COST OF LIVING.

Manawatu Times, Volume XLIX, Issue 2672, 5 May 1925, Page 2

COST OF LIVING.

PELT GRADER, GOES BANKRUPT

A petition in bankruptcy has been filed with the Deputy Official Assignee (Mr C. F. Dempsy) by Alfred John Beken, pelt grader, of Feilding In his personal statement bankrupt. states: "I am a married man, but have no family. I have been working for the Feilding' Freezing Company for the past nine years, as a pelt grader at. £5 a week. About three years ago I purchased a house and section from the company for ft!2o, payment to be made at the rate of £lO a month for the first nine months, and £6 5/- a month thereafter. I kept up my payments until about three months ago, but owing to the heavy payment required, I have allowed my accounts for groceries and my living expenses to stand over. Hy creditors are now pressing for payment, one having obtained on order at the Court for payment at the rate of £1 a month, while others have threatened to take proceedings. 1 attribute my position to the condiions given above. ’’ Bankrupt’s total assets are shown at £SS, made up of £7O surplus in the hands of secured creditors, and £lf from furniture and a bicycle. Liabilities amounting to £l4l 16/5 leave a deficiency of £56 .16/5. The only secured creditor is the Feilding Farmers’ Freezing Company, the security for the debt of £ISO being estimated to realise £250. There are 25 unsecured creditors in both Feilding and Palmerston North, the chief ones being the Singer Sewing Machine Company, £2O. H. Hope £ID 8/1, and F. C. Hogg £lB, all of Feilding.