THE BEECHAM FAILURE.

New Zealand Herald, Volume LVII, Issue 17649, 9 December 1920, Page 7

THE BEECHAM FAILURE.

NO OUTSIDE HELP. United Service. LONDON, Dec. 7. Despite the definite announcement that Mr. White, a millionaire racing man, had undertaken to pay £100,000 to save his friend, Sir Thomas Beecham. from bankruptcy, a creditors' meeting disclosed that the money was not forthcoming. Sir Thomas Beecham is hopeful of selling certain assets himself, and was accordingly given additional time.

When creditors under a receiving order made against Sir Thomas Beecham. the famous grand opera conductor, met at the London Bankruptcy Court, only six proofs of debt were lodged, amounting in all •'to £6748. Mr. Brough, the official receiver, said that a statement of affairs was filed by Sir Thomas on October 10, 1919. His unsecured creditors were returned at £58.567, and his fully-secured creditors at £10.000. The value of the securitv was £100,000, leaving a surplus of £90,000, against which Sir Thomas put partly-se-cured creditors to the amount of £55!545. On the other side of the statement there were only two amounts. " cash at bankers £18, and cash deposited with solicitors for costs of petition £500." The statement was very imperfect, and would have to be amended. The official receiver said that Sir Thomas for the past 10 years had been conducting operatic enterprises all over the country. They bad usually been run at a loss, but he bad always found the necessary funds, and but for"the death of his father (Sir Joseph Beecham), in" 1916. he would have been able to pav his debts in the ordinary course. Thomas received no remuneration for his services, and it was the pursuit of that hobby which had brought him into the Bankruptcy Court. ...