A BANKRUPT FARMER
THE PROCEEDINGS ADJOURNED. The Official Assignee (Mr W. W. Samson) called a sitting of the Bankruptcy Court yesterday morning to consider the affairs of John Cameron, of Manuka Island (Balclutha), farmer, who had filed a petition of insolvency. A statement of the bankrupt's position showed (hat he was indebted to unsecured creditors in the sum of £174 10s, and to secured creditors in the sum of £335. The estimated value of the securities was £550, leaving a surplus of £215 in die hands of secured creditors. The unsecured creditors were as follow:—Otago Farmers’ Co-opera-tive Association, £9O; George Tosh (Balclutha), £3O; Donald Redd and Co., £l9; Import Company (Balolutha), £l4; and a few other persons for smaller amounts. The secured creditors were:—A. Ellis, £160; Wright, Stephenson, and Co., £125; and the Otago Land Board, £SO. The bankrupt, in a statement, ssaid he ascribed his position to misfortune/suffered by reason of the flooding of the Molyneux River in 1919. He had then just purchased the lease of Manuka Island, and had a great quantity of firewood out as well as a splendid crop of potatoes. The flood took away most of the firewood and completely destroyed the potato crop. In addition to these things he had lost horses and the year’s grazing which the place would have provided. He was just pulling himself together when unfortunately an employee got drowned in the course of his work, and bankrupt was put to heavy expense with compensation and incidental expenses. The immediate cause of his filing was that one of the creditors had taken judgment summons proceedings, and he was forced to file to protect himself and the creditors generally. He woe a married man with two children. As only one of the creditors put in an appearance it was decided to adjourn the proceedings sine die in order to give the other creditors on opportunity to be present. ’
Hie bankrupt indicated ; that the best offer he could make wag one of IQs in the pound.
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Bibliographic details
Otago Daily Times, Issue 18445, 5 January 1922, Page 3
Word Count
335A BANKRUPT FARMER Otago Daily Times, Issue 18445, 5 January 1922, Page 3
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