BANKRUPTCY.

New Zealand Herald, Volume XXV, Issue 8988, 28 February 1888, Page 6

BANKRUPTCY.

Charles Pve was examined by the Official Assignee yesterday, and said : —I have been farming in the Pakuranga district for the last 28 years. The land I have occupied for the last 16 years (up to 15 months ago), consists of 42 acres, and belongs to my father, who allowed me to occupy it rent free. About 15 months ago I handed thefarm over to my son, with all the stock, implements, and produce, including the household furniture and everything on the place, in consideration of his paying me £20 a year for six years, under conditions as set forth in the deed which I will produce. My son advanced me about £40, and I went to England to see my father. After an absence of eleven months, I returned to the colony last November. On my arrival several creditors summoned me. Last Friday I was to have been committed to gaol on a judgment, and filed in order to escape. Prior to my going to England I was badly crippled by heavy losses, and was in debt to the amount of my present liability namely, £410 15s (id. The object I had in going home was to raise money to pay off these debts, but I did nob succeed. My father, who is now 85, may or may not be inclined to help me in the future. He refused to do so when I was in England. All I have is under lease to my son for six years —from February 22, 1887— which I am to receive £20 a year, and have already. had two years pay in advance. My son is not in a position to buy out my interest, and therefore, I cannot see my way to do more than hand over the remaining four years' rent as it is paid by my eon. , ,