A meeting of creditors of Mr. Geo. J. J. Denton, shoe manufacturer, of Wollaston, was held in the offices of Mr F. Roberts, F.S.A.A., incorporated accountant and auditor, Arcade Chambers, Northampton, on Monday afternoon.

The chair was taken by Mr. Palmer, and the debtor's solicitor, Mr. J. C. Parker, said that Mr. Denton took over the business from his father about 11 years ago, and at that time it was a very small business, but had since been enlarged. The amount claimed by unsecured creditors was £4,168 12s.; creditors fully secured, £383 6s., but the value of the securities was £433 6s., the surplus to contra being £50. The largest creditors were the British United Shoe Machinery Co., who claimed for £1,100. The stock-in-trade was estimated to produce £900; book debts £15; cash in hand £197 14s. 9d.; machinery and plant £150; surplus for securities in hand of fully secured creditors £50; total assets £1,312 14s. 9d., less creditors for rent, etc., as per contra, the net assets being £1,306 9s. 1d., making a deficiency of £2,862 2s. 11d. As the debtor had no friends, and could not produce further assets, it was for the meeting to decide whether a deed of assignment be passed, or whether a petition for bankruptcy be filed.

Most of the creditors were for the assignment, to save further waste of money, but others said the firms whom they represented were determined to put the debtor in bankruptcy.

It was decided to hold over the assignment until Saturday next to allow those creditors time to consider whether they should assent to the assignment, and if they did not agree then Mr. Parker would file a petition for bankruptcy. A committee was formed consisting of Mr. H. G. Smith, Kettering, a representative of Mr. Porteous (Edinburgh), Mr. Sparrow (Leicester), Mr. A. O. Palmer, and Mr. Green (Wollaston).