LOSSES ON COTTON.
£IBO3OOO IN ONE YEAR.
A BROKER'S INSOLVENCY
Australian and N.Z. Cable Association. (Reed. 5.5 p.m.) LONDON. Feb. 16
Fearing a capital levy Harold Russworth Bowler, a cotton broker, aged 35, admitted in his examination in bankruptcy in Liverpool that he had realised his investments and had placed £BO,OOO in the banks and in a box in a safe deposit. He never disclosed this fact to the income tax authorities. The bankrupt began his career with a wage of 10s a week, and comnienced business on his own account in 1920. He amassed a fortune of a quarter of a million as the result of successful deals. A loss of £IBO,OOO was sustained in 12 months through cotton speculations, and bankrupt now had a deficiency of £103,000. His assets are valued at under £SOOO. The meeting was adjourned.
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Bibliographic details
New Zealand Herald, Volume LXIII, Issue 19255, 18 February 1926, Page 9
Word Count
140LOSSES ON COTTON. New Zealand Herald, Volume LXIII, Issue 19255, 18 February 1926, Page 9
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