FORMER MILLIONAIRE'S BANKRUPTCY
PIONEER IN PNEUMATIC TYRE INDUSTRY LONDON, November 22. Sir Arthur Ducros, formerly a millionaire, who was a pioneer of the pneumatic tyre industry, and who lent Craigwell House for the King's convalescence, disclosed at a public examination in bankruptcy that his position was due to a judgment for £4OOO obtained by his former fiancee. Sir Arthur explained that he agreed in 1926 to pay her £2OOO a year and her mother £SOO. Later the girl married and her husband did not support her, and consequently he supported her and her family until she went abroad in 1933. She returned in 1934 and demanded £4742 of accrued arrears of income, although he had paid debts and made advances to the extent of £26,000 in excess of them. He added that he was divorced in 1922 and married his present wife in 1929. Sir Arthur Ducros said his income from 1912 to 1918 amounted to £30,000 and he possessed £1,000,000 in 1918. The Ducros group lost £950,000 in the Hatry crash, of which he and his family lost £600,000. He gave his family £255,000 between 1919 and 1929, and spent £115,000 on Craigwell and other properties. ■ He lost £BO,OOO on a yacht. His investments depreciated by £585,000 between 1919 and 1929. His liabilities were £74,218, and assets £27,046.
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https://paperspast.natlib.govt.nz/newspapers/CHP19351125.2.41
Bibliographic details
Press, Volume LXXI, Issue 21639, 25 November 1935, Page 8
Word Count
219
FORMER MILLIONAIRE'S BANKRUPTCY
Press, Volume LXXI, Issue 21639, 25 November 1935, Page 8
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