Kinematograph year book (1929)

226 The Kinematograph Year Book. the lease to the landlords. In March, 1928, debtor gave a bill of sale for £400 over his household furniture, which was used in payment of his debts. Debtor alleged that he became aware of his position in May last. Patrick Walsh, of The Half Way Hotel, Pengam, Glamorganshire, lately The Victory Cinema, New Tredegar, Monmouthshire, kinema exhibitor. The first meeting of the creditors herein was held on January 13, at 34, Park Place, Cardiff. According to the statement of affairs there were liabilities of £553 is. 3d., against assets estimated to produce £12, being insufficient to meet the claims of the preferential creditors. Debtor attributed his failure to trade depression, heavy overhead charges and lack of capital. David Thomas Williams, 8, Bankes Street, Aberdare, Glam.,late Picture Palace, Cwmaman, Aberdare, picture palace lessee. The first meeting of the creditors of the above was held at Cardiff. The statement of affairs showed liabilities of £115 gs. 5d., against assets of £18 14s., or a deficiency of £96 15s. 5d. Debtor attributed his failure to trade depression caused by stoppages of local collieries and forced discontinuance of business at kinema. The matter was left with the Official Receiver as trustee. APPLICATIONS FOR DISCHARGE. Electric Press Printing Co. (Edgar Baillie Smith, trading as), 12, Shaftesbury Road, Hornsey Rise, London. Debtor applied to Mr. Registrar Warmington for his discharge from the Order of May last adjudicating him a bankrupt. The Official Receiver reported that his liabilities were £551 and his assets realised £22. Originally a traveller for a firm of photographic material manufacturers, he subsequently became a kinematographer, trading under the style of the Phcenix Film Picture Company at 16, Charlotte Street, W. The business, which was fairly successful, was ultimately ruined by the war, and in 191 6 he executed a deed of assignment, under which a dividend of 3s. ijd. was paid on claims aggregating £3,682. In October, 1925, he entered into an agreement with the petitioning creditor, a printer, and on April 1, 1926, he and two other persons agreed to purchase the business of the Electric Printing Co. for £130, and agreed to take over the vendor's liabilities, amounting to £213. The persons associated with the debtor provided £250 capital, and the business was carried on under the management of the petitioning creditor. The capital provided was exhausted by June, 1926. and in March last the landlord distrainedforrent. The debtor attributed his failure to mismanagement of the business. The discharge was suspended for two years. Arthur Wilton Nicholson, The Rialto Cinema Theatre, Birley Street, Kirkham, Lancashire, kinema proprietor. The application for discharge of this debtor was heaid at the Sessions Hall, Lancaster Road, Preston. The proceedings took place in 1926. The Official Receiver said the ranking liabilities were estimated at £1,752 5s. 6d., but the proofs actually received in October, 1926, were £1,256 and the probable claims not then received totalled £2,332. In 1923 debtor opened a variety agencyin Blackpool which never appeared to have paid. He took over the Empire Kinema , Kirkham, on lease at £32 per month, and that proved disastrous, although debtor carried on there for six months. The Judge said that debtor was in financial difficulties when he began business, and he continued knowing himself to be insolvent. There were not enough assets to pay the expenses of the proceedings. He refused to grant the discharge. Leon Vint, Long Acre, W.C., proprietor of variety and kinematograph theatres. Application was made by the above debtor to Mr. Registrar Mellor, at the London Bankruptcy Court, for his discharge. The Official Receiver reported that the liabilities were £14,971 and there were no assets. Debtor commenced business in 1891 as a proprietor of a touring company, and from time tc time acquired provincial halls and theatres which he opened as variety or kinematograph theatres. In 1 91 1, Vint's Theatres, Ltd., was formed with a nominal capital of £20,000. He attributed his failure to the slump in the theatrical and kinematograph businesses and the consequent depreciation of his shares in the two companies, to losses by betting, to living beyond his income, and to heavy expenses for travelling and entertaining in the endeavour to obtain business for his companies. The discharge was opposed by the Official Receiver on statutory grounds. His Honour, having reviewed the facts, suspended the discharge for four years. PRIVATE ARRANGEMENT. ThOS. Arthur Edwards, Anchor Wharf, Windmill Lane, Long Ditton ; Victoria Wharf, Fulham ; and " Wych Elm," Embercourt Road, Thames Ditton, kinema proprietor, etc. Mr. Burleigh, who had acted in the matter previously, said that he had called the creditors together because he had received an offer from a firm who were willing to purchase the assets shown on the statement of affairs which had been prepared by his firm as at August 17 last, and the money would pay the creditors the sum of 5s. in the £. The majority of the creditors, however, were against accepting it. A creditor present said that he was acting for the first petitioning creditor, and he was going to press for a receiving order in bankrupt cy immediately. Several of the creditors at the meeting said that they were willing to assist with the bankruptcy petition. The meeting then terminated. A largely attended meeting of the creditors herein was held at the Cannon Street Hot el E.C., on September 12, when J. C. Burleigh, of Messrs. Thomson, McLintock and Co., chartered accountants, of 71, Queen Street, E.C., trustee . under a deed of assignment executed by the debtor, presided. The statement of affairs disclosed iiabilities of £78,268, and there were assets of £19,820, or a deficiency of £58,448. A creditor proposed that the creditors should agree to the deed of assignment alreadjr executed and that a committee of inspection, consisting of five of the trade creditors, should be appointed. That proposition was seconded and carried by a small majority.