LAND AGENT FAILS

Evening Star, Issue 19002, 25 July 1925, Page 2

LAND AGENT FAILS

*♦-- CENTRAL OTAGO BANKRUPTCY A meeting of creditors regarding til® bankruptcy of Lionel Lewis Washer, a soft goods traveller, who failed after an attempt to carry on work as a land agent in Central Otago, was held yesterday, Mr _E. W. Cave, Official Assignee, presiding. Washer’s liabilities totalled £540 18s lid, in addition to £l4B due to creditors described as secured. His assets consisted of £6O book debts, and £53 worth of furniture.

In his sworn statement, bankrupt stated that four years ago he had been traveller for Messrs Sargood, Son, and Ewen. He took on a land agency on a. commission basis for three Dunedin firms, and until tho bad winter of 1923 was doing well. Two of the firms ho iiad been acting for amalgamated, and he lost their work. He started work as a land agent in Alexandra In 1924, When ho left Sargood’s ho bought a Dodge car for £450, paying £IOO deposit. Ho could not keep up the instalments. A poultry farm be had at Alexandra was not a success. He probably lost £.300 on it. Owing to sickness in his family he gave it up in 1923, In 1924 he was really more unfinandal than ho was at the present time. Since October, 1923, he had earned about £BOO, and bad wiped off most of tho old debts._ His only assets were hook debts estimated to produce £6O, and surplus from furniture £52. He could make no offer to his creditors. Following wore the unsecured creditors;—E. K. Attfield, dairyman, Galloway, £3 17s; Alexandra ‘Herald* Co., £l 16s; J. M. Brown, tailor, Dunedin, £5 10s; F. J. Blay. storekeeper, Clyde, £2 Is lid; W. Carhne, jun, butcher, Alexandra, £6 ‘.'s id; J. Hollows v, dealer. Invercargill, £ll 5s 3d; E. Churchill, runholdor, Omakau, £35; R Hewitt, draper, Alexandra, £l3( Cooke and Matthews, printers, Dunedin, £1 15s: S. R. Croft, gmcer. ilexandra, £23 19s; Gossans and Black, motor garage, Dunedin, £243; H. Hcssou, garage owner, Alexandra', £2‘) tys 2d; M. Davis, garage owner, Alexandra, £1 ]ss 6d; D.5..A.. Dunedin, £2 13s 3d;-Earl, garage owner, Roxburgh, £6 ss; Exide Battery Co., elocsiv,' .ans, Dunedin. £6 7s; L. Faigan, grocer. Miller’s Flat, £1 6s 9d; J. Gordon, garage owner, Palmerston, 10s; W. Tlidson, orchardist, Bannockburn, 12s; Lloyd and Co., greasemakers, Oamaru, £1 Is; A. MTvcllar, coal merchant, Alexandra, £ll Us 6d; W. M'Cullock, garage owner, Dunedin, 18s od; W-. Knight, oTmci’j DunGuin f 10s 9d; W. Noble, jun., garage owner, Dunedin, £l4 19s; Orr and Burrows, painters, Cromwell, £3 Is lOdj Otago Daily Times,’ £6 135,; Patterson and Co oil and spirit merchants, Dunedin, £2 6s; E. Peat, garage owner, Middlemarch, 17s (id; Samson and Co., auctioneers, Dunedin, £1 2s 2d; Kvanft Bros., Clyde, £4 11s; D. Stuart, garage owner, Lawrence, £6 ss: Stuart and Co., merchants, Dunedin, £3 14s 9dj J D. Thomson, ironmonger, Alexandra, .£2 2s lid: E. White, carpenter. Alexandra, £37 10s 4d; Otago Fame™ Co-op., Heriot, 11s 6d; and Dr Turnbull, Clyde, £23. . Bankrupt was closely examined as to the expenditure of his income. The Assignee stated that the book debts described as assets ho had found on examination to be worth, nothing at all. As to the furniture, bankrupt said it belonged to Ins wife, but ho would have to satisfy the Assignee tnat the statement was correct. The creditors described as,secured, added the Assignee, had not had the bills of sale registered, and were therefore claiming as unsecured creditors. , , . Creditors expressed the opinion that bankrupt was a keon worker, but redrless in expenditure. A motion that the matter be left entirely in the hands of the Official Assignee was carried unanimously. ’A further motion agreeing that bankrupt bo allowed to retain Ins furniture was likewise earned.