A DAILY OCCURRENCE

New Zealand Times, Volume LIII, Issue 12504, 21 July 1926, Page 8

A DAILY OCCURRENCE

STATEMENT BY BANKRUPT

HUNDREDS LOST AT A RACE MEETING. Per Press Association. AUCKLAND, July 20. A statement that heavy betting was the cause of his bankruptcy was maclo by Arthur Henry Sherwood, when examined to-day by the Official Assignee. The meeting of creditors, which had been adjourned from July 14th, lapsed for want of a quorum, but the bankrupt was questioned at length by the Official Assignee, and Mr A. It. Davis, representing a creditor. Bankrupt, who had kept a boardinghouse at St. II die r’s Bay, said ho had not attended the previous meeting because he had not received notice. Replying to a question by Mr Davis regarding a section lie had owned, bankrupt said he bought it for £IOO and sold it to his wife. Speaking of his betting transactions, bankrupt said he invested one amount of £3OO at Te Rapa (Waikato), and this he lost. He admitted that he went to Sydney. “We went to attend the races, ” ho said, “and lost a good deal of money.

Mrs Sherwood was also examined. She said she bought a section from her husband when he was short of cash. She did not remember how much she paid for it She and her husband, before going to Sydney, had lost a good deal in bets at different race meetings, and she had only only £290 when they went to Sydney. They attended the races at Kandwiek.

In reply to the Official Assignee, Airs Sherwood said she could not rtTnember how much both had lo6t since a judgment was obtained against them. The Asisgnoe : Do you expect us to believe that strugglipg people like you will spend hundreds of pounds and not be able to account for it? Mrs Sherwood replied she could not remember. She added that betting was an everyday occurrence with her. Sh. had been brought up with horses. Mr Davis; Jt, is useless going any fur ther. He added that steps might have to be takeu to hold a public examine tion.