EX-MILLIONAIRE’S LOSSES

Greymouth Evening Star, 14 December 1935, Page 4

EX-MILLIONAIRE’S LOSSES

BANKRUPTCY EXAMINATION. LONDON, November 23. Sir Arthur Du Cros, the pioneer of the pneumatic tyre and former millionaire, who lent, Craigweil House for the King's convalescence, disclosed in his public examination in bankruptcy that his position was due to a judgment for £4OOO obtained by a former fiancee. Sir Arthur Du Cros explained that he agreed in 1926 to pay her £2OOO a year, and her mother £5OO. Later, the former fiancee married, but her husband did. not support her, and consequently he supported both her and her family until she went abroad in 1933. She returned in .1934 and demanded £4742, accrued arrears of in-; come, although he had paid her debts and made her advances to the extent of £26,000 in excess of that amount He added that he was divorced in an d married Ilis P r esent wife in

Pioceeding, he said his’income from 1912 to 1918 amounted to £30,000 a year, and he had possessed £1,000,000 in 1918. The Du Cros group lost £950,000 in the Hatry crash, of which he and his family lost £600,000 He gave his family £255,000 between 1919 and 1929, and expended £115,000 Giaigweil House and other properties. He lost £BO,OOO on a yacht, and his investments depreciated' bv £535. 000 between 1919 and 1929. ‘His liabilities were £84,218 and his assets £ 27,046.

to the “Daily Express,” oil Aithur Du Cross former fiancee was a Miss Birbeck, to whom he became engaged in 1923. It vas broken otf in 1926, and she afterwards Hed Anthony Leloir, of Buenos Aires.