BANKRUPTCIES INCREASE.
♦ TOTAL OF 407 THIS YEAR. OVER ONE HUNDRED FARMERS. A compilation of the number of bankruptcies recorded in the Dominion during the first seven months of this year has been made by the Mercantile Gazette. The total is 407, in comparison with 160 during the corresponding period of last year. The journal states that owing to the inflation of land values and the burden of heavy mortgages and a multiplicity of such mortgages on single farms, the bankruptcies" among fanners have been exceptionally heavy. There were in all 110 bankruptcies of farmers, and this number is equal to 27.5 per cent, of the total. In the motor trade, in which is included motor mechanics and taxi proprietors, the bankruptcies totalled 38, labourers accounted for 34, Maoris for 24, and land agents for 15. The Gazette adds that the number of labourers and Maoris who have become insolvent is due to indiscriminate giving of credit. Business people require to be extremely careful as to whom they give credit, and if this care had been exercised in the past therewould have.been fewer bankruptcies.,
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New Zealand Herald, Volume LIX, Issue 18173, 19 August 1922, Page 8
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183BANKRUPTCIES INCREASE. New Zealand Herald, Volume LIX, Issue 18173, 19 August 1922, Page 8
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