SEA HORSE A433

Accidents and Incidents

From The Weekly Mail of Saturday 21st May 1904:

BANKRUPTCY ACTS—RECEIVING ORDER.

Thomas Ridley Oswald, of the Fish Wharf, East Dock, St. Thomas, Swansea, and Milford Haven Docks, shipowner and steam trawling owner.

From The Cambrian, Friday 10th June 1904:

SWANSEA TRAWLER OWNER'S FAILURE.

Sums Involved: Statement of Account.

As previously stated a receiving order has been made on his own petition against Thomas Ridley Oswald, Beresford House, Uplands, Swansea, carrying on business at the East Wharf, Swansea, and at Milford Haven Docks, as a ship owner and steam fish trawling owner. The gross liabilities are returned at £29,973; expected to rank, £6.406. The assets are estimated to produce £6,900; surplus, £493.

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Debtor's deficiency account shows: "Excess of assets over liabilities, on May 12, 1901, £15,000; household expenses, 3 years at £800, £2,400; depreciation of vessels, £3,412 loss on sale of Sea Horse and Sea Eagle, £3,000; bank charges, £1,606; loss in shares Swansea Steam Trawling and Pure Ice Co., Ltd., £4,000, etc. Total amount accounted for £16,910."

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In May the debtor convened a meeting of his creditors at Swansea when a statement was submitted to them showing a surplus of £1,583. The meeting, however, declined to adopt the debtor's proposals and passed a resolution that he should file at once, which he did.