BANKRUPT'S ADMISSION

New Zealand Herald, Volume LXXI, Issue 21744, 8 March 1934, Page 16

BANKRUPT'S ADMISSION

" HAVING A GOOD TIME " LOSS OF £BOO ON RACES An admission, that he had spent £IOOO on gambling, and "having a good time," was made by William Thomas Beavis, of Bolwarra, near West Maitland, New South Wales, to the registrar in bankruptcy, Mr. N. C. Lockhart, in Sydney recently. It was stated that the cause of his bankruptcy was a judgment; obtained against Beavis by the Bank, of Australasia for £2130, arising from a guarantee which, it was alleged, 1 he < had given to his brother. Beavis denied that ho owed ' the money. He sf.id that ho had'owned a farm at Bohvarra, which lie had sold for £4150. After arrangements had been completed, and various debts paid, he came out of it with £IOOO to the good. He received legal advice that lie could not get out of the guarantee, and decided 'to spend the money. . > . . "1 was determined," said Beavis, "that tlio bank was not; going to get any of the money. The bank called on ine to pay, and I notified it 1 could not do so." Mr.' C. K W. Lloyd (Official Keceiver): Then you went and burst it all up at the races, just to get rid of it? Beavis: Yes, that is so. I bet in small amounts. My biggest wager was £4OO, when i backed Rogilla in the Melbourne Clip. As far as I can remember, the starting price was 5 to 1 or (5 to 1. I got about £2OOO to £400; but tlio horso lost. Replying to Mr. Lloyd, witness said that he spent about £BOO on racehorses, including bets of £25 and £3O. He backed Rogilla to tlio extent of £35 in the Metropolitan, and had £2O on Blixten. Mr. N. McGliio, who appeared for tlio Bank of Australasia, asked witness with whom he laid the bet regarding Blixten. Witness: I gave it to another chap. Mr. McGliie: Who was that? Witness: It was my wife. Mr. McGhic: You always backed horses that lost? Witness: That was just my luck. I3ea.vis said that ho had spent about £2OO in "having a good time in Sydney." Mr. McGliie: Will you swear that you have not £IOOO anywhere at all — cither you or your wife? Witness: .1 say emphatically "No." The inquiry was adjourned until March 13.