WIDOW GOES BANKRUPT

Nelson Evening Mail, Volume LXXI, 28 March 1938, Page 9

WIDOW GOES BANKRUPT

HUSBAND 'BIG MONEY” GENIUS ' OFFERED HOTEL I'OST (By Air Mail —From a Special ! Correspondent > LONDON, sth March. ! Lady Ray, widow of Sir William Ray, j M.P., Loudon County Council leader ami i • big money” genius, is going bankrupt foi £IBO. Her husband, who at one lime was chairman of a Government commit, tec which recommended national econo lines of nearly £40.000,000 a year, laded to economise in his own affairs and died penniless. "He never knew we had practically, nothing left in the bank when he died,” said Lady Ray tins week. "When he became chairman of the: Electrical Development Association, he had a salary of £SOOO a year hut when ill-health forced him to give that up we , found vv e had only £3OOO. "He gave me £IOOO of this; the rest was set aside to live on. I took him to the ing guests. “But things were against me. The rate of exchange was unfavourable then the strike of hotel servants crippled the whole i thing. We came back to England living on the remains of my £IOOO. Sii William lay paralysed in bed. "People have said that 1 was foolish tG file my petition for such a small amount, but at the time 1 took this decision 1 was gravely ill after two operations, and I acted without advice. I knew that Sir William had left nothing and I could think of no possible way in which I could obtain the money to pay the debts." Lady Ray has now been offered a post as hotel receptionist.