Rushden Echo, 7th May 1909, transcribed by Kay Collins
BankruptcyAn application for discharge in bankruptcy was made at Northampton Bankruptcy Court on Wednesday by William Shakespear Brown, formerly in business at 41 High-street, Rushden, as a baker and confectioner. The official Receiver said the receiving order was made on Feb 1, 1901, on the debtor’s own petition, the public examination being concluded on April 2. The bankrupt’s statement of affairs showed liabilities £176 13s. 5d. Prior to the receiving order being make bankrupt’s landlord distrained, and his claim absorbed all the assets, so that no dividend had been or could be paid to unsecured creditors. The bankrupt began business as a baker and confectioner at Rushden in September 1889, with a capital of £130, £15 of which was his own money, and the balance of £115 was borrowed from his wife. Before beginning business bankrupt had earned his living as a musician, but he had a knowledge of the baking trade. He first became aware of his insolvency 12 months before the receiving order. He was anxious at that time to borrow some more money, but the proposed lender employed a valuer to inquire into the matter, and it was then found that there was a deficiency, but the bankrupt was unable to say how much it was (he thought £20 or £30), or what became of the informal balance-sheet then prepared. He tried to improve his position and the business, but was unsuccessful. His difficulties were competition in trade and want of capital. His honour granted the discharge, subject to the two years’ limitation.