BANKRUPT FARMER

Evening Post, Volume CXIII, Issue 137, 14 June 1927, Page 11

BANKRUPT FARMER

SHAREMILKING AND RACING

(Special to "Tha Evening Post.")

PALMERSTON N.,'This Day. Share-milking and racehorses do not mix successfully, as the creditors of a Rongotea farmer discovered, who tried to carry on tho one as a business and the other as a hobby. William James Sexton, fanner, of Rongotea, whose debts totalled £228 14s Bd, underwent a scvero cross-ex-amination before the Deputy .Official Assignee (Mr.' C. Dempsy) yesterday; concerning his endeavour to run racehorses on an incomo of less than £300 a year. In his personal statement bankrupt' said: "I am a sharomilkor at Glen proua on a one-third share. My family assist me on the farm. I took up my present position about ten years ago. I was then free from debt, but penniless. I aid well, and within two years I was given full management of the farm. I had kept a racehorse practically all my life, and as I hud saved i a few pounds, and prices were good, I was tempted to try my luck again. This venture left me £000 in debt.*'

Under cross-examination by tho Deputy Official Assignoo,' bankrupt said that his averago earnings from sharemilking foe tho last two years were £300. He;.could make no offer to his creditors.

Tho meeting was adjourned. for two weeks to see if bankrupt could make any offer to his creditors.

Mr. Collinson gave notice of motion that he would move at the next meeting that bankrupt's furniture bo left with his wife, who, ho stated, was practically an invalid. '