BOTTOMLEY’S DEBTS

Southland Times, Issue 18938, 11 May 1923, Page 11

BOTTOMLEY’S DEBTS

A DIVIDEND OF 6s LIKELY Horatio Bottomley shows a loss of nearly £70,000 as money advanced to the company at that time owning the Sunday Illustrated, according to a statement presented by him on March 9 in the Bankruptcy Court in London, says the Pall Mall Gazette. That loss he attributed entirely to the fact that he was overwhelmed with 'trouble in connection with the Victory Bond Club. Further, he claimed to be a creditor on the Victory Bond Club, which, with its associated clubs, is now in the hands of the receivers, to the extent of £87,250. He declared that a portion of this sum may ultimately be recovered, but in the existing circumstances he treats the whole amount as a loss. There was also shown an item of £15,000 as loss on the purchase and exhibition of the German submarine Deutschland.

The total' liabilities expected to rank amount to nearly £90,000, and assets £27,000, or equivalent to a dividend of 6s in the £ on the unsecured debts.

Among the creditors appear:—Mr J. S. Elias, managing director of Oldhams, £1632; Messrs Clovers, Clayton, and Co., for work in connection with the Deutschland, £3500; Sir Erik. Ohlson, Hull, £10,000; Mr J. D. Cohen, sen-in-law, £8000; Mr R. Bigiand, £1522; Mrs Bottomley, £1500; Mr T. H. Dey, turf commission agent, £3575; Mr Henry J. Houston, his late Parliamentary and political secretary, £9583; Mr Godfrey Isaacs, being balance of a loan, £3000; Colonel Grant Morden, M.P., £25,000; Messrs Strauss and Co., for champagne £200; H. W. Howard, £1728; J. and F. S. James, £2521; J. Myers, £2276; H. S. Slowburn, £500; Inland Revenue, in respect of income tax and super-tax, £4500. Bottomley’s staff, including his secretaries, clerks and personal servants, claimed for salaries and wages. There were also claims from a large number of persons who obtained judgments against Bottomley in connection with the Victory Bond Club. Among his assets Bottomley mentions two railway horse boxes, which he values at £5O, a large amount of the fittings of the Deutschland, now lying at Bottomley’s house in Sussex, and declared to be worth £2OO. Against an Egyptian cotton broker he claims £12,500. There is also a large claim against a money-lender. In the statement of his income Bottomley stated that in the year before his bankruptcy he made £40,000. He also declared that he received £125,000 for his holding in John Bull Ltd., when it was amalgamated with Oldhams Press Ltd. Later he relinquished the editorship of John Bull in consideration of a payment to him of £25,000.