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The Rushden Echo, 26th July 1929, transcribed by Gill Hollis.
Affairs of a Rushden Jeweller

James Francis Nix

James F Nix began his jewellery business, at 76 High Street, about 1912, but when WWI began he enlisted. he resumed trading on his return, but after ten years he was bankrupt. Rushden Echo, 27th June 1919, transcribed by Kay Collins

Now Demobilised — J. F. Nix, late of the Tank Corps, has now resumed business in watch, clock, and jewellery repairs.— 76, High-street, Rushden.

Deficiency of £849 - Several Years’ Insolvency

  In the voluntary petition of James Francis Nix, jeweller, High-street, Rushden, the first meeting of creditors was held at the offices of the Official Receiver (Mr. A.J. Rogers), Northampton, on Tuesday.

  According to the summary of debtor’s statement of affairs, liabilities expected to rank amounted to £932 12s. 3d., and there was a deficiency of £849 3s. 10d. Alleged causes of failure were “Lack of capital, small turn-over, and competition.”

  The following deficiency account, dating from June 30th, 1926, had been filed by the debtor : Excess of liabilities over assets, £746 5s. 10d.; depreciation of stock in trade, £75; household and personal expenses, £390; law costs and fees, £15; life assurance premiums, £12 18s., total, £1,239 3s. 10d.  Less, net profit from carrying on business from June 30th, 1926, £390;  deficiency, £849 3s. 10d.

  The Official Receiver said the receiving order was made on July 8th, 1929, on debtor’s own petition.  Proceedings had commenced by four creditors for sums amounting to £28.

  Knowledge of insolvency was admitted as from the year 1919.  Part of the household furniture is claimed by the debtor’s wife as having been purchased out of her monies, prior to the marriage.

  The total claims lodged at Tuesday’s meeting amounted to £762 5s. 3d., and four of the creditors – none of whom attended in person – having appointed the Official Receiver as general proxy, the matter was left in his hands for administration.


  16th August 1929.

Rushden Jeweller’s Bankruptcy

Business Stagnant for Three Years - Effects of Short Time in Boot Trade

  Mr. James Francis Nix, a jeweller, of 76, High-street, Rushden, and now living at 95, Kingston-road, Oxford, came up for his first public examination at the Northampton Bankruptcy Court on Friday before the Registrar, Mr. G. Hicks.

  Debtor had presented a statement of affairs which showed that his liabilities are expected to rank at £932 12s. 3d. He estimated his net assets at £83 8s. 5d., which left a deficiency of £849 3s. 10d.

  In reply to the Official Receiver, debtor said he acquired the business in October, 1913.  He had previously managed it for his uncle.  The previous owner of the business, also a jeweller, was a bankrupt.  It was agreed to pay about £400 to his uncle, who said when it was taken over that he should pay as he could.  The purchase money was allowed to remain until 1917, when it was paid by loans from other relatives.

  When he was called up to join the army his uncle asked for the purchase price and his (debtor) father paid the money.  His wife carried on the business during his absence, the stock was much depleted when he was demobilised.  At that time his father and father-in-law were debtors to the extent of £500.  After the boom period the business had gradually decreased, and the profit was barely sufficient to provide a livelihood.

  For the past three or four years he had been having executions against him, and he filed his petition because he was being pressed, and because the biggest shoe factory in the town – the Co-operative Society – went on one day’s work per week.

  Business had been stagnant for three years, and if he had known as much as he did now he would have taken that step ten years ago.

  In reply to a further question from the Official Receiver, debtor said he had had to face the competition of “fancy shops” which had opened in Rushden and did business in clocks and jewellery.

  The examination was closed.

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