HEAVILY PLUNGING BANKRUPT.

Oamaru Mail, Volume XXXIX, Issue 10671, 21 January 1911, Page 4

HEAVILY PLUNGING BANKRUPT.

I.By Electric Telegbaph—Copiwoni.J (Peu Press Association.) Received January 21, at 0.55 p.m. London, January 20. The official receiver announces that when Carpenter started business in 1870 he had a capital of £BOO, and a partner with £ISOO joined him but withdrew, losing all of it. Carpenter then styled his business "Charing Cross Bank." The present deficit totalled £169,900. Carpenter had lost £IO,OOO in a petroleum venture in Quebec, £30,000 in an unsuccessful bicycle tyre he. invented, £BO,OOO in railway ventures in Quebec, and £70,000 was" expended on options of gold-bearing lands in the Transvaal which are, valueless.' He lost £16,000 in a venture for making artificial rubber, and £BOOO in a metal polish venture. ../