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Rushden Echo, 15th November 1912
The Affairs of Mr Amos Cave
Creditors’ Meeting – Assignment to go Through
[final paragraph of a longer article]
A Going Concern
The business, said Mr. Cattell, was begun about February 1910, Mr. Cave having just carried on a waterproof leather business. The first balance-sheet, in April 1911, showed a loss of £228/13/2, and drawings £320; in that of November 1911, there was a profit of £241/6/8, and the drawings were £150/10/6; in that of Aug 1912, there was a loss of £386/4/10, and the drawings were £227/18/10. This totalled to a loss of £1,162, or less profit £1,071, in the period. In August 1912, the capital stood at £510, and between August 3 and Nov. 2 of this year there was a loss on trading of £284/0/3, or a total loss in that period of £584/5/10. Mr. Cattell read also a deficiency account, which more that balanced the deficiency. The turnover from August 3 to Nov 2 was £1,989, and for the previous ten months £9,580.
Several questions having been asked, Mr. James Jackson, who appeared for the debtor, said he could not advise an offer of more than 10/0.
It was decided that if Mr. Spong and Mr. J. E. Cave would waive their claims a deed of assignment to Mr. W. C. Cattell as trustee should be confirmed and the estate realised; but if they would not do so a petition should be filed. Messrs. C. R. Tozer, A. C. Palmer (for Messrs. Barrow), G. H. Frecknall, A. E. Rodhouse, and H. G. Smith were elected as the Committee.
The two family creditors have now agreed to waive their claims, and the deed of assignment to Mr. Cattell will be acted upon.
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