FARMER'S BANKRUPTCY
LOW PRICES FOR PRODUCE [by telegraph—own correspondent] HAMILTON, Thursday The low prices ruling for primary produce were stated to bo the chief cause of the bankruptcy of Elrington Quick, farmer, of Taupiri, at a meeting of his creditors to-day. After the bankrupt had been examined by the acting-official assignee, Mr. W. L. Roberts, the meeting lapsed for lack of a quorum. Bankrupt's schedulo disclosed debts to secured creditors amounting to £2501, while £358 was owing to unsecured creditors. The estimated value of securities was £2155 and assets were shown as £SO, leaving an estimated deficiency of £651. In iiis statement bankrupt said ho took up the farm on his return from the war and secured a loan under the Discharged Soldiers' Settlement Act. He had received only £BB for his produce this season after orders had been deducted, Mr. Roberts said the creditors were evidently satisfied to» a certain degree with bankrupt's affairs, and he did not propose to take the matter further.
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New Zealand Herald, Volume LXX, Issue 21507, 2 June 1933, Page 12
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165FARMER'S BANKRUPTCY New Zealand Herald, Volume LXX, Issue 21507, 2 June 1933, Page 12
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