HF47/3/8

Papers relating to R Margetts & Son of Huntingdon:

1856-1893

From: 1856 To: 1893

George Wright gave up the wine and spirit business at Girtford Wharf (see letter of 22 December 1885 written from Cairo, Egypt, our reference HF47/3/8/1). Frederick Safford took over the business, paying £211..1s for goodwill. He took possession on 4 March 1886. On 4 June 1886 Safford leased the office, cellars and premises at Girtford to R Margetts and Son for 7 years at a rent of £22 per annum. At the same time Safford lent £500 at 10% interest for the length of the lease (HF47/3/8/3). By this date Robert Margetts was living at Shanklin, Isle of Wight, where he died on 29 February 1888, leaving £3, 471..16s..11d debts mainly on mortgage. Robert M Margetts, his son, went bankrupt owing £2,347 (£1,545 was owed to his father's executors, as a result of £1,500 loaned by his father when R Margetts became a partner in 1882) R M Margetts was also a partner of H M H Rich who provided capital pf £3,000 The firm of Margetts and Son was assigned for the benefit of creditors in June 1889. A dividend of 2s..6d in the pound was paid. Losses because of the firm's purchase of Le Fond Freres of 56 Berwick Street, London, were alleged to be a contributory factor. The receiving order was dated 25 October 1889 The principal debt owed to Safford was due from Margetts and Son. In HF47/3/8 is a considerable correspondence between various solicitors interested (especially Ginn and Matthews of Cambridge, acting for the principal creditors, Foster and Company, bankers to T J Hooper lasted until April 1893 when Safford received a proportion of the money he was owed).

file

Margetts & Son,
Margetts, R & Son,
Wright, George,
Safford, Frederick,
Margetts, Robert,
Rich,
Ginn & Matthews

Huntingdon, wine and spirit merchant, Sandy Girtford Wharf, Girtford, Shanklin, DEATH, BANKRUPTCY