A Judge's View of Mining Speculation.
(Per Press Association ) Auckland, May 29. At the Supreme Court in Bankruptcy to-day Judge Conolly suspended the discharge of Pierce Lanigan for two years. In doing so he said it was a very unsatisfactory case. Some years ago the bankrupt failed for £25,000, and only paid one-fifth of a penny in the pound, but the creditors thinking it a case of misfortune, his discharge was granted, and now after four years, he had liabilities of £1000, and no assets. According to his own showing he was insolvent all that time but he borrowed money and spent it in speculating on goldmines. He had do doubt he should have a crop of thesa cases arising out of goldfield speculation, which he looked upon as a gambling transaction, not a business transaction, and he should deal with them differently.
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Bibliographic details
Feilding Star, Volume XVII, Issue 278, 30 May 1896, Page 2
Word Count
143A Judge's View of Mining Speculation. Feilding Star, Volume XVII, Issue 278, 30 May 1896, Page 2
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