Birmingham Daily Gazette, 11 Oct 1923

Bankruptcy Surprise

Assets realise more than estimated

An unusual feature of bankruptcy proceedings in Birmingham yesterday was that the stock-in-trade had realised a larger sum than that estimated, by the debtors.

“It was most unusual,” said the official receiver (Mr T Easton), “and I take the first opportunity of giving the bankrupts credit for it.”

The debtors were two ex-servicement, Norman Felk [Frederick] Paulin of 363 Birchfield road, Perry Barr, and Harry Russell of 118 Green-Lane, Small Heath, who carried on business at 933 Station Street, as “Paulin Russell and Company”, fancy goods and hardware merchants.”

In reply to the Official Receiver, they said that the business, which was started in February last, was a losing concern since its inception, being run on borrowed money.

The statement of affairs showed a deficiency  of £253 4s 1d.