LABOURER’S BANKRUPTCY.

Hawera Star, Volume XLVII, 26 July 1928, Page 9

LABOURER’S BANKRUPTCY.

ILLNESS AND LOW PRICES.

No creditors put in an appearance at the office of Mr.. R. S. Sage, D.0.A., this afternoon, when .the meeting of creditors was .called to investigate the bankrupt estate of Edward Augustine Mulligan, labourer of Normanby. The liabilities were set down at £3022 15s, and assets nil-. The- secured creditors are as follow: Estate R. T. Prosser (Rahotu) £4400, estimated 1 value security £1500; Manaia B. and I. Company, B/S realised £I2OO, balance of debt £200; Repatriation Department, £25. Amount® owing to unsecured creditors are as follow :—Dr. Watt- (Upunaike) £'s2, O. Trotter (Opuna-ke) £2B, Opunako Power Board £lO, Hughs-on Ltd. (Opunak©) £l4, T. S. Hickey (Opauiahe) Ci Rls. \\ :ii Hep and -Co-. (Opunake) £22. Xore-mss and Co. (O'punake) £l6 10s, Taranaki Agency £3, H. L. Spratt (Hawera.) £3 3s, Halliweil, Spratt and Thomson (Hawera) £l2 12®, J. Fever (Opunake) £2 10s, W. A. Parkinson and Jo. £l2 Ids, Fanners’ Co-op. (Hawera) ‘.'4, IV. Clements- (To lviri) £9 10-s, I'ay-or and Co.' (Eltham) £7 10s, H. Barracl-ough (Opunake). £l7, P. T. Donnelly and Co. (Hawera) £l6 10s] Joe Mansion (Opunake) £lO, A. McDonald (Gipuiiake) ,-£5, Hawera Hospital Board £8: J. 'lav-or (New Plymouth) £3O, D. Ha.rrop (Piliama) £?• total-, £297 15s.

Bankrupt submit,ted the following statement“On my jet urn from the *var in 1919. after four years’ service, f started in partnership - with, my brother, '1 Iwnvai-i Mulligan, at- Ta-ungatara r.% dairy fanners. We were financed •ii to the property by the Mana.ia, Buiild•ng and investment Company, and we •a-rried on business for a period of three year'®, and during that time the business wa,s successful. a« the- prices for dairy produce weic good.' However, at the end of that period: my brother beam. ill and left the business of itlie partnership entiiely in my Jia-nds. I endeavoured to carry on alone, but owng to the siump and decline liin dairy produce -prices, 1. found .1 wais getting 'one ideiably in. arrears. During the •after time I was on the farm I had! n .onsiderable amount of .-sickness ill mv .amily. and at one period I io-sit- the .vlniilo of ray milking plant through rln-n-d, and to carry on I was forced to ni-st-a-l a now elect-real plant, whiiieih ontailed me in con.ride ruble expense. Dura'S 1926. Line mortgagees- raxereisad the power of e-ale of the property and the battels, with the result that 1 wa.s eft- with practically nothing. I ap-pro-ached the mortgagees for the pn-r---->os® .of obtaining a reduction of tb? principal sum owing, but was nnsuc■efisfnl ina.smuch-n.s- the rate of interest would’ he raised, and' I would have obtained no advantage. During the latter period- of my occupation of the farm the rate-3 on the property were increased :p d this added further to my diff i-oul-'ies. Since .'paving the property. I have been -pressed by several of my creditoing, and as. 1 was unable to mpe-t them I am “dreed to file. lam at present in casual labour at Normanby, and a,s T aim, a married- man with five young children to keep, I uni unable to make any offer to my creditors. .1 attribute my no-n-suev r.essi in b-us'inests to the illnesis, of my brother and in mv family, to the high price paid for the farm and to the heavy decline in. the prices- for produce.’