FEWER BANKRUPTCIES.

New Zealand Herald, Volume LXI, Issue 18678, 7 April 1924, Page 12

FEWER BANKRUPTCIES.

TOTAL STILL ABNORMAL. DEBTS PROVED: £608,924. INCREASES IN SOME CLASSES. Returns of bankruptcies show that 674 persons were adjudged bankrupt in 1923 as compared with 695 in 1922, and 356 in 1921. Debtors' petitions accounted for 565 of the total number filed in 1923, while 109 adjudications were made on creditors' petitions. With the exception of 1922, the number recorded last year is the greatest since 1886 and 1887; in each of those years over 1000 petitions were filed. The assets and liabilities as. shown by bankrupts' statement and as realised by official assignees, compare as follows for the last two years:—

The Government Statistician observes that the two latter sets of figures— assets realised and debts proved^— the ones that really gauge the extent of financial embarrassment suffered in- the community. Private assignments and arrangements with creditors are not included in the above figures. The number of bankruptcies in 1923, classified according to the amount of the liabilities aa set out in the statements of bankrupts, is as follows (1922 figures in parentheses): Under £50. 19 ( 20) ; £50 to £100, 41 (41) ; £100 to £250, 147 (150); £250 to £500. 159 (138) ; £500 to £1000. 138 (160); £1000 to £2000. 96 (103); £2000 to £5000, 56 50); and over £5000, 18 (28). Classifying bankrupts by the nature of their occupations the result is; Professional. 7 (12); domestic, 29 (25) : commercial, 134 (153) ; transport and communication, 50 ( 45); industrial, 229 (190) ; agricultural, pastoral, and mining, 207 ( 226) : dependants and indefinite, 18 (44). The actual occupations which principally contributed to these figures were:—

Per Statements. 1923. 1922. Assets secured to creditors . - £888,388 £1,498,819 Assets, unsecured 368,672 344,861 Liabilities . . 581,127 675,018 Assets realised .. 124,640 126,145 Debts proved . . 668,924 834,356

1923. 1922 Farmers . . 182 197 Labourers 65 52 Agents .. 24 28 Builders . . 21 16 Storekeepers .18 22 Fruiterers . . 15 11 Contractors .. 15 17 Hotelkeepers . 14 10 Butchers 13 2 Carriers 12 11