BANKRUPTCY.

Auckland Star, Volume XVII, Issue 209, 6 September 1886, Page 2

BANKRUPTCY.

At tho Official Assignee's office to-day, John Houghton, debtor, under examination, deposed that ho nad been practising as a solicitor for the last six months, during which timo he had about cleared expenses. His original capital hid beon diminished by living expenses while he was studying his profession, and also through depreciation of property purchased. He was forced into Court owing to the demands of tho syndicates with which he was connected and rentals of city leases held in his name. About May, ISB4, ho had £2,700 in deposit receipts in tbo Bank of New South Wales, which, as thoy became due were deposited in the Auckland Branch against his drawing. This sum included £413 8s belonging to the trustees of his son, being proceeds of propei-tv settled upon him shortly after his birth. About 3 yoars ago, just before witness left Dunedin, the property was sold, and iho money, with accrued interest, was invested in a houso in 1884. In October, 1885, tho bank pressed for security for overdraft amounting to £666 2s 9d, and ho gave all the securities he had. These he considered fully indemnified the bank. His uninsured debts amounted to £233, are syndicate calls, rent of city leaseholds andsecurity accounts. The secured liabilities amount to £8,800, against which the bank hold the before mentioned securities, and 50 acres of land at Remuera, under a syndicate of which he was a member. His assets consisted of £50 book debts and £50 second mortgage of land at Surrey Hills. He gave his wile the household furniture and effects in consideration for £78 borrowed on his life policy, held by her. _ The piano also belonged to his wife, having been formally made over to her in 1884. His only other assets were certain shares in various companies. He kept no books, because doing no business. His bank pass book showed every transaction.

A case iv which Charlea Richardson is charged with aasaulting George Whiskor waa to havo been held at the Police Court this afternoon, but it has been adjourned until to morrow.