"LACK OF WORK."

Press, Volume LXIII, Issue 18917, 4 February 1927, Page 7

"LACK OF WORK."

CHEVIOT FARMER BANKRUPT. A meeting of tho creditors in tho bankrupt estate of Bernard Oakley Warrington, cniployco of tho Kaiapoi Freezing Works, was held in tlia office of tho Official Assignee yesterday. Tho unsecured debtu wore set down at £l4O IGb 7d, and tho assets at £159 Is 9d, leaving a surplus of iIS 5s id. Thcro is £550 18s ad owing to secured creditors, but tho value of tho security is estimated at £OSO, leaving a balance of £99 Is 9d of securities ovor thoto debts. Tho principal unsecured creditors arc:—o. M. Truman, Cheviot, storekeeper, £63 16s 8d; J. T. Brown and Son, Belfast, merchants, £8 lis fid; Dr. Bevan Brown, Christchurch, £7 10s; Dr. O'Brien, Christchurch, £5; Morrow, Cuddon and Co., Christchurch, merchants, £ll 12s Id; Cheviot Motor Co., £7 lis 3d; N.Z. Farmers' Coop. Association. Ltd., £2l Qu 7d; It. Gibson, Kaikoura, £0 18s 6d. The secured creditors arc:—J. Campbell, Kaikoura, farmer, £l3l 10s 2d; Sargent and Dale, solicitors, Christchurch, £lO3 8s Id; Evans and Bull, agents, £lO. In hib sworn statement bankrupt stated that in July, 1922, ho went to Cheviot and took over a placo of 10 acres and house. He had effectad an exebango on his City property, but no money passed on the exchange. The placo was fairly heavily mortgaged, and nt that time he had no cash except £lO for furnlturo ho had so!d. Uo could only get day work, and lost much timo through broken weather and difficulty In getting work in the winter. Ho was married with four children. He did not mako anything off the place, although ho built a slaughterhouse on it. Ho attributed his bankruptcy to difficulty In obtaining work. Mr T. T. J. Amodeo appeared for the bankrupt. The Official Assignee stated that tho only assets were tho Mock on bankrupt's farm. Thcro was an additional debt of £sl Is 2d owing. Bankrupt, in answer to the Official Assignee, said that he had earned about £l5O during tho past year. Ho had earned ■ this amount by shearing and labonrinx. 110 had averaged about £5 per week for tho past three months. Tho slaughterhouse had cost him about £55. It was decided that the estate be left in the handu of tho Official Assignee.