, Smith Bros. £l4 Is 71. Dr. Scott £5 ss, “P.B. Herald” Co. £l7, E. Lowndes 4 9s 3d, Niven end Co. £l. 14s. Auckland creditors: Brown Bros, and Geddis £29 0s 7d. Donald and Edcnborough 17s Sd, R. H. Hopkins x £3 18s. IV'aitemata Fruitgrowers £4 18s 4d. Tanfiold, Potter and Co. £1 13s lOd. Wellington creditors: C. M. Banks and Co. £6 13s od, Cadbury Bros. £9O 7s. Nelson: Griffin and Sons £5 4s 9d. Christchurch : Whiteman and Co. £l2 lGs su. Dunedin : Hallenstein Bros. £97 13s 4d, Hudson and Co. £3B 2s 3d. There is one secured creditor, John Joseph Ro.ssbotham, who holds security estimated at £4O for a debt of £2O. Bankrupt in her sworn statement says:—“l commenced business in Gisborne, on. October 25, 1903, with a not capital of about £OO. The present premises were not then built, but I was on the same site. From the date of commencement up to February. 1908, when T had to shift higher up Gladstone Road, pending the building of the present premises, my business was a good one; the balance each year showed a. distinct improvement on. the previous one. The expense of removal was considerable, and trade fell off to such an extent that there was not a living in the business. /I was thereabout eight months, and I ioil behind financially very badly. I entered into possession of the new premises in October, 1908. My balance-sheet shows my net capital then at about £431 Bs. Business was very good during the following summer and up till the end of February, 1909, so good that the rent of £6 17s Gd a week and rates over £4O per annum did not seem to be out of the way. On March 31st. 1909, I took stock and I found I was in a very satisfactory position. I ordered extensively in the expectation that the. good times wouiu continue, but from March, 1909, to tnc present time trade has been bad. and the roceints of the business have fallen off .seriously. As au illustration or this, the cash takings from November 1,1909, to February 5, 1910, show a

decrease of £214 19s, as compared with the corresponding period twelve months earlier. I suffered considerable loss through the premises being Hooded several occasions by heavy rain. . . I complained of these matters to my landlords, but could not get them to recognise any liability for the damage, or to make any allowance for my losses. When I found my business getting behind, 1 made efforts to cut down expenses. 4 tried unsuccessfully to ger ,my rent reduced. I have been trying recently to arrange with my creditors to give me time, and hoped by sub-lot-ting part of the 'premises to an approved tenant to pull through, as I do not think I am really insolvent. Most of my main creditors were willing to give me time, on condition that no one got preference, but a Dunedin creditor put a distress warrant into force last Friday, February lltli, and in consequence I was forced to file. I attribute my bankruptcy to the poor state of business during the last twelve months. . . When trade fell off the rent and rates and other necessary outgoings were too heavy for the- business.”