BANKRUPTCY.

New Zealand Herald, Volume XXV, Issue 9066, 29 May 1888, Page 3

BANKRUPTCY.

DEBTORS' EXAMINATION.

S. Whit?;. Samuel White, bankrupt, made the customary debtor's statement before the Official Assignee yesterday. He deposed that he had been in business as a contractor for about 14 years, and four years ago was worth £1000, whilst in the two following years he had cleared £2000. He purchased 54 acres of unimproved land at Avondale, and spent about £250 upon it, but had not yet received any return, although three seasons had passed. He had spent £1200 on a farm of 150 acres at Point Chevalier, which he had leased. Having borrowed £450 on the security of this lease, he and another established a wool-scouring business, which after being carried on for about one year, resulted in a loss of £200 each. He had entered upon the business of preparing manure, with the result that he lost £150 in three months. Fifteen months ago he bought a milk run, and in a short time lost £150 through a prejudice being created against milk from cows fed on land manured by nightsoil. He had also invested in other land speculations which had all proved unfortunate. His unsecured debts amount to £599 18s Id, and his available assets were : Household furniture, worth about £50; a buggy, £10 ; and a few book debts likely to yield about £14.