IN BANKRUPTCY

Poverty Bay Herald, Volume LV, Issue 16866, 1 February 1929, Page 2

IN BANKRUPTCY

BACON CURER FAILS

A petition in bankruptcy lias been tiled with the deputy-official assignee, Mr. C. Blackburn, by Arthur John Raehinger, bacon factory employee, of Gisborne, Bankrupt attributes his fanure to the loss he suffered by fire and while out of employment, and in Ins personal statement to the assignee he sets out his position as follows: ■‘ln the beginning of 1927 I was solvent and was living in a house at Matawhere and employed by the OkitU Co. In January of that, year T was burnt out and lost all my furniture and my family lost all their clothing and personal' effects. The insurance money 1 received was sufficient only 1o purchase new clothing and effects for myself and my family, and I bad to move into town aiid take a furnished house. Some months afterwards 1 left the company and for about four months I was out of employment, and during this time 1 incurred certain accounts which I have not vet been able to pay. In October. ‘1927, I took a position with the company where 1 am now employed, receiving a weekly salary of £6, and acquiring an interest in the company 1 ? 1 was able to do this hv receiving financial assistance from a family source. During the past year I have, whilst in * employment, received an average salary of £6 per week, and after paying the • household expenses I have applied the surplus amongst my creditors, paying what F could to those who pressed me for payment. At present I am living in a furnished house, paying 30s per week rent, and maintaining myself and four children, none of whom is vet working. I have no assets except an interest in the company, and a section in Dominion road, which I purchased eight years ago, and which is under mortgage, the rates and interest being in arrears. I attribute my position to the loss I suffered by fire and whilst put of employment, and also to family diffictil ties which I have had. Certain of my creditors have sued me and proceeded to execute proceedings, and for my own protection I am compelled to file.” Bankrupt owes £Bl 16s 7d to unsecured creditors, and £173 14s to se cured creditors. The estimated value of the securities fs £23 14s, and as bankrupt has no assets, his estimated deficiency is £lO5 11s 7d. He also has a contingent liability of £325, representing the balance due on 500 £1 shares taken up upon entering service with the company with which he is now employed. Bankrupt’s real estate comprises an (unimproved section in Dominion road, valued at approximately £l5O, and subject to a mortgage for £l*2o. and arrears of interest £l7 14s. The unsecured creditors are; Bignell and Holmes. £2O 11s Id; A. S. Seymour, £3 12s; L. G. Barton, £3 6s: R. Hannah, Ltd., £6 ss; H. J. Clayton. £9 8s; W. F. lies. £2 10s; C Rosie and Co., £ll 10s lid; Ties and Dudfield, ICs: Borough Council, £lO 19s lOd: Harbor Board, 9s Id; John Adair, £8 14s Sd: Trade Auxiliary Co.. £4. Secured creditors are : Burnnrd and Pull £36; and Currie and Tiffin, £137 14s.

NATIVE LABORER FAILS Being the subject of several sum mouses, one judgment summons, ant several attachment orders, Henry Ravoa, r laborer, of Whangara, has filed a pett tion in bankruptcy with the Deputy • Official Assignee, Mr. J. N. Mulder, ai Gisborne. Bankrupt owes £246 5s 4d t< unsecured creditors, this, since he ha; no assets, being his estimated deficiency. In his personal statement to the assig.net bankrupt says:— “About 1915 I took a lease of Tc Kapa 3B 4D blocks, containing about 126 acres, and 1 commenced farming this land. Just before the slump I ha< incurred a largo account with a store keeper On the const, and on this account the Native Co-operative Co. took ovei my place and assumed charge of _ tin whole thing. I was receiving very Htth except what I made by working at out .side jobs, and about 1525. at the request of the company, 1 transferred the least -.o a cousin of mine, and left the place with nothing. Since then I have beei working at fencing, shearing, and othei seasonable jobs, averaging about 14s ; day. I work at various places in the East Coast where work is available. “I am married, and have two chi. dren, the elder of whom is 14, am both are at school. They live with rela lives of mine, and 1 send money a: regularly as 1 can for their support. 1 have no assets whatsoever, and togethci with m.y wife I live with relatives o ours’ at Tolaga Bay. i attribute mj position to the fact that: 1 have been n ili-health during the past two years, and have been able to secure only irre gular employment, I have done my best To work off mv accounts*, but dunm * the past few months I have been unable to take on any kind of work, whethci for wages or contract, without beini immediately served with one or more attachment orders from my creditors and consequently I cannot _ earn an\ money for my wife and family. At tin present moment there are several sum roonses out against me, at least oni judgment summons, and l have jus! received three more attachment orders. I regret that 1 am compelled (o take this, but things are now too much against me. Mv present employmen. is on a station at Whangara, where 1 a,,x doing laboring work, fdo not know how long the job will last." The unsecured creditors are as fol low.—Tolaga Bav : A. Singe £1 18s Sd. If. R. Littlewovtii £3 Is Id, Spence Bros £l2 12s, IT. I‘. deMontall: £3l 14s bd. Colrbrook and Tin lor £l9 8s Bd. 1. Harries and Son £3 !os, estate of J. JJack £6 15s fid. J. D Thornton £24 0s 7d, Gisborne Sheepfarrners - PM. and M Co £9 5, fid. Mrs. Holmes £2, Reid £1 14s. Morrell £1 2s fid, F. Kelly 17s fid, Himene £5 ss, Dr. Weeks £F 18s fid. Rangitnkin : Y. O. Rickard £7,1 4s iOd. Tikitiki: A. L. Kirk £29 Is 9d, Rnngi Akana . Te Orikenn Eli 11s fid. Toko ream Bay: Tokomarn Farmers’ C2 18s fid. Whangara: S. Bright £4 13s 4d.