RACING MEN’S FORTUNES

Evening Star, Issue 16677, 8 March 1918, Page 6

RACING MEN’S FORTUNES

A story of the ups and down of a sporting life was related in the Bankruptcy Court at Sydney on February 20 by Lewis Henry Nathan, racehorse owner, boxing referee, and art dealer, who was examined regarding bis insolvent estate before the Registrar. The bankrupt stated that his insolvency was duo chiefly to loss of several thousands of pounds through contracts made before the war with the German Government for (lie purchase of Mood stock. For 30 years ho had not been without racehorses, and had raced under the name of “J. Birks.” When Cadonia won for him the Sydney Cup in 1913 he won nearly £5.000 in bets, and about £IO,OOO altogether. He afterwards lost largo sums of mopey on the horse, which lie ultimately sold !o a representative of the German Government named Schmidt, who bad since, been interned. Schmidt told him of the type of horse which the German Government wanted, and he (Nathan) thereupon went about looking for stock. He laid out from £9,000 to £IO,OOO in that way. but the war broke nut, and ho was left with the horses on bis bauds. He had also owned a horse named Ardima, which ho bad believed to be worth £IO,OOO, but owing to his being hopelessly involved financially, he .offered the horse to Mr Sam Hordern for £I,OOO. Mr Hordern gave him a cheque for £I,OOO. Bankrupt was able to repay only £SOO. but Mr Hordern did not want the fact of the debt to be mentioned, and said that be (Nathan) owed nothing. Then Ardima broke down, and became valueless. The examination was adjourned.