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Mr. Thomas Arthur Knight, butcher, of 89, High-street South, Rushden, has filed his petition in bankruptcy, and has been adjudged a bankrupt. The first meeting of creditors will be held at the Official Receiver’s offices, Northampton, on Monday, July 13, and the public examination is fixed for July 22, at the County Hall, Northampton.
A statement of affairs shows gross liabilities £564/14/7, of which £555/17/4 is expected to rank for dividend. The assets are estimated to produce £55/19/10, leaving a deficiency of £499/17/6.
as stated by the bankrupt are:- “Competition in business, slackness of trade, and I have not made enough profit on my turnover to pay my expenses.”
The bankrupt accounts for his deficiency as follows :-
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£
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s
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d
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| Excess of liabilities over assets on the 29th June, 1907 |
338
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8
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9
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Net loss arising from carrying on business from the 29th June, 1907, to the date of Receiving Order
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75
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0
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0
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| Bad debts |
8
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8
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9
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Household expenses of self, wife, and five children Since 29th June, 1907
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78
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0
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0
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499
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17
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6
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The Official Receiver’s Observations are :-
The bankrupt (age 39) commenced business at 89, High-street South, Rushden, about fifteen years ago, with a free capital of between £40 and £50 which he had saved as a journeymen butcher. The premises formerly belonged to bankrupt’s father, and now form part of his trust estate, and are let to the bankrupt at a rent of 8s. per week by the trustees.
The books of account kept and produced are day book and debit ledger.
According to the statement of affairs the debtor’s bankers are creditors for £190/14/11 current account, for which they hold collateral security; the debtor’s brother, £91/9/7 for goods sold, and £60, three years’ rent due in respect of slaughter house; and the remaining unsecured liabilities are for goods purchased.
The greater part of the furniture at 89, High-street South, is claimed by the bankrupt’s wife.
The bankrupt states that he first became aware of his insolvency about two years ago, and that he has contracted debt since then which are now owing, hoping to be able to meet them by improved trade, but business, he says, has been very bad in Rushden lately.
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