BANKRUPTCY OF A MARQUESS.
INVOLVED IN HATRY CRASH. (TJJfITZD PIOSSS ASSOCIATION —US El.&C'f JUC TELEGRAPH —COPYRIGET.) LONDON, November 19. Liabilities duo to association with Hatry companies is stated to be the cause of the insolvency of the Marquess of Winchester, whose liabilities total £462,000. There is expected to be £236,000 in assets. The Official Receiver said that the Marquess of Winchester became associated with Clarence Hatry in 1926. He was chairman of four companies and attributed his insolvency to liabilities incurred on behalf of the Austin Friars Trust. He was raising large sums for this company, alt-bough the shares had always been valueless. Also third parties, including the banks, were claiming between £200,000 and £.100,000 on securities which Hatry handed him. The Marquess also borrowed £20,000 from moneylenders.
He owed tradesmen £IOOO and was also liable for Stock Exchange transactions to the extent of £70,000. His assets were 500 £1 shares, a motor-car worth £3OO, endowment policies which were cue shortlv and a settled estate, in which he has a life interest. He had rlready mortgaged his income from his directorships, which had been -CSOOO. His expenditure averaged from £4OOO to £SOOO yearly.
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https://paperspast.natlib.govt.nz/newspapers/CHP19301121.2.104
Bibliographic details
Press, Volume LXVI, Issue 20091, 21 November 1930, Page 15
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193BANKRUPTCY OF A MARQUESS. Press, Volume LXVI, Issue 20091, 21 November 1930, Page 15
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