HORATIO BOTTOMLEY.

Press, Volume LXVI, Issue 19941, 30 May 1930, Page 19

HORATIO BOTTOMLEY.

EXAMINATION IN BANKRUPTCY.

EARNINGS AS A JOURNALIST. (1-fIOIC OUSt OWS COBSKSPOKDIST.) LONDON, April 24. Mr Horatio Bottomley attended the London Bankruptcy Court last week and was examined by Mr Registrar Warmington. He was described as a journalist, of Grosvenor Gardens, S.W. , His amended statement, of affairs showed liabilities of £116,769, and estimated assets of £IOOO, opart from two book debts of the face value of £11,500 the realisable value ot which was very uncertain. Of the liabilities, *; were returned as due to the trustee in the 1922 bankruptcy, proceedings, being in respect of the unsatisfied balance of debts according to the proof of debt. Questvmed by Mr Waterer the Deputy Official Receiver. Mr Bottomley said that he had failed on three .previous occasions, but on the first two tnereceiving orders were rescinded, suui the adjudications were annulled, the debts being paid m tun. Regarding the third occasion, he said that he had been engaged as editor and editorial auvisor, and he was adjudged bankrupt on August 4th, 1922. He was told that his ranking liabilities then were £90,000 odd, and his assets £28,928.

Lost Money on Books. Mr Bottomley said that his examination on that occasion was not technically concluded, and he was not in a position to apply for his discharge. Ho came out of Maidstone Gaol in July, 1927, and began as a free-lance journalist, earning in that way up to March, 1928, about £12,000. Out of that sum he paid to the trustee in the 1922 failure a sum of £3260 under arrangement with the Court. He also published two books.

Mr Waterer: What were theyt

Mr Bottomley: "Songs of the Soul," and the other had a somewhat unique title, "Humours of Prison Life." I lost money over them —approximately a few hundred pounds. During 1928 and 1929, added Mr Bottomley, he obtained about £SOOO from various newspapers for libel. He also obtained judgment against Mr H. J. Houston for £ISOO in a libel action, but had received nothing. In 1928 he registered a private company, the Phoenix Press Company, to run a new weekly journal, "John Blunt." As promoter various shares were allotted to him under the registered agreement. He also became editor of the company's periodicals, hie salary being contingent on profits, but no profits were made. Certain of the shares were allotted to nominees. Prom time to time he financed the company out of his journalistic earnings and libel damages. The company had insufficient working capital to be a success, and in October, 1929, an order was made for its compulsory winding up. At that date the company's books showed that it owed him about £16,000. Examination Adjourned.

On certain figures being put to him by the Deputy Official Receiver, Mr Bottomley said that if these were correct they would seem to show that he had had out of the campany about as much as he had put into it, and that all that he had lost was £1250. "But, he added, "£1250 in these days is something to me:" He did not say, however, that the figures put.by the Deputy Official Receiver were correct. He was not responsible for them and had not checked them. He (Mr Bottomley) would have to investigate the matter. He had since remembered some things and that he had paid considerable sums back to pepole Who said that they had suffered over the Victory Bond Club. H? also spent money in restoring things on his wife's estate when he ieturned home. Mr Waterer: Do you agree that you will have to find a new reason for your insolvency ? Mr Bottomley said that he must look into the matter. Considerable sums were paid to him direct for shore* in the PncMiix Press. On the Deputy Official Receiver's application, the examination was adjourned until May 21st.