In Bankruptcy. Re HOWES, Rushden.

Under a Deed of Assignment. Re ADDIS and WILSON, Finedon.

RUSHDEN
TO BOOT AND SHOE MANUFACTURERS
AND OTHERS

MESSRS. COULBECK & PALMER will Sell by Auction, at an early date: The Whole of the STOCK-IN-TRADE—boots and shoes, cut stuff, plant, machinery, presses, knives, lasts, etc., etc., re the above Estates (removed for convenience of sale). Full particulars in due course.

Bankruptcy Court - Walter Howes, 8 Fitzwilliam-street, Rushden, boot and shoe manufacturer. —The unsecured liabilities were estimated at £471 9s. 1d. and the assets at £151 1s. 10d.

BANKRUPTCY— From the balance-sheet issued the official receiver, in the bankruptcy of Mr. Walter Howes, it appears that the liabilities to fully secured creditors is £275, and to unsecured creditors £471 9s. 1d. The assets are estimated at £151 1s. 10d., showing a deficiency for the unsecured creditors of £320 1s. 3d. The bankrupt attributes his insolvency to bad trade, returns, and want of capital to enable him to buy at good markets. The Official Receiver says:—The bankrupt, who is 38 years of age, states that he commenced business on his own account on October 1st, 1901, with a capital of £125, which he obtained by raising a mortgage on his freehold property, 8, Fitzwilliam-street for four years prior to April, 1901, he was in partnership with a Mr. John Ellard, of Rushden, boot and shoe manufacturer, trading as Ellard and Howes. The bankrupt put in £100 into the business, and received £25 on the dissolution, Mr. Ellard taking over the whole of the liabilities and assets. The books of account kept by the bankrupt are cash book and debit and credit ledgers. No balance-sheets or stock sheets have been prepared. The furniture is claimed by the bankrupt's wife.

According to the statement of affairs there are six creditors whose debts exceed £10, and out of the total unsecured liabilities £50 is for money borrowed, the balance being ordinary trade debts. The fully and partly secured creditors hold as security mortgages on the bankrupt's freehold premises, 8, Fitzwilliam-street, Rushden. The deficiency account shows a net loss arising from carrying on business from the 1st day of October, 1901, to date of receiving order, after deducting from profits the usual trade expenses, including £27 10s. loss on heeling machine hired by debtor, £90 11s. 4d.; bad debts, £82 0s. 7d.; expenses incurred since the 1st day of October, 1901, other than usual trade expenses, viz., household expenses of self, wife, and seven children, £79 4s.; depreciation in value of stock, £98 17s. 4d.; legal expenses, £15; accommodation bill, £29 14s.; total amount accounted for, £395 7s. 3d.