BANKRUPT TRAINER

Evening Post, Volume CXXVIII, Issue 30, 4 August 1939, Page 13

BANKRUPT TRAINER

EXTRAVAGANCE ADMITTED

When Mr. Marcus Marsh, the race* horse trainer, of Delamere HoUse, Lanv bourn, appeared for his public examination in bankruptcy in Newbury, England, last month, he attributed his position to insufficient profit, overhead expenses, extravagance, and gambling transactions. His statement of- affairs showed gross liabilities of £i 9,460, £11,086 ranking for dividend. Marsh said that he had been training since he was 20 and had 19 years' experience. In 1934 he set up on his own account. He began training with no capital, but was guaranteed £1000 from his bank. In 1934 he was fortunate in training the Derby winner Windsor Lad, and he hoped that he would automatically obtain more horses to train. He had built his table up to 34 horses in 1936. This went on for two years, and he then nego* tiated for the purchase of the Delamere stables for £3500. When asked why he purchased Delamere House, he said that he hoped he would continue to have 35 horses, but he lost some after the purchase. Marsh said that the cause of his troubles was that, at the end of 1936, 16 horses belonging to the Maharaja of Rajpipla were removed. Almost half the number of horses in his care were taken away, and he had never been able to recover from this. His average number of horses since then had been only about 20. The official receiver said it seemed to him that Marsh must be charged with extravagance, for, although there had been a loss of income by the., removal of the Maharaja's horses, ne had spent £3000 a year on household expenses. . Altogether, in' his statement of affairs, Marsh admitted losing £0000 by gambling and' by losses on the Stock Exchange.