WOMAN'S BANKRUPTCY

New Zealand Herald, Volume LXIX, Issue 21345, 21 November 1932, Page 11

WOMAN'S BANKRUPTCY

OWNER OF RACEHORSES

ATTEMPTS TO BREED WINNERS

[BY TELEGRAPH —OWN CORRESPONDENT]

GISBORNE, Saturday

A statement showing that about 10 years ago she had been left £4OOO by her mother and that the sum had entirely disappeared was presented by bankrupt at a meeting of creditors in the estate of Mrs. Alice Ramsay Hutchinson. In addition, a deficiency of over £4OO was shown in bankrupt's accounts. Bankrupt stated that she had commenced breeding racehorses after her mother's death and later raced them. She invested money in brood mares, one of which, Uralla, died at her first foaling. A second mare, Bonaria, produced only one foal and a third, Heather Bush, had not produced any. She had some success with one horse, Royal Routine, and afterward sold it for £6OO.

" This misled me into thinking that there was a handsome profit to be made in the racing business," the statement continued, " but my unsuccessful attempts to breed winners, coupled with the hard times through which racing is passing, has gradually reduced rny assets until they are insufficient to pay my debts." A small committee was set up by the meeting in an endeavour to dispose of the racehorses and assets generally. The meeting adjourned sine die.