LOST A FORTUNE.
. • 0 BANKRUPT PARMER'S STATEMENT. [THE TRESS Special Service.] WELLINGTON, January 23. "In my opinion, ■ there is no reasonable possibility ,of country land, values for many years getting back to a point where the properties in the estate would realise any more than the outstanding liabilities. Ib is useless to shut one's eyes to facts, and it is a fact that these securities, in common with many hundreds of other farm properties to-day, are not worth, tho amount of the first mortgage that was lent ten or twelve years ago, and which at that time showed at least a 40 per cent, margin on the valuations made by the most prudent trustee obtainable. Ninety per cont. of the farmers in the Dominion are bankrupt, if thev only knew it." Such was the opinion expressed by Charles Burdon Buxton, farmer, of Wellingtori, in a statement _ to his creditors to-day, which explained how he had been caught jn the recent slump in land values, and' had lost a fortune.
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Press, Volume LXIII, Issue 18912, 29 January 1927, Page 14
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169LOST A FORTUNE. Press, Volume LXIII, Issue 18912, 29 January 1927, Page 14
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