Bankruptcy of J McPherson & Son

[AsMcP]

In December 1872, James McPherson and his son John McPherson, partners in the shipbuilding company James McPherson and Son, of Perth, had their estates sequestered. This was reported in the Edinburgh Gazette of the time. 
The trustee appointed was Alexander Tosh, an Accountant of Dundee, and an examination of these two was to have taken place in the Sheriff Court House, Perth, on 21st December 1872. The creditors were then invited to meet in the Solicitor’s Library, County Buildings, Perth, on 30th December 1872, presumably to discuss the outcome of the earlier meeting.
My question is, is it likely that any records still exist of either of these meetings and where could they be accessed as I would very much like to learn the details of this bankruptcy?
Al

[Forfarian]

My question is, is it likely that any records still exist of either of these meetings and where could they be accessed as I would very much like to learn the details of this bankruptcy?

Very often these proceedings were reported in a local newspaper.

There may also be documents in the National Records of Scotland. I got all the court papers relating to the sequestration of my great-great-great-grandfather there.

[AsMcP]

Thank you Forfarian for your response and for your suggestion of the National Records of Scotland as a possible source of information. I've had a look at their website and, although they may hold what I'm after, finding it could be quite a challenge.

Al

[Elwyn Soutter]

There’s a fairly detailed report on the bankruptcy proceedings in the Perthshire Advertiser of 26th December 1872. Mr McPherson was examined at length and struggled to explain some aspects of the firm’s finances. He didn't seem to have had a clear overview of the firm’s full financial position, didn’t anticipate some debts that became due for payment and wasn’t able to explain certain unusual transactions. He also placed some blame on his predecessor a Mr Geddes who had retired. The examination was adjourned for a couple of days and is presumably concluded in a later edition.

[AsMcP]

Very many thanks for this Elwyn, it is exactly what I was looking for. Would you mind telling me how you gained access to this report?
This insolvency was the cause of my ancestors to leave Scotland, and the detail would be of great family interest.

Al

[Elwyn Soutter]

Very many thanks for this Elwyn, it is exactly what I was looking for. Would you mind telling me how you gained access to this report?
This insolvency was the cause of my ancestors to leave Scotland, and the detail would be of great family interest.

Al

British Newspaper Archive, searching under his name alone produced the hit.

[AsMcP]

My thanks yet again Elwyn for your help. I have taken out a subscription and found the report. A bit of poor book-keeping involved it seems, or no book-keeping at all!

Al