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Poverty Bay Herald, Volume XLIX, Issue 16042, 1 February 1923, Page 8

| A resident of Wanganui who. is .employed in the country, has had the. . good fortune to have received a legacy i amounting to several thousand pounds | from a relative in Australia. The for- ! tunate man has taken up a farm in tlie district in which he has been employed. i A special general meeting .of the \ MorrinsvfUe Racing Club was held tc* confirm a resolution, previously passed, that, the club go into voluntary liqjuday tion, the property to be handed over to the first mortgagee, Mr. Clulow. The chairman, Air. F.\ J. Marshall, speaking in connection b-ith the position of the guarantors p\ports .tho /Auckland 1 Star’s fcorrespjhclent), .said that the local bank ma\ag®r had,'recommended to the head fhc*> that the payment of the bank guaraiteekhe spread over at least two years at x kyw rate of interest. The position is briefly .'that, the club has no assets with the exception of tho racecourse property, mortgaged to Mr. Clulow, and Subject to a second mortgage to the Bank of h}ew Zealand covered by a joint and several guarantee of £4OOO. The resolution to wind • upthe club was unanimously confirmed.' '