BOXER’S FAILURE

Poverty Bay Herald, Volume LXI, Issue 18397, 15 May 1934, Page 10

BOXER’S FAILURE

LIGHTWEIGHT CHAMPION MEETING OF CREDITORS Having filed ii petition in bankruptcy recently, Joseph Laurence Franklin, of Gisborne, holder of the New Zealand professional lightweight boxing title, attended a meeting of bis creditors yesterday j|o -explain the circumstances leading up to his failure. The meeting was presided over by the official assignee, Mr. J. N. Nalder, and Mr. E. E. Brosnahan appeared on the bankrupt's behalf. The creditors present or represented were J. Bradley and the Cook Hospital Board (Mr. G. W. Willock). The bankrupt’s financial statement showed that he owed £132 19s to unsecured creditors, and had no assets. The assignee read to the meeting the following statement made hv the bankrupt : ■‘Early in 1929 I injured my ankle, and as a result was confined to hospital for aho.ut five months, and subsequent to this I was under treatment on and off for a further 15 months. During this time, and for a further few months, 1 was unable to do any work. My mother then sent me to a specialist in Sydney to try to effect a cure for my ankle, which was only partially successful. In August, 1931, I broke my other leg as a result of a collision between the car in which I was travelling and another car, and I was again laid up for some months. “I was only able to commence work again during 1952, and between that date and the beginning of 1953 I hat' six months’ work. I then became unemployed, and have had very little work ever since. Consequently 1 derided to try to keep myself by turning my amateur boxing to professional account. By this method 1 have not been able to keep myself, much less reduce the debts which have accrued against me. As soon as 1 had had one or two fights my creditors commenced to press for payment of their accounts, and two creditors have now. obtained orders against me upon judgment summonses, and as I am unable to meet the amounts owing ]. have been compelled to tile my petition.” Under examination by the assignee the bankrupt gave details of the purchases and transactions which his debts represented, and explained the circumstances in respect of the injuries to bis ankle and other leg and the treatment he received. Continuing, the witness stated that ho took up professional boxing seriously in 1932, and produced a record of his tights since then. The first contest was at Te Karaka against McKay, from which he received £7 net. The Masterton contest came next, and that was for a purse of £5, against which expenses for travelling and hoard amounted to £l2 10s. The loss in that case was borne by bis mother. In January of this year he had a contest in Dunedin, and received a purse of £5 2s 4(1. On February 19 witness fought in Napier, for a purse of £l4, and lie had had to defray his own expenses, which left him a net amount of £6. On March 5 he fought in New Plymouth, and received £27 Is 6d. Expenses amounted to £23 12s. On March 24 there was a contest in Westport, arid the amount he received was £32 10s, while expenses totalled £22 Bs. From there he went on to Greymouth, where he was to fight Fitzgerald. There was no contest, however,- expenses in that case amounted to £5 2s 6d. On March 12 for a Wellington contest he received £37, and expenses totalled £24 18s. There was another Napier contest on April 16, against Donovan, and witness’ share, of the purse was £2O. The assignee remarked that, without taking into account the fights in respect of which he had made a loss, the bankrupt had received £37 14s lOd. “So that there apparently isn’t much to be made out of boxing,” added Mr. Nalder.

The bankrupt stated that he had no fights in prospect. He was a single man. Witness stated that he was unable to tight, having injured his back in the last contest and been advised by the doctor not to commence training for at least two months. He was unable to make any offer to his creditors. Cross-examined by Mr. Willock regarding various items of £4 shown as pocket money in the expenses for different fights, witness- stated that occasionally lie had had bets on the result of the contest. He had about three bets on contests in which he had taken part, but was not in the habit of betting on other contests. Witness did not bet on horse-racing. Further cross-examined by Mr. Willock, Franklin stated that after the accident in which he injured his ankle a benefit boxing tournament was held, and from that lie received about £56. He was unable to fight, and used the money to go to Sydney to have his ankle treated. Witness did not actually receive, the money personally, it being banded to bis mother. At the time he was very ill, and was in danger of losing his leg. Witness was in Sydney for about three months. The doctors there bad all been paid; he could not remember the amount of the fees, as he did not pay them personally, the money beiim sent over to them.

Mr. Brosnahan explained that Mrs. Franklin had made all the arrangements, and hud kept the bankrupt for tho five years during which lie was unable to work.

To Mr. Brosnahan, Franklin stated that he had been advised not to undertake the last contest in which he took part in Napier, and had returned to Gisborne very ill. Franklin, iji reply to Mr. Willock, stated that he owed his mother a great deal of money.

The assignee remarked that he was rather astonished that tho earnings of boxers were so small. “I always thought it was a profitable business,” lie added.

“It was at -one time,” said tho bankrupt. This concluded the examination and the meeting was adjourned siuo die.