£100 Bet To Stave Off Bankruptcy

Northern Advocate, 30 August 1938, Page 8

£IOO Bet To Stave Off Bankruptcy

John Thomas Ashton, 26, bet £IOO on a “good thing" at the races in an effort to stave off bankruptcy. But the “good thing” ran second, and Ashton’s estate was sequestrated. In the Bankruptcy Court. Sydney, last week, he pleaded guilty to having contributed to his bankruptcy by gambling, and was sentenced to three months’ gaol by Mr. Justice Lukin. Ashton, who ran a sports store at Manly, had his estate sequestrated on August 25, 1937, his liabilities being £895 and his assets £l3.

Mr. G. Lytton Wright (for the Crown) said that Ashton’s evidence at his public examination showed that he had lost about £2 a week betting. “He was living at the rate of £l6 a week, although his business only showed a profit of £9 a week,” said Mr. Wright.

“Hopelessly Insolvent’’ “He also spent about £6 a week on entertaining friends in the interests of his business. “When the business got into a hopeless position, Ashton sold it to his brother for £l5O. “He was already hopelessly insolvent so, to clear himself, he put £IOO on a ‘good thing’ in the Flying Handicap at Victoria Park, and it ran second. Mr. P. H. Allen, (for Ashton) pointed out that Ashton had started in business at the age of 21. without any previous experience. Domestic Trouble “He developed the business until It had a turnover of about £2OOO a year, with a profit of £4OO odd." said Mr. Allen. “But Ashton had serious domestic troubles and became neglectful about his business, which crashed." Mr. Allen asked, without success, that Ashton be allowed out on bond on condition that he made repayments to his creditors. Mr. Justice Lukin said he would make a recommendation that Ashton be sent to a prison farm