A FARMER'S BANKRUPTCY.

Auckland Star, Volume L, Issue 164, 11 July 1919, Page 9

A FARMER'S BANKRUPTCY.

Daniel Vincent Evan, farmer, of Paeroa, who failed to attend a meeting !of creditors last week, was examined before Mr. H. A. Young, S.M., at Hamilton yesterday. ' Bankrupt said he •was compelled to file last June because there was an order for imprisonment for debt against him. When he started farming he had four cows, but no capital. He took a leaso of about SO acres, with a purchasing clause, at a rental or 35/ per acre. He obtained further cows by giving a bill of sale over the others. He sold his equity in the property for £320, out of which he received only £20 cash. He bought a farm near Matainata, and took his stock with him. He was to pay £300 cash and the balance in seven years, but the deal fell through. The vendor held a clearing sale, and witness bought stock to the value of about £500. The auctioneers refused delivery of tho stock until bankrupt found the money. When questioned by the auctioneers, he produced a telegram from the Xew Zealand Dairy Association stating they would finance him for cows to the extent of £450. He did not know some of this money was "earmarked -7 to pay off the other bill of sale, or he would not have bought so much stock. At present he was working on wages. He did not attend the meeting of creditors because he was away when the notice arrived.