Florist’s £90 profit over year; but £75 expenses

1913 Police Court

At the Scarborough Bankruptcy Court today, before the Registrar (Mr F Bedwell), Ralph Davison, florist, 30, Scalby Road, appeared for examination. The gross liabilities amounted to £516 7s, of which £435 1s was expected to rank for dividend. The assets were estimated to produce £67 2s 3d less £65 15s 8d for two creditors for rent and rates, the deficiency being £433 14s 9d.

In reply to the Assistant Official Receiver (Mr JL Poland) debtor said he had carried on business in Scalby Road since January 1908.

He borrowed £300 from his wife, and nothing had been repaid and no interest had been paid.

Before commencing business he was a nurseryman’s assistant at 30s a week. The result of his trading on his own account was that he had lost about 30s a week – the same amount as he earned as a journeyman.

He attributed his failure to sudden termination of the lease of the nurseries on the death of the lessor, and having expended all his borrowed capital in developing them. The lease was for seven years, terminable at any time if the lady died. She was over 70 when he signed the lease.

He was, in the event of termination, to receive payment for stock and materials at the nurseries, but the amount was not to exceed £50. The lessor died in January 1912, and since then debtor had not paid rent, there was a distraint for £58 for rent.

His turnover at the nurseries had gradually risen.

He estimated 50 per cent profit, and whilst he made £90 profit last year, the expenses amounted to about £75.

Debtor first went to money lenders about August 1910.

He first borrowed £25, and gave a promissory note for £32.

Every year since then he had been to money lenders, and the interest paid amounted to between 30 and 40 per cent. Debtor had given to his brother-in-law a document in the nature of a bill of sale, but void for want of registration, charging the stock and materials in consideration of a sum of £15 10s advanced to the debtor at that time to pay out an execution.

He did not desire by this, that his brother-in-law should come in first before the other creditors.

Debtor had gone to other money lenders about two months ago, to get some things for the Christmas sale.

The furniture was claimed by debtor’s wife, she having acquired it under the will of her mother.

This, however, was included, with stock, in the distraint for rent. Debtor sold his furniture at North Shields before coming to Scarborough.

On the application of the Assistant Official Receiver the Registrar closed the case.