FARMER'S FAILURE.

New Zealand Herald, Volume LXVI, Issue 20229, 13 April 1929, Page 14

FARMER'S FAILURE.

" NOT PLAYING THE GAME." MOTOR-CAR FOR PLEASURE. DISCHARGE TO BE OPPOSED. Disastrous failures of potato crops.wore among the main reasons given for tl.e failure of Frederick Stanton Workman, farmer, Pukekohe, who met his creditors at tho office of tho official assignee, Mr. G. N. Morris, yesterday. "1 admit I have not altogether played the game," bankrupt said at tho close of his examination. Tho creditors passed a resolution in favour of opposing Workman's discharge until some satisfactory dividend had been paid. It was stated that in January of last year bankrupt was working as a farm manager for tho Bank of New Zealand at Pukekohe. Ho met with an accident, as a result of which he lost his right arm. He lost his position and received £717 compensation from the bank. Last Juno ho agreed to purchase a property of 23 acres at Pukekohe for £2250. lie bought a motor-car on tl.o hire-purchase system, but the owner seized it after ho had spent £lO5 on it Ho put down 12 acres in potatoes, but on account of disease his gross takings from them amounted to only £l2O. He estimated that tho crop cost him £SOO to plant, tend, harvest and market. A second crop he planted also proved a disastrous failure. His present position was due to the failure of his potato crops, to disease reducing his milking herd from 13 to 7 cows, and to tl.e necessity for employing labour on the farm. He had made every effort to sell the farm, but had been unable to do so. Bills ol Sale Over Stock. The schedule showed £390 owing to unsecured creditors, and £2287 to secured creditors, the estimated value of securities being £2265. Assets wore valued at £4O, and the total deficiency was £372. Tho assignee asked bankrupt why he had given bills of sale over tho same stock and property to two different creditors. Bankrupt said he gave the second bill of sale to raise money with which to pay the Farmers' Trading Company. He admitted that he had not paid the company, and that that was bad faith on his part. He admitted ho had given another bill of sale after he knew bankruptcy proceedings were pending. He had failed in not paying his debts before he left To Kuiti to take up tl.e new venture. The purchase price of the car was £240. The Assignee: What did you want a car for?— Bankrupt: I just went and bought it. He admitted it was not necessary for his business and that he had got it for pleasure. He had attended three race meetings at Ellerslie, three trotting meetings and races at Avondale, Thames and Cambridge since he had been to Pukekohe—nine meetings in nine months. He had not neglected the farm. A creditor asked whether bankrupt had not told him he had won £SO on a horse. Bankrupt: No, it was not me. It was my wife.' She won £54. and went into town and paid it out. Another time she had 10s on a horse at Avondale that paid £lO. '• Guilty ol Bad Faith." In reply to another creditor bankrupt denied that he had attended a race meeting in Wellington. When he spoke of attending race meetings he meant the complete meeting, it might be of three days. The creditor said that Workman had claimed to have won £l2O at one meeting. The assignee said that last June Workman had £717. and was owing £IBO at Te Kuiti, none of which he paid. He admitted he had been guilty of bad faith. The position was that lie had lost the £717 and incurred another £2OO in debts in the last nine months. Allowance must be made for his physical disability, but that did not excuse bad faith. A creditor expressed the opinion that Workman had not played the game. He had well-off relations behind him. Bankrupt said he had been unable to got assistance from tliem. The creditors then passed a resolution to oppose discharge.