EARNINGS REDUCED

Evening Post, Volume CXVI, Issue 19, 22 July 1933, Page 15

EARNINGS REDUCED

HARBOUR BOARD HAND

MEETING OF CREDITORS

A mooting of creditors in the bankrupt estate of Edmund William Hodgson,.a Harbour Board casual employee, was hold yesterday, the Ofiiciul Assignee (Mr. S. Tansley) presiding.

The bankrupt's financial statement showed'a deficiency of £948 10s 2d. Unsecured creditors were shown at £99 Is 2d, the principal creditors being tho Collector of Bates (£33 6s lOd) aiid Dr. C. E. Childs (£32 10s). The principal owing under a first mortgage was £524 18s 2d, and under a second mortgage £324 10s lOd.

In his sworn statement, the bankrupt said that ho was a married man, with one child aged 17, and was a shed hand. He was paid'at the rate of 2s an hour, and his average earnings had been about £2 10s to £2 15s a week. A number of years ago his wife had bought a house property in Adelaide Eoad for £1420, paying a deposit of £170 and giving, two mortgages, ono with tho State Advances (Mcc and another with the vender. Under the second mortgage his wife had covenanted to pay £2 5s a week to cover tho outgoings on both mortgages. Ho had guaranteed tho payments, his earnings at that time being from £4 to £5 a week. Payments wore maintained regularly for about tho first six years, but gradually, as a result of the "depression and its effect on shipping, they fell into arrears. Tho rates had been owing since 1929. Application was mado for mortgagor's relief, and the payments wore reduced to £1 a week. In 1931 his wife had undergone an operation which resulted in heavy medical expenses, and last February she suffered a nervous breakdown and was in hospital for three- weeks. Since then she had had to have further medical treatment. As his employment varied he was unable to make any offer to his creditors.

The bankrupt, who was represented by Mr. W. P. Pringlp, said that he was giving up the Adelaide Koad house that day, and was taking lodgings. If his position improved ho would be only too willing to pay something «f£ his debts. The meeting was adjourned sine die.