BANKRUPT FARMER

Poverty Bay Herald, Volume LX, Issue 18163, 10 August 1933, Page 4

BANKRUPT FARMER

“UNSATISFACTORY POSITION” COMMENT BY COUNSEL A remark to the effect that the bankrupt had been living on other people was passed by counsel at the conclusion of the meeting yesterday afternoon of creditors in the estate of David Munro McGuire, of Hicks Bay, dairyfarmer. This comment came from Mr. G. Bradley Smith, who appeared on behalf of Mr. W. Graham, a creditor who had not been mentioned in the statements filed by the bankrupt with the 'Official Assignee. Further examined) yesterday afternoon, tho bankrupt stated in answer to a question by Mr. Smith that creditors had been pressing him, and it was for that reason that he filed Ms petition. Ho did not go into any other property after leaving the •farm in 1929. Before that, however, he had worked an adjoining 'property of 500 acres belonging to Dr. Wi Repa, who had told him that ho could use the property if he .paid the rates. Mr Williams was aware of that arrangement, There had been no written agreement between witness and Dr. Wi Eepa. The arrangement made with Dr. Wi Eepa was made about three or four years after witness went into the other property. Times were good then. More than half the 500 acres was broken iff, and the rates amounted to about £45 a year. Dr. Wi Eepa knew that witness was being financed by Mr A. B. Williams. Dr. Wi Eepa was not a partner of witness.

Mr Whitehead mentioned that Dr. Wi Eepa had twice sued McGuire. Mr Smith: Did you have an earmark on the property?

Witness: Yes. Was that the only earmark you used?—Yes/

Did your wife have an earmark? — Yes.

'Was that used on the stock on this property? —No. You admit going into a house of Mr Graham’s at Hicks Bay in June, 1929? —Yes.

And you have been there over four years, and all you have paid him is £22?—Yes.

j 'Have you a motor car?— : No; and nttver did have.

j I suppose that belongs to your wife? '—Yes.

i ' .Has your wife any interest in native lands?—Yes.

'Was this earmark registered in your wife’s name used on the sto'ck running on Dr. Wi Repa’s property?—No. When you were on this property was Mrs McGuire engaged in dairying?— No.

That being so, can you tell us why she wanted an earmark at all?—She had a property of her own. The assignee: Can you tell one why it 'is, if you never owned a car or a truck, Messrs. Bignell and Holmes 'charged this amount of £2O to you?

Witness: Because it was I who ordered it. It was for ityres. Witness said that in preparing' his statement he had overlooked the debt of £230 to Mr Graham, but he did not think he' had overlooked any other debts. He held no dairy shares, and •had no life insurance, his policy having run out several years ago. He had had a Post Office Savings Bank account many years ago, but it had run' out. j .. • This conducted the examination, and tho meeting was adjourned sine die, the assignee remarking that it would ha vo been better if the bankrupt had filed his petition very much earlier. Before the meeting dispersed, Mr. Smith commented that it appeared that the bankrupt had simply been living on other people for several years, and tho position was most unsatisfactory. The assignee, Mr J. N. Nalder, agreed that the position was unsatisfactory, but mentioned that the bankrupt’s passbook, which lie would take steps to secure, might possibly clarify the position.