BANKRUPT ESTATES.

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

BANKRUPT ESTATES.

VENTURES BY FARMER. A SERIES OF LOSSES* The schedule of Ernest Heni'y Hawkins, farmer ,of Otorohanga, who has filed a petition in bankruptcy, shows total debts amounting to £1697 4s 9d, all to unsecured creditors. The assets arc £194, consisting of stock-in-trade £120, book debts £70, and cash £4. In his statement, bankrupt says that on returning from the war in 1919 he exchanged land in Wellington for 910 acres of grazing land at Waitomo. Owing to the inaccessibility of the place, he found it impossible to take his wife on to the section, and so secured 60 acres within a few miles of the Otorohanga saleyards. Owing to the slump in stock, he was soon after compelled to sell the cattle at a loss, 23 were found dead, while another 30 head were lost in the bush. With borrowed money, he put up a slaughterhouse and shop. He was in this business for two years, but owing to opposition and other treasons gave it up in favour of pig-breeding. This was also a failure, so he took 40 cows on shares, but the dry weather prevented adequate returns. He was unable to pay the interest on the farm, being now 12 months in arrears.

A petition has also been filed by Alfred Curtis, millhand, oi Ongarue. The bankruptcy is a small one. In his statement, bankrupt says he started a contracting business at Taumarunui after he returned from the war. Three horses died, and the business proved unsuccessful owing to the high price of feed and shoeing,, and the unworkable state of the roads due to the wet weather. Twenty months ago he gave up business, and since then had been working in .the bush, but had been unable to clear off his debts. Alexander Luko McPhee, farmer, of Otorohanga. and Frederick William Piercie Cummins, tailor, of Auckland, have been adjudged bankrupts. The first meeting of creditors in the latter estate will be held at Auckland on Thursday, April 17. A petition in bankruptcy has been filed by Percy Arthur Hadiey, company promoter, of Auckland. The first meeting of creditors wili be held tomorrow afternoon.