CAUGHT IN SLUMP
A BANKRUPT SOLICITOR
(By Telegraph.—Press Association.)
AUCKLAND, This.pay.
John Trances Pnllen,an Auckland so« lieitor, was to have met his creditors today, but there was no qudraniyf Po-llen's statement showed debts * £2000 and assets over £6000. The claims of unsecured creditor r totalled .'."£500 .and secured creditors: £5400; .The-value o^ the'securities-was estimated .at £10,860. The assets included property.1 valued aC £2870, and surplus from ." securities £5460. He had made large investments in land and house property when times were good, but had been caught by the slump, and it had cost him £700 year-ly-to hoia on to properties. He; had to part with large personal property to pay interest, rates, etc' The worry of it haa unnervea him, ana he. had hot practised law for two years'.'" To-day I have only Is 6d in the world,'? he added.. He owed not a. penny for,goqds. The" Official Assignee said that though' there was no quorum, he would like the opinion of those present. It was agreed to facilitate the debtor's discharge, the Official Assignee to investigate with a view to realisation of the properties.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/EP19291003.2.103
Bibliographic details
Evening Post, Volume CVIII, Issue 82, 3 October 1929, Page 11
Word Count
185CAUGHT IN SLUMP Evening Post, Volume CVIII, Issue 82, 3 October 1929, Page 11
Using This Item
Stuff Ltd is the copyright owner for the Evening Post. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.