FORTUNE LOST

New Zealand Herald, Volume LXXIII, Issue 22391, 11 April 1936, Page 2 (Supplement)

FORTUNE LOST

GROSS EXTRAVAGANCE YOUNG WOMAN'S PLIGHT £26,000 SPENT IN SIX YEARS How a 27-year-old woman spent £26.000 in six j-ears was described at Oxford Bankruptcy Court, England, recently. She declared that she had lost £5700 in racehorse training—chiefly her own horses. Household and personal expenses of her husband and herself since her second marriage in 1932 she estimated at £11.948. The woman was Mrs. Beatrice Elisabeth Goldsmith, of The Paddocks, Sparsholt, near Wantage. Her first marriage took place at the age of 19, when, as Miss Mann-Thompson, she married Mr. "Monty" Rayson, one of the best-known steeplechase riders of his day. It was swiftly followed by tragedy, her husband dying of septicaemia only a few day 3 after the marriage. Mrs. Goldsmith's assets were stated to be £1479, and her liabilities £5187. Replying to the Official Receiver, Mrs. Goldsmith explained that she realised her interest in her grandfather's will to pay the debts of her first husband, and when she became of age she had invested capital of £26,000.

When she married again—at the time she took over The Padlock—-her surplus assets over her liabilities amounted to over £16,500. At that time she had an income of between £I2OO and £ISOO a year.

She trained her own horses, and between 1932 and 1935 she lost about £5700. She had lost £1035 in buying and selling horses, and £IOOO in buying and selling cars. She lost £BOO on one car alone.

Official Receiver: Didn't you do a considerable amount of gambling?— No.

Can you tell us what you made in gambling profits from 1932 to 1935? — I lost about £4OO last year. There were times when you won? — 1 won just under £2OOO in "tote" doubles the year before. She agreed that she replenished her bank account when necessary by soiling her investments. There can be no doubt that your present position is due to gross extravagance ?—Yes. "You were simply living beyond your means," remarked the Official Receiver. Mrs. Goldsmith added that she paid everything for her husband as he had no private means of his own. The examination was concluded.