A meeting of the creditors of Mr. W. E. Sargent, ironmonger, High-street, Rushden, was held at Kettering, on Monday. The statement of affairs showed that the sum due to unsecured creditors was £227/18/3, assets £53/15/6, deficiency £174/2/9. The stock-in-trade was put at £107/13/3, book debts £65/6/8, plant, fixtures, and fittings £4, total £176/19/11, from which was deducted £123/4/5 for rent, etc.
Besides the claims shown on the statement of affairs, it was stated that debtor’s father (Mr. John Sargent) let him have £200 twelve years ago when he started in business, for which a note of hand was given. Since that time the father advanced him £50. These amounts had been left out of the statement. No rent had been paid since October 1905, and total owing was £144, with a contra account of £20/15/7.
The wife was a dressmaker with a separate business, and most of the furniture was purchased with her money before the marriage. An assignment was decided upon.