SPENT £1000 IN A WEEK.

Auckland Star, Volume XXXIX, Issue 70, 21 March 1908, Page 13

SPENT £1000 IN A WEEK.

TOUNG SPENDTHRIFT WINDS UP IS TRE BANKRUPTCY COURT. The affairs of Richard Atkinson, de. scribed as a gentleman, of Boyton Hotel, St. James-place. and elsewhere, disclosed in the Court of Bankruptcy. London, £4023 owing to unsecured creditors, and no assets. The debtor stated that upon attaining his majority in December, 1303, he became entitled to£SO.OCO under the. will of hi 3 great-grandfather, who died in 1566. The income from the estate was about £3000 a year, but that was insufficient for hi 3 expenditure. When he was told of his inheritance a sum of £1000 was placed to his credit in a bank, byt that evaporated in a'week. - He was not subsequently allowed to touch large sums, but raised money by buying furs and jewellery to the value ol thousands of pounds and pawning them. The tradesman who supplied the goods had bten paid by his trustees. The debtor had settled £8000 npon his mother, with reversion to himself, and £60.000 upon trustees, who had full discretion as to what they could do with the interest. He had also been entitled to a reversion of £10.000 on the death of his mother, but had sold both reversions for £4000. _;;; On one occasion, the debtor stated, he was supplied with two sets of furs- at £230, and, having raised £30 upon t >wv went away to Germany. ~ „".'. ." On his return he found that police. coaSl proceedings had been taken against, him, and he went to Brixton for a day or two. The furs, however, were redeemed. He was arrested in Paris in connection! with the purchase of jewellery, but -was acquitted of the charge, and on a third occasion he was -arrested in Tunis tor a debt of £43, but was released-upon "pay" ment of the claim. * --

The examination was concluded. -