FARMER'S BANKRUPTCY.
LOSSES AT. TE AWAMUTU." The slump in the prices of stock, and wool, the. high cost of breaking in , unimproved land, and the fact that he held too - much land, are the ; reasons for his bankruptcy 'I -given- by i : Harold : Colirr Speedy, farmer, of Te i Awamutu, who has filed his petition. In a . statement ;to the Deputy Official Assignee in Hamilton, > bankrupt says that in 1913 ; he purchased 1473' acres': of land at Wharepuhunga, . paying a deposit of £551. He ' later/ purchased %an i adjoining ; property of > - 1145; acres, and paid v£2290 •; in•'% cash. : He ; ; hoped to receive a k share. of : his i father's; estate and ho carried on both properties for a time, " but was unable to get X; the money he expected. The slump in stock, woql, • and mutton 'came. rHe - tried - to sell, but could not do ; so. jv. The ' %mount . owing to : unsecured creditors 4is ; £5149 13s i 7d, ; and the : assets, I; consisting of a, share; in his ; father's estate, total £2450, leaving a deficiency of. £2699 13s 7d. :
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Bibliographic details
New Zealand Herald, Volume LXI, Issue 18707, 13 May 1924, Page 10
Word Count
179FARMER'S BANKRUPTCY. New Zealand Herald, Volume LXI, Issue 18707, 13 May 1924, Page 10
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