HARDING'S BANKRUPTCY.

Stratford Evening Post, Volume XXXIV, Issue 95, 17 December 1912, Page 5

HARDING'S BANKRUPTCY.

EXAMINATION OF DEBTOR

At the meeting of creditors in the estate of James White laarAng, at hawera, on Friday, at die office of the D.0.A., tne bankrupt was examined by Mr. Spence, and m answer to questions he said: la the statement submitted to my creditors oh .November 21, 1912, 1 snowed a sum of cl 00 for wages, rent, rates and taxes. 1 since hud that this

amount should he considerably increased. W ages should also have been shown to G. at. Goble £4i, .a, Goble £3O 13s, 11. Goble £lB 3s, a. Hignetc £3 ss, C. Smith £7 IDs, A. C. Man - , jun., £2 ss, J. Fawkner £3, A. Barlow £OO. These amounts were omitted from my statement to a private meeting, he also had omitted Lorn ids statement £9O to G. Smith (icnt), and Mrs. J. W. Maiding (rent), tne amount of which had not been made up to date. Mr. Spence: Tell us what items totalled approximately £IOO. Bankrupt: 1 could not. The names 1 took into consideration when assessing the £IOO were Barlow s men, Casey, and Casey’s men. Mr. Spence': This was all?

Bankrupt: Fes. Pressed further, bankrupt said he thought he took the_ nurse’s wages into consideration, £7 10s; also tne rates of the Tariki farm. .Replying to auotaer question, banknipt said he had been in business in Australia since 1911.

Mr. Spence: Who is your partner there? Bankrupt: ’William Thompson, formerly of Patea, but now residing at Brisbane. Tne business is run under tne name of J. W. Harding and Co. The last communication iroin Mr. Thompson arrived about three weeks ago, and he would produce it if ho could. He had put £9UO into the Australian business. He had received no balance-sheets, Mr. Spence What do you think is in that Australian business now? Bankrupt: I have not the slightest idea. , ,

Mr Spence: Have-you ever ask.d for a statement or balance-sheet? Bankrupt: No. Mr. Spence: Have you ever known the position of it ?

Bankrupt: No. Mr. Spence: Have you over tri.d to find out i Bankrupt: No. He added he was leaving on November 1 last for Australia to look into the business. He could not go on account of having to attend his business here. Mr. Spence: Mr. Harding, Have you always Kept regular and proper nooks of jour business transactions ? Bankrupt: Tes, Mr. Spence: Sufficient to set forth your business transactions and to sho.v your financial position from time to time ?

Bankrupt: Yes. Mr. Spence • Did you ever take out balance-sheets? Bankrupt: ios ; sometimes. I have goc some of those balance-sheets in Hawera. Mr. Spence: How many, do you think ?

Bankrupt: One or two, or two or three. He added that these could be produced. Mr. Sellar: 1 will produce everything I can get. Mr. Spence : There was £l4O in hand mentioned in your private statement? Bankrupt: Yes. Asked what had become of it, bankrupt said he had spent it. He had to pay for defending Weddell’s claim. The £l4B was W. H. Young’s cheque, and he said he received it about a fortnight before his private meeting. As soon as he cashed the cheque he paid Mr. Allison, of Wanganui, an amount for Treadwell, Raymond and Stringer. He gave details of a few other smaller amounts spent.

The D.0.A.: Will you swear that no payment of importance has been omitted from your statement cf the distribution of the £148?

Bankrupt: Yes; to the best of my belief. He added that he had a list of what he did with the money. (The list was obtained and produced). Bankrupt said he had receipts for all the payments therein contained, except 10s 4d belonging to Mrs. Harding. The statement referred to the whole proceeds of Young’s cheque. When he received Young’s cheque he had no money whatever in hand, fcince he received Young’s cheque he had received £22 odd from the Auckland Freezing Company. _ / Mr. Sellars said this money was in the hands of Mr. R. Sage for the D.O.A.

