GUM-DEALER BANKRUPT

Sun (Auckland), Volume 1, Issue 103, 22 July 1927, Page 1

GUM-DEALER BANKRUPT

DEPRESSION IN MARKET CREDITORS SYMPATHETIC “There is no doubt about it that he has fallen in through the; state of the gum market," said the official assignee, Mr. G. N. Morris, to a meeting of creditors of Daniel Pervan, a bankrupt gum dealer, of Helensville, who appeared to explain his position this morning. He was represented by Mr. Bryce Hart.. A deficiency of £ 333 was revealed by bankrupt’s schedule. He owed £437 to unsecured creditors and his assets consisted of cash in hand amounting to £lO4. In a written statement Pervan said he was a naturalised Dalmatian and had resided in New Zealand for 21 years. Until seven years ago he was a taxi-driver by occupation. In 1920 he obtained 82 acres of gum land. He worked the place and produced gum, which at a normal state of the market would be worth £I,OOO, but owing to the depression he obtained less than £SOO. This was not sufficient to meet his debts. Asked by Mr. Morris whether he kept any books, Pervan said he was not much of a scholar and could not manage the task. His last sale of gum, on which he lost £ 500, represented between 12 and 18 months’ work. Since this sale he had given up the idea of making anything out of gum and was now working on a building job at 16s a day.

Pervan’s creditors were sympathetic and egreed that his failure was the result of misfortune.