Re EDWARD CORBETT, Edward Corbett. junr., of Plaskynaston Chemical Works, near Ruabon, was examined. His liabilities were stated to be £65 4s 2d ; assets, £8 10s 4d ; deficiency, £56 13s 10d. Mr Poyser appeared for a creditor. — The bankrupt commenced business in 1876 with about £1,100 capital, lent by his father, which had been repaid by instalments. He was first in partnership with a Mr Athol, who had been manager cf the works. They were short of capital, and a Mr Black became a partner in 1877. He put £2,000 into the Plaskynaston Works, and £1,000 into some works in Manchester. The works in Manchester did not pay. Mr Athol shortly afterwards retired, and the partnership between bankrupt and Mr Black terminated in 1881 or 1882. Bankrupt borrowed £3,000 on a mortgage of the works from Mr Graesser; in order to pay Mr Black out. He carried on the business alone until August, 1891, when he made a private arrangement with his creditors. He could not say what his liabilities were, but Mr Graesser took over the works, and was to pay his creditors 6s in the £. Since that time he had carried on no business. He had done a small business as commission agent. He had lost £91 in a patent medicine speculation, and he had also lost in connection with a speculation in carbolic acid. — The examination was closed.
The Wrexham Advertiser, 14th April 1894
