SHEEP LOSSES AND SLUMP.

New Zealand Herald, Volume LIX, Issue 18171, 17 August 1922, Page 5

SHEEP LOSSES AND SLUMP.

'".-' *——-*•..-.. - "-. . .... FARMER COMPELLED TQ FILE. NORTH AUCKLAND TENTUBE' *;' tSe:-binlwupv e?ta;to X of, Donald... Connt^,.|.^^r s . turotb, snowi*. a- surpwa - -of; asset* 'of ■*?' £416 9s v 'sd. The "total"owing to unsecured' and to secured creditors £s^6^i7s^})d," agauiat whicE there.are ; seduritfe» of aa estimated value of £6205. The> assets ara returned et £1251 ~l2a 3d, including the -£1124, In "'fbis;-'; sworn statement;,' bankrupt stated that he was farming' at Arama, Canterbui-y, rip :tb. 191$, ittawhich year he bought a farm of 376 awes at Maungatototo for^£6^2. Vi; time he had £1800 in cash arid paid £892 as a deposit on the farm, expending the remaind&P'in'stock, arid impfements. In 1917 and 1918, he had "heavy losses of Bheep, and tour: horses died. In 1919, he proposed selling the farni, but? iritervened. "His returns were; small and cattle becamet; unsaleable. Finally hjs stock and implements wera Hold Trader abill of sale; arid: Jie liad no choice' but ; to-iSle. Hie attributed his failure to losses of stock in 1917 andjv 1918 and the slump which, followed after he had retitocked at high prices. '■•-■'■"• "i' "■" i" i i«—«— J-'"'= ■■■ .