BANKRUPT AGENT

New Zealand Herald, Volume LXXI, Issue 21962, 20 November 1934, Page 5

BANKRUPT AGENT

LAND SPECULATIONS FAIL DEALINGS WITH NATIVES [from our own correspondent] HAMILTON, Monday Details of his business experiences covering the last 20 years were submitted to the Official Assignee, Mr. V. R. Crowhurst, to-day, by Denis Watkin Kirk, agent, Hamilton, who had filed his petition in bankruptcy. There were no creditors present, and bankrupt was not examined. Many of the debts were 20 years old, and their recovery was barred by the Statute of Limitations.

Bankrupt's schedule disclosed debts to unsecured creditors amounting to £llß3, and to secured creditors £1548, while other liabilities totalled £2278. The value of tho securities was estimated at £65, while assets totalled £26, including book debts £758, estimated to produce £lO. The total debts amounted to £4944, and the deficiency was £4918.

Bankrupt stated that from 1913 until 1918 he was employed as a clerk and a native agent at Whakatane. He engaged in a number of speculations in native land, and some of these proved unsuccessful. Practically all his outstanding debts for this period were attributable to this cause. E[e was in Auckland for two and a-half years, and in 1922 he went to Taumarunui, where he was in business as a native agent until 1927. He experienced a series of setbacks in business. He then tried to sell carpet cleaners in the Waikato, but was unsuccessful. Finally he bought a machine and was engaged in house-cleaning in the Waikato. A great deal of money was owing to him by natives, and was difficult to collect.