(...
C
238
END
The calculations of our requirements were well made and consequently as most of our money was earning, as soon as our money was earning, the firm was in a good condition and those who knew its internal affairs, including myself, were those who were most appreciative of the value of the firm. So much so that even after the firm had closed, that it had apparently got to the ultimate of disaster, those who know the inside of the firm (Judge intervenes) .... I, who knew
the inside of the firm, realised its value and was able to persuade others that the value was existent and I persuaded
them to enter into agreement to re-open the firm and to pay all creditors in full. The agreement was duly signed and stamped and a preliminary deposit made.
Under that agreement not only would creditors be paid in full, but certain assets were set aside for original shareholders of the company
the calculated value of which can be shown to be in excess of 75 cents in the dollar. The firm was competently and honestly run from its inception.
47.
(Sd). Instone Brewer,
13th August, 1929.