SALESMAN BANKRUPT

Press, Volume LXX, Issue 21258, 1 September 1934, Page 9

SALESMAN BANKRUPT

-ii CULDITOUS DO NOT ATTEND K MEETING

Debt:: amounting to £2137 Is 4d ! \vcrc disclosed in the statement of tlerbert William Candy, of 87 BurnS side road. salesman. a bankrupt. The i of creditors summoned for yesi tcrday by the Official Assignee, Mr I 11. Robertson, lapsed, no creditors j atti.ndin::. ; The following were the amounts ow- ; in:;: -Unsecured creditors, £240 4s 9d; '• mcun-il creditors, £3121 16s 7d; other ) iabil i ties, £323. The estimated value of securities was £1550. and there were nu a^els. The bankrupt. in his written statement .said that he .started in 1920 with 1 a capital of £1250 speculating in land ■ at I'apanui. purchasing 14', acres oi ih« k Nie hoi Is cstal6, and sir-c acres from i the National Bank, at a. total purchase j price of £4870. After three months : a valuable house on the property, on which he had spent £4OO, was burnt , down, and owhu* to the high cost ox build in;.; was not replaced. He was . compelled to leave because of his ; wife's ill-health, and the land and outI build in fa were leased to tenants, all of whom left owing rent. The pro!perty now would not bring more than : 30 per cent, of the purchase price. ! There was continued illness anion* I r.if mbei's of his family, and he himself ; I was twice involved in accidents. In I;' 1931 c stroke left him more or less , i incapacitated. Later he was ap!i pointed caretaker of Ihe Goose Bay : | Reserve. but under doctor's orders , F!ave up ihe position at tho rrd of •, e<j;ht months, lie returned to Christ- ! church and earned a small amount as . a canvasser. Tie was now on relief ; work, his .family contributing to the maintenance of his wife and himself. ' He had been a total abstainer throughout his life. Th° bankrupt expressed regret that ! ho did not file after the fire which de- ~ sk'oyed his house, when his creditor:-; ' ! would h:'Vo received 20 shillings in j *!-,!> iuui, there would have been r 1 *•< .■retr > et li i c ovi r.