DEPRESSION DEBTS

Poverty Bay Herald, Volume LXIII, Issue 19128, 24 September 1936, Page 15

DEPRESSION DEBTS

BRICKLAYER'S FAILURE TWO YEARS ON RELIEF When George Albert Olliver, bricklayer, appeared in Gisborne itiv examination by the official assognee, Mr. J. N. Nalder, tins afternoon the attendance at the meeting comprised "the"bankrupt:, the assignee and his clerk, Mr. J. Todd, solicitor, for the bankrupt, and press representatives. The examination was brief, and served merely to confirm the position shown in the schedules and personal statement filed by the debtor. The debts in the estate were all unsecured, and were mostly for small amounts.' The list was as under:—Bell Coal and Carryinc Company, 15s; Cave Bros. £2 Is s*l; "Common, gheltoii and Companv, £2l 12s; A. E. Chaifey, £1: C. G. Crone, £1; Ellis and Bull. Limited. 14s: Gisborne Sheepfarmers Frozen Meat and Mercantile Company, Limited, £ll 6s sd; F. Hall (rent), £35 12s 6d : F. Hall and Sons, Limited, £4 16s 4d: Hibbert and Carr,Xl 18s 6d; Jury and Parry, £2 19s .6d; T. Moss and Son, £l2 9s Id- J. T. Morgan, 10s; Geo. Smith. £lO 2s 7d; N. B. Smith, £6 8s 6d; D. S. Thompson and Company. £1 12s 6d; J. Thorbum, 18s 6d; J. J. Walsh. £2 17s lid; John Ward, Ruatona, £/ 8s lid; total, £123 3s Bd. In his statement .bankrupt said: "I am a bricklayer by trade, aged 47. Some years ago I commenced business on my own account at Ruatoria. I was not successful there, and decided to move to Gisborne; this was just at tho beginning of the slump period. In Gisborne ■work in my trade -was practically at a standstill. I tried to carry on for a year or so, but matters became so diffi-. cult that I had to go on relief work to save myself and family from starvation.

"For two years I was on relief work almost continually, receiving 17s 6d to 22s 6d per week." It was impossible to meet all my outgoings, and I gob into debt. Then " I secured a position at Tokomaru Bay, where I have been earning £4 a week for about two years. Out of thi9 I have had to pay wages tax and £1 per week for rent. I have also been making an effort to reduce my liabilities, but it. is impossible to make much headway. Some creditors have-been pressing me, and one recently issued a summons. I have had a -wife to keep, and my two children, although now earning wages, were dependent on me until the end of 1935. I have no assets whatever. Such furniture and effects as are in the home are my wife's property, and, have always been treated as hers. My wife has no income or other property. I regret my position, which is entirely due to lack of earnings during the depression period." Examined by the official assignee, the bankrupt affiiined the information given in his personal statement, adding that the work on which he had been engaged lately had terminated, and he was now out "of work. He owed a total of £126 3s 8d to unsecured creditors, there being no secured debts. The- furniture in his home was his wife's property, and was insured for £2CO. It had been regarded as hers since their marriage, having been bought with money provided by the witness. He had no life insurance or anv banking account, nor did he have any investments. The assignee questioned the witness Oil the details of bis busine&s experience and his position from time to time. Witness stated that he came to Gisborne in 1932, when earthquake, repair work was fairly brik in his trade. Most of the Work he had done had returned wages only, however. The assignee pointed out that most of the larger amounts owing were for materials presumably supplied to the bankrupt in connection with his 1932 jobs in Gisborne. Witness agreed, but said he only got five or six weeks' work at that time. Only one of the debts shown in his statement had been incurred since he got the job at £4 a week at Tokomaru Bay, explained witness. He had one child now dependent on him as well as his wife. He had no prospect of continuous work at present, and if lie did get work he could see no chance of paying off any of his present debts. In reply to Mr. Todd, witness stated that the £2OO insurance policy he had mentioned covered the furniture, two bicycles, and the . effects of the whole household.

The assigned adjourned the Meeting eine die. ... ..