Mr. Spence: When was the marriage settlement prepared, before or after the marriage? Bankrupt: Before I was married. Mrs. Harding gave the instructions to Mr.’Allison to arrange for the settlement. Debtor was present at'some of the interviews.

Replying to further questions by Mr. Spence, bankrupt said lie hud a house burned on the farm at Norfolk Road, and the insurance money was being used for re-building. The amount was about £4OO. Mr. Spence: How many bank accounts had you? Bankrupt: 1 had my own bank account at the Bank of New Zealand, Inglewood; a banking account in my own name in conjunction with one Oliver at the Bank of New Zealand, Hamilton ; an account at the Bank of New Zealand, Palmerston North, in the name of Priest and Harding; an account at the National Bank, Palmerston North, in the name of Casey and Harding; an account at the Bank of Now Zealand, Inglewood, in the name of Casey and Harding. He also had an account in the bank at Brisbane. There was an agreement with Casey, a copy of which he could got. There was no written agreement with Thompson. Ho bad not had a penny from Australian business, with the exception of travelling expenses over there. Surrey, Oliver, Barlow, Priest, and Casby were all on wages. Mr. Spence: Have you paid any of these men latelv? Bankrupt replied in effect that these men bad drawn their moneys through the banking accounts. Mr. Spence: Have you paid Mr. Surrey anv money latelv?

Bankrupt replied that lie had not paid Surrey anything for wages for eighteen months, hut lately he had paid him £3O for stock. There was another sum of £2 10s paid through the X.Z. Loan and Mercantile Agency Co. Within six months he had paid no other money to Surrey. Xo payments had been made to Barlow. He used to get balance-sheets from Priest, Casey, and Barlow. These would he produced to the Assignee. Answering other questions, bankrupt said Ins wife was in fairly good circumstances when he met her. He had made the settlement on her because lie thought this was proper and in order that she and the f wn children should not he in want. He was then in a good position. He had shown his wife as a creditor for £;3I for rent of the Xnrfolk Road farm tip to .November 30 last. There was no other money owing to his wife cm any account whatever. Mrs. Harding purchaser! furniture for the Princes Street house, and she paid for it. He had paid two cheques, totalling £23, for Mr. Snence: What is the value of

the rest of the furniture in tin house? Bankrupt: 1 have not the slightest idea He had seen some of the receiots for the furniture in tiie nciise in the name of Airs. V. S. Harding. Bevoncl travelling, personal and household expenses he bad not paid any money whatever to or on account of his wife. His wife had an account, at the Tost Office Savings Bank, Hawera.

Replying to questions as to expenses on' his various farms, bankrupt said he could not remember wliat amount had been expended during tin' past three years. Ij> to three or fur months ago all exp ns s in ( o ilmen,m with the Norfolk Road farm were mud by Barlow out of the banking account. but ho could not say what amounts were paid. He paid Mis. Harding 15s per acre for 503 acres 3 roods (but there was nothing m writin.o on condition that Mrs. Harding looked after the children and thej lived with him and had anything thej wanted. The whole of the rem went to Mrs. Harding, and she expended u in the manner stated. This was under an agreement between himsell and hi.-, wife. , . Mr. Spence:_ AV hen was this agree merit entered into? Bankrupt: 1 cannot say. But no period was mentioned. Mr. Spence: You cannot say even approximately how long the agreement between jourself and your with

