CAPTAIN BAIRNSFATHER.

Manawatu Herald, Volume LIV, Issue 4415, 8 November 1934, Page 4

CAPTAIN BAIRNSFATHER.

DISCHARGE IN BANKRUPTCY.

Captain Bruce Bairnsfather’s financial affairs were discussed in London recently when flu application was made to jMr Registrar Mcllor at the Bankruptcy Court for an order of discharge on his hehalf. Mr Bruce Park, assistant official receiver, reported that the unsecured liabilities amounted to £14,823, the assets had realised £134 and the trustee, Mr R. F. W. Fincliam, had received a further £177, chiefly representng payments by the debtor out of his earnings since the failure. The debtor was gran fed a commission in the Warwickshire Regiment in 1914, and was demobilised in 1919 with the rank of captain. During the w r ar he supplied sketches to newspaper and in 1919 he entered into a contract to draw sketches for two journals and to edit another for five years at a salary of £3OOO a year. In 1921, owing to the papers changing hands he agreed to the cancellation of his contract, which then had about three years to run, and for so doing ho received £I,OOO Captain Bairnsfatlier attributed his insolvency to loss of about £B,000 on the production of a revue entitled “’Ullo”; to lack of remunerative employment; and to heavy claims for income and supertax. Mr .7. W. Goldman, who appeared for Mr Fincliam, said he was instructed to say that, owing to the general conduct of Captain Bairnsfather, the trustee would be pleased if only a short suspension of the discharge was imposed. Wien the receiving order was made the debtor announced his intention of paying as much as possible to his creditors, and through solicitors he entered into an agreement to pay £2O a month for five years from his earnings. That agreement had been faithfully and honourably carried out. Mr W. N. Stable, who represented the debtor, said that his client proved a “gold mine” to the newspapers for which he worked during the war. It was understood that the producer of “The Better ’Ole” made £IOO,OOO profit, the production being one of the most successful ever staged. Captain Bairnsfather, in accordance with the terms of his agreement, received £2OOO as his share of the profit, and thinking that the revue “Ullo” would prove! just such another success, he decided to produce it for himself. Unfortunately, instead of making £IOO,OOO, he sustained a loss on the production. His Honour remarked that Captain Bairnsfatlier had contributed very largely to the gaiety of nations during the very serious period of the war. He granted an order of discharge subject to suspension of 14 davs.