|The Rushden Echo, 19th November 1909, transcribed by Kay Collins
BankruptcyA receiving order in bankruptcy has been made against Edward Scroxton and Arthur Herbert Scroxton, carrying on business in partnership under the style of E. Scroxton and Sons, both of Portland-road, Rushden, removal contractors and job masters, liabilities are £187/10/2, of which £184/15/11 is expected to rank; assets, £70/13/9; deficiency, £114/2/2. The causes of failure, as stated by the bankrupt, are: “Losses from horses dying; heavy responsibilities with regard to the property which E. Scroxton contracted to purchase; and slackness of trade during the months.” The Official Receiver's observations are:The receiving order was made on November 6, on the petition of the debtors themselves, and they were on the same day adjudged bankrupts on their own petition. The bankrupts (aged 58 and 31 respectively) have carried on business at Rushden for a number of years past. The business was commenced by E. Scroxton 25 years ago without capital, his son, A. H. Scroxton, joining him when he was years of age. There was a younger son employed, but he took no part in the management of the business. There is no deed of partnership. The furniture is claimed by the wives of the bankrupts. By an agreement dated December 22, 1905, the bankrupt, Edward Scroxton, agreed to purchase three houses in Portland-road, Rushden, also certain land adjoining, together with the buildings thereon, for £1,240. The sum of £170 was paid as a deposit. Interest had been paid on the balance of the purchase money at the rate of 4 per cent, up to June 24, 1908, and since that date 5 per cent. The first meeting of the creditors is fixed for Nov. 23, and the public examination the same date.
The Rushden Echo, 26th November 1909, transcribed by Jim Hollis
A Rushden Firm’s Failure - Public Examination - Involved In Property
At the Northampton Bankruptcy Court on Tuesday, Edward Scroxton and Arthur Herbert Scroxton, both of Portland-road, Rushden, carrying on business in partnership under the style of E. Scroxton and Sons, removal contractors and jobmasters, came up for their public examination. The gross liabilities were shown as £187 10s 2d., with £184 15s 11d. to rank for dividend. The assets were estimated to produce £70 13s 9d., deficiency £114 2s 2d.
Mr. J.C. Parker, Wellingborough, appeared for the debtors.
In answer to the Official Receiver Edward Scroxton said he began business 25 years ago without capital. Later his son joined him, but there were no deed of partnership. They did fairly well up to Christmas, 1905, when he entered into a land speculation and took
which had in a measure contributed to his insolvency. He had no money beyond that he was earning at the time, but he took to land and stabling, and entered into an arrangement for building three cottages. That involved him in a liability of £1,242 10s., which he thought he would be able to pay. He was to pay £170 down, but he had not completed the agreement and the property had not been conveyed to him, so that the vendor could take possession at any time and the 3170 had gone. His son took over the business and made an effort to pull it out of the fire, but he had not succeeded.
Arthur Herbert Scroxton stated he thought that in June, 1908, they could not pay 20s. in the £; in June 1909. he was certain about it. Four years ago horses began to die from eczema, and in all they had lost ten. In that way they lost at least £50.
The examination was closed, subject to the usual formalities.