BANKRUPT FARMER.

Auckland Star, Volume LIX, Issue 79, 3 April 1928, Page 8

BANKRUPT FARMER.

MUSTS HIS CBEDITOXi. HIGH PRICE FOE FAKJt V

A deficiency of £994 was sliown a »- schedule presented by Percy Alfred Insley, farmer, of Ness Valley, Ctevedon, who was examined by the Official Assignee (Mr. G. Morris) yesteiday, .ere were two creditors present •. editors, and £5165 was owing *o eecmcd editors, £5165 was owing to sooiired creditors. The securities were valued at £>170. : ' Bu. krupt said that he baughtafara of 179 acres at Ness Valley under tbl Discharged Soldier's Settlement Scheme. The price was £4680. Bankrupt had $ partner, and the Crown, loaned the full purchase price, financed ibe~Nr* chase of stock and plant, taking secarity over everything, Bankrupt said that ha had paid too much for the property, and the Valuation Board offered to reduce • the mortgages if be could set release from liis creditors. Ha could not get any concession as longaf bt was in debt outside the Crown. Hp wu married with four young children. ' t Mr. Morris said that ' bankrupt'! position seemed to be hopeless, for boom years. The meeting was adjourned;