EXTRAVAGANT WIFE.

New Zealand Herald, Volume LX, Issue 18585, 18 December 1923, Page 11

EXTRAVAGANT WIFE.

HUSBAND'S ESTATE WASTED.

£6000 GOES IN, 18 MONTHS.

.MAN GETS OLD-AGE PENSION. [BY TELEGRAPH'. —OWN CORRESPONDENT.] HAMILTON. Monday. An unusual story -was told by the deputy official assignee, Mr. V. H. Sanson, before Mr. Justice Herdman in the Hamilton "Supreme Court to-day when Mr. J. F. Strang, on behalf of William Wilson, cartage contractor of Leamington, applied for a discharge from bankruptcy. Bankrupt's statement showed liabilities to unsecured creditors amounting to £368 and £608 to secured creditors. The securities were'valued at £2000 in addition to which there were other assets totalling £80. The claims against the estate came to £389, but no assets had been realised.

Bankrupt in his statement, said that he had been a cartage contractor and his accumulated savings in June, 1921, were £6000. At the age of 64 he married a widow wifh four children. His assets at this time included £2600 of Government inscribed stock and Unencumbered property at Leamington valued at £2000, as well as a number of other amounts. After his marriage, bankrupt stated his wife took general control of his finances and indulged in a riot? of, extravagance. Becoming dissatisfied with conditions at Leamington she persuaded him to purchase a house in Auckland for £1125, the sum of £600 being left on mortgage. A sum of £1000 was raised on the security of his inscribed stock to complete the purchasei, the balance being spenC ,by his wife on furniture. The purchase of more furniture and clothing converted the credit balance of £300 into a debt of £300. Money Continues to go. On the company from which £he goods were 1 purchased pressing for payment, bankrupt's wife was alleged to have disposed ' of further Government Inscribed stock, obtaining £590 in addition to the £1000 already advanced, the stock being sold at far less than its market value. Instead of using the £590 to settle the debt, the bankrupt's wife spent it in other directions, necessitating' the raising of a mortgage on the Leamington property, from which the ci-editor company's account was to be paid. Even this money, which was handled by the wife, was not bo dealt with. A second mortgage was taken over a Devonport property, the company later selling this and settling their account. Mr. Sanson said that ' although the bankrupt's statement appeared unbelievable, an examination of the wife proved them. to bis substantially correct. The matter was subsequently referred to the Orovm solicitor, who stated that he had lost enough money over the matter, and was not prepared to finance further investigation. The holder of the mortgage over the Leamington property sold this under his powers subsequent to the adjudication, thus completing the disappearance of £6000 in 18 months Now penniless, Wilson had Ibeen forced to apply for the old age pension. | A " Very Foolish " Old Man. Mr. H. A. Young, S.M., said that the old man had been very foolish in allowing his wife to handle his money, but he had been perfectly straightforward and j honest His Honor said that misfortune seemed jto have followed misfortune for the old man. Mr. Strang said that was perfectly 4 true. The man who two years ago was worth £6000 was now in receipt of the old age pension. • _ * In granting the application for discharge His Honor remarked that it was a pity the wife could not be punished.