AUCKLAND BANKRUPTS

Greymouth Evening Star, 14 November 1930, Page 2

AUCKLAND BANKRUPTS

LARGE INHERITANCE LOST. [special to “stak.”] AUCKLAND, November 14. Herbert Francis Butler, and his wife, Ethel Harriet Isabella Marriott Butler, met their creditors to-day. with a deficiency of £3OOO. In a statement, Butler said that his father, a Colonel in the British Army, died in 1918, leaving him £31,000. Part of this was represented by a mortgage of £8,500 on New Zealand farm property, and he latei* bought Auckland city property for nearly £15,000, paying nearly £5OOO deposit. The failure was caused by the loss of a large amount through misappropriation by an agent and by the slump after the war. Butler, who formerly resided at Marton (and is now living at Remuera) settled £5OO a year on his wife. Counsel for the principal creditor sought to oppose discharge until something was. paid, observing that some provision could surely be made out of this £5OO per annum. He, however, could find no seconder to the motion, and the meeting resolved to facilitate discharge of Butler and his wife.

Questioned concerning a debt for £65 to a wine and spirit merchant, bankrupt stated that this was a five years’ old liability, and no debts had been incurred since he (realised his insolvency.