BANKRUPT LAND AGENT

Taranaki Daily News, 22 November 1929, Page 15

BANKRUPT LAND AGENT

CREDITORS TAKE NO ACTION. The three creditors of Hu'bert Henry' Maddick, a bankrupt land agent, New Plymouth, met him yesterday afternoon, Mr. J. S. S. Medley, Deputy Official assignee, presiding. Maddiek owed £92 6s id and his assets amounted to £45. The creditors, none of whom was secured, were: R. W. Roper, Palmerston North, £BO 4s Cd, \V. C. Weston, New Plymouth, £C 9s 7d, T. C. List, New Plymouth, £6 2s. The bankrupt’s assets were a survev map of Taranaki valued at £5 and a Hupmobile ear worth £4O. In his written statement, Maddiek stated that in August, 1927, he bought a land agency business in New Plymouth for £6O. At that time he did not owe any debts and had £l3O cash and two second-hand cars. He carried on business until July, 1928, when he agreed to sell a half interest in the business .to Mr. Roper for £BO. Afteia partnership lasting a month he arranged to take over Mr. Roper’s share of the business for £75 Bs. Land agency continued to be slack and in November Maddiek sold out to Mr. J. Sutherland. Until August, 1929, he had been unable to obtain anything but casual employment, his living expenses often being more than his earnings. Since August he had been employed on a farm at £8 a month and keep. In March Mr. 1 Roper had obtained a judgment against him for £BO 8s Cd and a judgment order had been obtained in August. He had since paid Mr. Roper £5, but being pressed for payment he had no alternative but to file. He was a single man, said bankrupt, 38 years of age. He was a returned soldier and in 1926 he had managed a farm at Bell Block while the owner was ill. He then bought Prior’s business and the office furniture. He had sold to Mr. Sutherland for £l6 10s and 40 Blenheim Oil Company shares, then valued at 10s each. He sold some of. the shares at £1 each and some for less than that amount. « To Mr. A. Bewley, who represented Mr. Roper, Maddiek said he had no interest in any property in England. His brother had promised to finance him if necessary, but his brother had struck hard times too, and had been unable to give any assistance. Before the war bankrupt was a farmer in England, but on his going to the war his 'mother had managed the farm for a while;. When his mother died he had inherited about -£l3O. He had kept a banking account for the trust fund of the bush ness, and the receipts had been entered in the books now the property of Mr. (Sutherland.. At this stage he could make no offer to his creditors. "It is obvious that this is one of those unfortunate cases where the bankrupt has failed through no apparent fault of his own, and I am not disposed to move against his discharge,” said Mr. Weston’s representative. The meeting was adjourned, no resolution being passed.