BANKRUPT CLERK.

New Zealand Herald, Volume LXVIII, Issue 20924, 14 July 1931, Page 11

BANKRUPT CLERK.

DEFICIENCY OF £263. • OFFICIAL ASSIGNEE'S COMMENT. " The bankruptcy appears to be due partly to extravagance on the part of debtor and perhaps more to foolishness, stated the oilicial assignee, Air. A. W. at a meeting yesterday of creditors of James Murphy, clerk, of Auckland. " The case could be met by opposlni? bis discharge for some years." Bankrupt's statement showed £283 °wing to unsecured creditors. His only asset was furniture valued at £2O. Bankrupt said ho was married, with Ve children, and until about six yeiirs a &o had paid his way. He had been insolvent since that time and had been borrowing money from a moneylender. About half of his present del its had been incurred in the past 12 months. He had aK a^en ded race meetings for a year, he had frequently done so some ? ( ' ars a go. He had been assisting memo's of his family when he could ill-afford " w j'ile he had given a loan company j Cur . l '-y on certain furniture mentioned , his late mother's will. He had not • B aware that this property belonged k his father. e Meeting was adjourned sine die.