| The following information was found in the
Harrogate Herald - 13th October 1886 At the York
Bankruptcy Court, on Friday week, Frederick Yates was examined by the
official receiver, Mr S T Wilkinson, in reference to the cause of his
bankruptcy.
He said he carried on business as a tailor and outfitter,
in Princes Street, Harrogate, and resided at Pannal. He commenced on
borrowed capital, which was still owing, about three years ago. He borrowed
£50 from Mr Farrow and paid 10 per cent on it; £25 from Dr Ward
at 5 per cent; and £15 from his brothers and sisters, and £25 from his
mother without any agreement. He had kept a ledger and a day book but no
cash book. He had a banking account, and owed upon it about £20, for which
Dr Ward was surety. His assets consisted of stock-in-trade, fittings,
book debts and furniture. At cost price his assets were estimated to realise
about £300, exclusive of £33 in book debts.
When he filed his petition the landlord had distrained for
rent, and he had the Sheriff's Officer in on behalf of other creditors. He
was paying for five men in possession. His debts amounted to a little over
£500. He attributed his failure through expenses by being heavily pressed by
his creditors, bad trade and illness. He and his children had scarlet fever
in April last, and he was away from business eight weeks. In March, 1884, he
took stock and found himself £10 to the good.
He had a wife and five children, and had spent about 25s
per week over household expenses. The examination was adjourned until the
22nd inst., in order that the debtor might be able to give a statement with
regard to bad debts in his books. |
