HIT BY DEPRESSION
WEALTHY MAN'S FALL
SYMPATHETIC CREDITORS
(By Telegraph.—Press Association.)
CHRISTCHURCH, This Day
. The deflation in the price of wool and land-values, and the fact that the business depression had caused him to put all.lviSvprivato assets into/the business of William Go'ss, Ltd., timber merchants, were reasons given for his bankruptcy by William Goss to-day.
The deficiency, was estimated at £6700, with'£2o,ooo owing to secured creditors and £2700 to unsecured creditors. . ' '■':.■' •
- The bankrupt said" he, had invested over £9000' in a farm in Marlborough. The' farm did not pay, and was taken over by the mortgagees last December. His timber firm had.been hit by stagnation and depression. Goss saidthat a few years ago he was a comparatively wealthy man. The Official Assignee and the creditors expressed sympathy, and a resolution was passed that the bankrupt be allowed to retain furniture and effects to the value of £600.
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Bibliographic details
Evening Post, Volume CXI, Issue 106, 7 May 1931, Page 12
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147HIT BY DEPRESSION Evening Post, Volume CXI, Issue 106, 7 May 1931, Page 12
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