Has been existing. Bankrupt; Yes; I can say approximately—between one montn and /eighteen months. He added: Mit,; ' reierence to my answer 1 desire to saj that Mr. Spence insists upon me tell in.o- him approximately when, my. oil and my wife made these ariauge incuts." I cannot remember this, and to satisfy'him I say it is-from a month to eighteen months.” Proceeding with the examination, the bankrupt answered that he t, ought tne rent was to be paid to Mrs ; Ha.d ing quarterly. He tiid not thins th re Had been anything spent on tiie la.ik. farm during the last twelve months. Ihe damages mentioned in his state irvent to Mason amounted to £139, o. which lie had paid £SO. Mr. Spence: Since your marriage, what statements of jour po ition havt \ou given to your creditors? Bankrupt: 1 have given two statements so lar as I remember. to Mr Hewitt (manager of the N.Z. Loan and Mercantile Agency Co., at Stiatford), the other was only a sort of a statement to Mr. Carey, Hawera. Six years ago (about) J. gave a statement u) the uaiuv of New Zealand, Inglewood. Aoout twelve years ago 1 gave a statement to the Bank of At,,, asia, New' Plymouth. .nr. Spence: \v ill you swear that since your marriage, beyond what you nave sworn to, jou have not given any statement whatever of your position, either verbal or written, signed or unsigned, to any person, partnership, corporation, or mink? jxitikrupt; Wo, As lar us 1 can re momoer, i have given no other sta.e ment.

bankrupt added: There was a con versation between Mr Gillies am myself which he (Mr. Gillies) said was a statement, and which 1 say was no. a statement. Mr. Spence: Are those the only statements ?

iwuumipt: Yes. Mr. Spence then questioned the bankrupt aoout a sum of S.2UUU urawi out in only, 19i2. Fie asked uturn that was for. Bankrupt replied that this was i temporary, loan, as the bank would no. increase his limit. He had a lot o, stock, but he desired to hold tins, a; he tnougnt ho could make more inone. ny keepag tiie animals. Hie £2do. was a repayment or a loan on Mam. Hutu, 1912. Mr Spence; At March 26th, 19x2 when jou borrowed the £2UUU, woi\ you bong pressed by anyone? Bankrupt: ies. Mr Spence: By whom ? Bankrupt : The Bank of Now Zea land, Inglewood, but not more that, usual. The manager asked me u reduce my overdraxt on account o the bank balance. 1 had to meet payments to auctioneers, who vm\ pressing me. borne I paid and sonu 1 did not. Mr Spence: At March 26th, 1912 when j’ou borrowed the £2090 were you being pressed by anyone? Bankrupt: Yes; 1 will swear thai the Bank said 1 must reduce my overdraft. Witness added that the monej was placed into the bank by his bank er, who got it from a friend. Mr Spence: Who lent yon the £2000? Bankrupt: I decline to answer until 1 go up for ray public examination. Ho added that he did not want tin name made public. Mr Sellar advised bis client to an-

swer. _ . Bankrupt replied that his banker got a friend to lend the money, but he (bankrupt) did not know who the I‘nend was. Mr Spence: Will you swear that you do not know the name of tin friend who lent the £2000? Bankrupt saiel lie had stated to tin Assignee and three of the largest creditors whom lie got the money through. Mr Spence : Will you swear that jou did not state to this meeting a few moments ago that you did not wain the name of the lender made public, but that j’ou were prepared to give the name to the Assignee and three of the largest creditors? Bankrupt: Yes; I have told you who 1 got the money through. The question was repealed. Bankrupt: No; I swear I did not say it. i Mr Spence: Have you not alreadj told the meeting whom you got this money through? Bankrupt: ies. Mr Spence: And you don’t know where you got it from ? Bankrupt: I think the bank manager told me the name, but 1 have forgotten it. He added that he did not pay much attention to the name, because be only wanted the money L tide him over a difficulty for a few days, when be could sell his stock and pay the money into the bank. After some further examination or the point ,bankrupt said: .1 believi it was Herbert Curtis who lent the £2OOO, but I do not know the lendei personally, and 1 am only guessing at the name. At six o’clock the examination had! not concluded, and, on the motion ol Air Gillies and Mr Casey, it was resolved that the meeting adjourn till : date to be fixed in January by counsel engaged. The D.O.A. will notify tin < ieditors of the date,—Hawera Star.