IN BANKRUPTCY

New Zealand Times, Volume XXXVI, Issue 8266, 31 October 1912, Page 2

IN BANKRUPTCY

ESTATE OF A. J. INGLE V

Arthur J. Ingley, farm laborer, Bell Block, Taranaki, bankrupt, in a written statement handed in by him to a creditors’ meeting at New Plymouth, declared:—

1 came to Taranaki in September, 1909, from Daunevirke. I was then the registered proprietor of certain properties at tho Lower Hutt, my equity therein being valued at £iou (tne amount 1 had put in). In May, 1910, 1 sold same to Edwin Fawson and his wife lor £7OO, ior which amount I took a mortgage. This 1 transferred to my brother, E. G. Ingluy, in discharge of moneys then owing by me to him and of tho further sum of £l5O paid to Mr N. King by him on my account. By an order ot tho Supreme Court mado in Palmerston North at the instance of the Official Assignee in Edwin Pawson’s estate, the conveyance from me to the Pawsons and mortgage back were declared void, and the Lower Hutt properties now stand in my name as proprietor, subject to mortgage of £2260 (to various mortgagees) and £ISOO to E. G. Ingley. The properties consist of five houses and a shop. Harcourt and Co., of Wellington, have been collecting the rents and paying interest. I have not interfered in any way since the properties became revested in mo, I hold that they belong to E. G. Ingley. If I am tho proprietor I am indebted to him. The debt to Barlow and Co. was for work done to those properties on Mrs Pawson’s instructions, and for which judgment was given against her. Lately I have also been sued for the amount and judg mont given against me. They have issued execution causing me to tile ray petition. The amount due to Paterson, Mossman and Co. is under a promissory note given by mo in 190 b to my father. I believed tho amount had been paid until sued for same this year. On coming to Taranaki 1 bought a farm at Bell Block from Mr E. Nops, paying no cash. I stocked it through Mr A. King. The £l5O paid by E. G. Ingley was on account of the stock. I sold at £1 15s per acre increase, my profit going to pay commission and sundry debts. I took out of the transaction £2O cash and three cows. I then took a farm on lease from G. Pitt, but finding after twelve months 1 was not making headway I surrendered the lease in February last. 1 took no money out of the transaction. , Since February I have been working for Mr Pitt under a milking agreement on half shares. Examined by the assignee, bankrupt said ho became possessed of the properties at Lower Hutt through the exchange of a farm at Hawke’s Bay. It was in February, 1912, he believed, that he was adjudged to be the owner of those properties, after selling them as he thought to Pawson and his wife. He did not think there was any value in the equities of those properties. With regard to the debt to Paterson, Mossman and Co., ho owed his father £2B and the promissory note was for £IOO, and was really an accommodation tor his father. Ho (bankrupt) was milking on half shares and ixpeoted to .get about £lO or £ll per month for milk. He was a married man. He had tried not to go bankrupt by paying to the Napier creditor ■is much as possible, and since the judgment had lived on about £2 a nonth.