AILIFF AND FARMER.

Taranaki Daily News, 20 December 1924, Page 9

AILIFF AND FARMER.

FARMING VENTURE FAILS. DEFICIENCY OF' £516. (From Our Own Reporter.) Hawera, Dee. 19. Another victim of the -land boom in South Taranaki, W. J. Melville, was called upon to meet his creditors at the office of-the D.O.A. (Mr. R. S. Sage) at Hawera to-day, but only one creditor, Mr. W. A. Brown (representing O’Dea and Bayley) attended, and the meeting lapsed for Want of a quorum. Melville was represented by Mr. H. G. Brodie.

The unsecured debts totalled £476 16s Id and the secured debttf £7141 (estimated to produce £7081). Book debts were set down as £2l 10s. The apparent deficiency was £516.16s Id.

The unsecured creditors were: G. Syme and Co., £9 4s 4d; A. McEwing (Whangarei), £4O 2s 9d; F. Gillanders, £l9 Is 7d; J. W. Lash £4; R. Hardley, £lO 10s; W. G. Simpson, £1 10s; Walker. £1 ss; C. Kneebone, £29 ss; Dr. MeGhie, £0 9s; Dr.Buist, £4 12s; O’Dea and Bayley, £7 17s; Commissioner of Crown Lands. £339 9s sd; G. Ryan, £2 2s; total. £476 16s Id.

In his personal statement the bankrupt wrote: In June, 1919, I was transferred to Hawera as bailiff* of the Magistrate’s Court, my salary and emoluments averaging from about £350 to £4OO per annum. In August, 1919, I bought a farm on the South Road, of 13’6 acres, for £6B 10s per acre from W. A. Quin. I had £2757 cash, which I spent as follows: To Quin on purchase of land, £1200; for 56 cows, £Bl3 10s; for milking machine. £150; for more cows, £B5 10s; for horses, implements, etc.. £125; for improvements to the farm, £383; total, £2757.

I only averaged 148 pounds of butterfat per cow for the first season, and never more than 150 pounds. For the •first season I was £93 Ils out of pocket. Next year I tried a farm manager and showed an actual loss of £39. For 1921-22 I showed a loss of £349 and endeavoured to sell, but unavailingly. In 1922 1 was transferred to Wellington, and my wife left Hawera and endeavoured to carry on the farm with the help of two men. The loss for that season was £291 4s lOd. In July, 1922, I was sued by Quin for £67. his half-yearly interest, and had to cable to my brother, Major J. B. Melville, in London. He me £2OO, for which I gave him a bill of sale over mv furniture.

The statement, after going fully into the bankrupt’s affairs, stated that he got deeper in arrears. He stated that he attributed his failure to buying land that was too dear.