DEALER IN LAND
SLUMP CAUSES FAILURE
SUPREME COURT TRIAL
(By Telegraph.—l'ress Association.) CHBISTCHUECH, This Day. The trial is proceeding in tho Supreme Court of Frederick, Ashley Neale, a bankrupt, for alleged failure to keep proper books, and two charges of contracting a debt without the expectation of ability to pay. The Crown Prosecutor snid that the accused could bo described as a dealer in land. It was obvious that the slump was the main cause of his failure. When he filed he listed his assets as £18,546 and his debts to unsecured erecUrors as £10,310, leaving a nominal surplus of £8000. Actually; there- would be a deficiency of £10,000, and the dividend would be from 2s to 4s in tho £. For the accused it was stated that the assets wove in the form of land, property, and houses, the valup of which had slumped enormously. It was pointed out that the money had not been frittered away and that, tho debts were owing to builders and timber merchants.
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https://paperspast.natlib.govt.nz/newspapers/EP19311030.2.75
Bibliographic details
Evening Post, Volume CXII, Issue 105, 30 October 1931, Page 8
Word Count
168DEALER IN LAND Evening Post, Volume CXII, Issue 105, 30 October 1931, Page 8
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