The manner in which a man may get tied up financially in bad times was illustrated at the Auckland Magistrate's Court recently. A witness was asked, -'How much money have you now?" and replied, "About one shilling." Yet, in the course of examination by counsel, it was shown that the debtor had mortgages on land from which he was getting practically no return. In one case, the best offer ho had received for a mortgage of £'2ooo was only £SOO. The property had been thrown on hie hands. As there was a sub-mortgage for £3oo,'the offer simply meant he would lose all his money, but at jpresent he was getting £2O a year for grazing rights.
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Press, Volume LVIII, Issue 17408, 20 March 1922, Page 4
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116Untitled Press, Volume LVIII, Issue 17408, 20 March 1922, Page 4
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