BANKRUPT JOCKEY.

Hawera Star, Volume XLVII, 11 October 1928, Page 2

BANKRUPT JOCKEY.

STEVE DONOGHUE’S DEBTS. MEETING OF CREDITORS. LONDON, Sept. 26. A meeting of the creditors of Steve Donoghue, the famous jickey, revealed debts totalling £4626, including money-lenders’ claims for £1735 and £2536. The remainder included tailor’s, saddler’s and hatter’s bills. Donoghue attributed his insolvency to guaranteeing advances to others, for which he received little or no consideration. Donoghue was not present his solicitor explaining that he had two mounts at Leicester, and thought he ought to fulfil his engagements, because he proposed to liand over half of his earnings to his creditors. The statement showed bankrupt’s assets at £SOO, including two brood mares, valued at £IOO. Another £lO,000 may be added to his liabilities under a guarantee for a friend. At present Donoghue is a freelance, receiving three guineas for a mount and two more if he wins.