WELL – BORER'S FAILURE.

New Zealand Herald, Volume LX, Issue 18468, 3 August 1923, Page 12

WELL - BORER'S FAILURE.

SURPLUS SHOWN AT £1353. [BY SELKGItAr-H. CORRESPONDENT.] , v; HAMILTON, Thursday, c ' : James Robert Bodley, a.well-borer,' of Morrinsville, who recently filed a petition! ,■; in bankruptcy,, in a statement submitted. ..:': to the deputy-official assignee, Mr. V. H. < Sanson, 1 said that /he . had .been well-boring ' rj;-,.. for , three years. Operations were fairly '-' successful for 18, months when the effects ,&: of the depression in /dairy produce re- ,*,; acted strongly on his business. When tiia > plant was' taken to the Walton district operations , were, liot a; success owing to the difficult , nature of : the country, " and , no payments were ' received, as the work ■!■'-■ was under a guarantee of "no water, no . . pay." Bankrupt had• other work to do. , / in the Morrinsville district, but owing to /' ; : the condition, of the : roads" he wasunabla ' to shift the plant. . -' ;; "Unsecured v creditors '. were shown- a'V , £953; secured creditors, £2718 . ana .*■ ■ <: assets,' £1151; the surplus - .' from securi- ,-: ties was givftn as £1122. There was thus, . ,1 an: apparent- surplus in the estate •of >;• £1353.. , . . ' * A meeting of creditors will be held at, ';> Morrinsville. on /Monday. '■■■■!%, r , . *-';>';