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At a meeting in Wellington of the creditors of J. D. Baird, engineer, on Monday, the bankrupt submitted the following statement: —" I attribute my present position in seeking the protection of the Bankruptcy Court (1) to the utter collapse of several companies with which I was and am connected as a shareholder viz., the Koranui Coal Company, L 1,700 ; West Wanganui Coal Company, L4BO ; Phojnix Gold Mining Company, L 24 0; Golden Bar and other Marlborough claims, L 250 ; United Importers Compauy, LSOO ; Aerated Water Company, LI,OOO ; Terawhiti claims, L 40 0; Caswell Sound Mining Company, L2OO ; other small interests in various claims and companies, Ll4O ; total, L 4.910. (2) The loss through the bank, ruptcies of Waters, Eades, Wallace, Shields, and others of the sum of LB7C. (3) The terrible depreciation in the value of both city and country lands, and the difficulty in effecting sales. I at one time, and oven now, hold large interests. As an instance of such depreciation, the reclaimed land section near the Court-house, which cost L 2.000 nine and a half years ago, was sold for the amount of the mortgage— LI,OOO. I have been trying for some time past to reduce by sales my liabilities, but have been unable to do so. The Assignee said Mr Baird had been unlucky. From a book handed to him he found that the bankrupt's receipts last year amounted to L 1,229 lis 3d, of which about L4OO was spent in personal and household expenses, the remainder being spent in calls ana other claims in connection with various companies.

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Bibliographic details

AN UNLUOKY SPECULATOR., Evening Star, Issue 7923, 3 June 1889

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AN UNLUOKY SPECULATOR. Evening Star, Issue 7923, 3 June 1889