IN BANKRUPTCY.

Hawera Star, Volume XLV, 1 July 1925, Page 11

IN BANKRUPTCY.

ESTATE OF C. GALLIE. Owing to the non-attendance of creditors, tiie bankruptcy meeting ol Oliarels Gallic, farm laoourer, of Otakeiio, was to-day adjourned sine die. Bankrupt’s financial position showed unsecured creditors’ claims totalling £IOO7 .Lbs Hid. against which there were no assets. ' Tire unsecured creditors were: —W\* A. Parkinson and Co., Ltd., Hawera, Hi ills; I'uimoana Dairy C 0.,. £l2 17s; p \\ . Cliinery, storekeeper, Eltbam, i;8 19s 6d; A. Copiestone, farmer, E.V chain, £ls; lvaupokonui Dairy Co., £l2 U)s; J. A. F'ettigrew, butcher, Otake.ho, £5 19s; H. J. Eaves, storekeeper, Utakeho, £4 16s; Settlers’ Loan and Deposit Co., £IO6O. Bankrupt, in a written statement, said he nad been employed by the Hawera County Counci] as a labourer until 1920. In" that year lie purchased a farm at Tiiimoana from Mr N. Hill, who had purchased from Mr J. Foy, of Hawera. He put in an equity ol £IBOO. His first misfortune was that oii.lv seven of 23. cows which he had purchased at £lB 10s a head were in calf. To get fresh stock he financed through the Settlers’ Loan and Deposit Co., Ltd., with which Mr Jas. Foy was connected. Mr Fey guaranteed his amount with, the Loan Company. The fat m proved a complete failure, and alter three years he was forced to get out, Mr Foy taking over the stock and the’ implements oil the place. Bankrupt could not get a clearance, and ho had been continually threatened with small debts. The Tirinioana Dairy Co. had sued him , for about £l2, which amount they alleged had been lent to him to purchase shares. Be had j transferred the shares to Mr Fov, but had reeeived no cash from him. Mr Foy had evidently credited the amount to bankrupt’s account. Bankrupt regretted that he could make 110 ™ er to his creditors. He was a married man with a wife and seven children. It was stated by Mr P. O’Dea, for the bankrupt that Cl all ie had gone, oft his farm about two years ago, aiicl had since been trying to “hang on.” The D.O.A. (Mr R. S. Sage) agreed that bankrupt should have filed when vent off the farm.