FARMER’S BANKRUPTCY.

Hawera Star, Volume XLVI, 14 July 1927, Page 9

FARMER’S BANKRUPTCY.

JAMES JOHN WALKER’S BANK-

RUPTCY

The meeting of creditors in the above estate took place this afternoon at the office of the Deputy Official Assignee. Bankrupt and his counsel (Mr. G. J. Bayley) were present, whilst the following creditors were represented: Farmers’ Co-op. Organisation Society, Ltd. (Mr. W. A. Hewitt), Newton King, Ltd. (Mr. J. Salmon). Syme and Co.. Ltd. (Mr. IV. Svme), W. A. Parkinson and Co.. Ltd. (Mr. H. Collier), J. E. Dingle (Mr. J. Rodie, junr.), R. Hannah and Co. (Mr. A. E. Shaekleton). Bankrupt’s statement showed total liabilities amounting to £3330 11s 7d. and assets nil.

Creditors (all unsecured) were asunder: Farmers’ Co-op. £2778 13s Sd, Syme and Co. £2O Us lOd, Tnwhiti Butchery £l7 18s 7d, Higgs and Go. £ls 6s, Curtis and Spragg £l2 Us. Hurrell Bros. £9, Hannah and Co. £5 3s 9d, J. E. Dingle £9 7s 7d. Parkinson and Co. £7 13s 3d, Blair and Sellar £7 3s 3d, Haivera- Gas Co. £4 Is 6d, JTallenstein Bros. £8 13s 9d, Newton King. Ltd. £l3 14s. A. Baylv £6 6s, E Evans and Co. £3 16s 6d. J. W. Yearhury £2 16s 6d. J. and J. Auld £4 Us 7d (all of Hawera), assigned estate Jos. Peters (Eltham) £lO 8s 3d. Murray and Co. £132 19s 7d, Harper and Co. £l2B 15s (both of Paramatta. New South Males). Owen Bros. (Carlingford, New South Wales) £125.

The D.O.A. said that the position looked hopeless for the creditors, and read bankrupt’s statement as follows: “I have been farming in Taranaki for over 20 years. From about 1915 to 1922 I had a leasehold farm at Ohaiigai, where I built up a pedigree Holstein herd. During this period I did well, hut on account of my wife’s serious state of health, on medical advice, I gave up mv farm and went to Australia. On leaving for _ Australia I sold the whole of my pedigree herd to one Thomas Henderson, who had taken a leasehold at Okaiawa and guaranteed him. but he was apparently unsuccessful. and on my return dn 1924 I took over the herd again, taking over his liability to the Faremrs’ Co-op., and executed in their favour a bill of sale over all mv stock and chattels. J bought a farm, W.C.S.R. lease, at Olianga.i at a high figure, and in spite of hard work I have' been unable to make headway. During the last three milking seasons I have been in receipt of monthly payment from the Farmers’ Co-op., which company received by mill; cheques. The Farmers’ Co-op. decided to realise their securities and a clearing sale was held in May last, the proeeeds from the sale of stock and the fai-m not realising nearly as much as was 'anticipated. In consequence of this I am still indebted to -the Fanners’ Co-op. in the sum of about £2750. As T have no assets, my position is i such a.s to leave me no alternative but to file, a course I am very reluctant to adopt.” Bankrupt further stated in the meeting that he attributed his position to depreciation in the value of pedigree cattle, and much regretted his inability to pay anything to his creditors.

Mr- Hewitt stated that bankrupt had always been a, hard worker and attributed ilnis failure to sheer hard luck. Mr. Fla In non suryported Mr. Hewitt. A motion to facilitate 'bankrupt's discharge', on being put to the meeting, was curried unanimously.