SHAREMILKER’S BANKRUPTCY.

Hawera Star, Volume XLVIII, 30 March 1929, Page 6

SHAREMILKER’S BANKRUPTCY.

FARMING VENTURE FAILS. ; NO ASSETS IN ESTATE. The meeting of creditors in the banknipt estate of James Wallace Leaver, « of Mangatoki, sharemi'iker, called lor 1 Thursday afternoon, lapsed for want o-t a quorum, no ’Creditors attending. Mi O’Dea appeared on behalf of bankrupt’. The total liabilities were set down at £399 6s sd, and the only assets , were £l6 in cash, which had been banded over to the D.O.A. leaving a deficiency of £383 6s sd. The list of unsecured is as fallows:—Newton King Ltd.. £ll6 19 s 3d; Dr. Cooper (Eltham), £54 3s 6d; E R. L. Batten (Stratford) £2 i sGd , G* W. Peebles (Eltham) £11; A. H » I'Ei.tham) £3 9s; G. McGregor (Eltham') 1.4 s 7d; Dady News” (New Plymouth). 14s. 9d; T °' n T.° JeT pohera) £24 3s sd; J. O’Hagan (Eltham), £8 2s 6cl; "N.Z. PI 17s 6cl: ». H. Saunders CEflthaan.)), £9j Is Gd: Loan and Mei can tile Agency Co. (Hawera) £2O 16s 6d: K ■ Davies (New Plymouth) Farmers’ Co-op. booietj (BLaweia), j £lO2 IBs Id- "Hawera Star £l6, Leeec and Co. (Hawera), £l3 la. 10d, *°&k™t 69 to' W. statement, said £7OO in cash. With thus he 'leased a property »* 3 "|l,^ttte butter-fat returns for the Hi st y * were very poor. The property was eventually sold after two years, baiik--1 rupt losing heavily on the transaction, 1 as P be had expended a good deal on the property in improvements and build fiS Bankrupt stated that .he tad been financing through Newton Ltd Loan and Mercantile Agency 00., and the Farmers’ Co-op. Organisation Society. Since the property was sold ! bankrupt had been sbaremi’lkinig, and durino- this time there had been a great deal Sf sickness in the famty involv- ■ ing heavy medical expenses Bankrup considered his debts amounted to £3OO ot over, and lie had no prospect of crettino clear of this amount. g ln reply to the D.O.A bankrupt said be was at present isjraremilking, and his returns were approximately , £370 per annum, out of which he In ■ to pav for upkeep and ninnm o e. I penses, andpav wages to one man | whom be was compelled to employ, the . sharemilking contract upon which ho ; was at present engaged was 60 cows, l from which he received 30 ptr cent, of - the butter-fat returns . , Sixteen lambs in the, possession - bankrimt are ito be sold in the i < ■ of the D.O.A. at the first opportunity. • Concluding his statement, bankrup ; JfßWw«*» - of whom was 18 years of age. The furniture and effects of 01 five-roomed cottage- occupied by .banknipt and his family belonged to his wife and valued ait under £-50.