MEETING OF CREDITORS

Evening Post, Volume XCV, Issue 69, 21 March 1918, Page 4

MEETING OF CREDITORS

ESTATE OF WALTER WALSH.

A meeting of creditors in tho estate-of Walter Walsh, machinist, Petone, a bankrupt, was held yesterday afternoon. Air. S. Tansley, Official Assignee, presided.

In his sworn statement the bankrupt said that he was a married man with five children, all of whom were of age and away from home, except a- daughter. He received no assistance from his children. About two years ago ho was in a. fairly good position, with £150 in capital and three racehorses. He then had a run of bad luck through the horses breaking down. He ran horses at a. loss up to the time of purchasing Fashion. Plate for £45. This purchase turned out bitdry, as the mare never won a race. He had to borrow £30 from one Balkind on the mare to keep her running, and this loan, with interest, amounted to £46 10s. The horse was seized under a- bill of sale. This was practically his only asset beyond a light trap and racing gear worth about £15. All the debts incurred were in connection with the racing of the mare. He had paid all his household expenses out of his wages of £3 17s per week. r

The liabilities, according to the statement of accounts are: Unsecured creditors, £162; secured creditor (L. W. Bal"kind), £46 10s, estimated value £45. Assets: Trap and gear, £15. The»principal unsecured creditors are: F. Warring, Onga. Onga, £50; F. H. Jopson, Wellington, £27 10s; C. W. Wright, Petone, £17 15s; G. Frew, Wellington, £23 13s 4d; City Motor Works, £13 15s; and several smaller amounts.

The meeting was adjourned sine die,