The Rushden Echo, 16th April, 1915, transcribed by Gill Hollis
Rushden Builder's Failure
Public Examination in Bankruptcy
Losses on Contracts
The public examination took place on Tuesday, at the Northampton Bankruptcy Court, of Joseph Harrison, formerly a builder, Wellingborough-road, Rushden.
The debtor said he estimated the liabilities to rank against the estate at £252/12/1, and his assets at £138/4/3, leaving a deficiency of £114/7/10. He began business fifteen years ago with £25 capital.
In March, 1906, he entered into partnership with a man named Windsor, and they traded as Harrison and Windsor until February, 1908, when the partnership was dissolved. No proper balance-sheet was drawn up, but he paid Windsor £30 and took all that was left. He thought that was a fair arrangement. He had not kept full accounts and he had been in difficulties since two years ago, when the bank pressed him on account of an overdraft.
His insolvency was due to losses on contracts. The largest contract he ever took on was one of £900 with the Athletic Club, and on that he made about £20. On another contract for £650 he lost about £150. During the last two years he had paid a considerable amount off the debt to one creditor, but he had contracted debts with firms with which he had not previously done business. He did not think his estate would have yielded a better dividend had he pulled up in 1913.
The examination was closed.