FARMER'S MISFORTUNES.
EFFECT OF FALLING PRICES, / A petition, in bankruptcy. has been filed by August '.'.■ Schultz, " farmer, oi Roto, Wanganui River. . The ; schedule shows £3480 due to secured., creditors, 'which amount is off-set by J the estimated, 'value of the . securities. /-, The amount due,to unsecured creditors is £105 ,7s 4d. ?■ There are book- debts amounting to v£B 10s, leaving a deficiency of £96 1.7s 4d. - The first meeting :■'?. of creditors ..• is fixed, for Tuesday, October 9. ; , In a statement bankrupt says that he began, farming in 1912 on a leasehold Government / section, with a capital of about £200. Litigation -with a relative caused him a loss of about £400. In 1917 ho obtained a loan on the farm to enablo him to purchase it. During' the last few seasons 'that followed. ho was unable to " make good " 'owing/to the fall in prices. Proceedings \' Were • taken > against him for certain debts ./and:. the ; mortgagees also were taking re-entry' proceedings, and thus it* had become impossible. for him to continue on the farm. . ' .-.•".- '•' ' "" — - ".■ !•- - V ■ - '!•:'" . " ■■■■■
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Bibliographic details
New Zealand Herald, Volume LX, Issue 18518, 1 October 1923, Page 5
Word Count
172FARMER'S MISFORTUNES. New Zealand Herald, Volume LX, Issue 18518, 1 October 1923, Page 5
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