INSUFFICIENT CAPITAL

Taranaki Daily News, 2 December 1929, Page 6

INSUFFICIENT CAPITAL

INVOLVED FARMING VENTURE. FAILURE OF NORMANBY WOMAN. The only creditors represented at the meeting called on Friday for creditors in the bankrupt estate of May Ellen Nicholson, farmer, of Normanby, were the Loan and Mercantile Agency Co. (Mr. H. D. Hill) and the Egmont Box Co. (Mr. G. Diver), the meeting being consequently adjourned sine die. f Bankrupt’s debts amounted to £750 ss. 6d., and the assets were estimated at £B. The creditors, none of whom were secured, were: —Loan and Mercantile Agency Co.; Ltd., £598 4s. Id.; Egmont Box Co., £B9 7s. 6d.; Curtis and Spragg, £l3 7s. Gd.; Newton King, Ltd., £4 Ils.; Colonial Sales Co., £2; Farmers’ Co-op., £3B 9s. 7d,; Borthwick and Co., £4 ss. lOd. In her personal statement bankrupt stated that, as ; her husband had been compelled to give: up his farm in 1922 a fresh start was hnade by her, taking up a native leasehold which, with a piece of land of her husband’s, made a total area of 80 acres, on the Austin Road. Stock and implements and a further 50 acres leasehold were financed by the Loan and Mercantile Co., but the capital was not sufficient to make the farm pay. First arrangements as to finance were made some four years ago, a bill of sale, being given over the stock and chattels with the consent of the original financiers, who, however, shortly afterwards pressed her for a reduction of their account. In order to pay, she was compelled to part with the 50 acres and 25 cows.

Losses among the herd placed bankrupt in an unfortunate ’financial position, and the bill of sale holder calling up his money, the remaining stock and chattels were sold. Bankrupt possessed no means wherewith to meet the debts, and the only alternative, under.pressure, was to file.

In reply to inquiries as to the holders of the lease of the property upon which a cowshed and building were erected, it was stated that bankrupt’s husband had acquired the head lease, she having a sub-lease under which she defaulted in payment of rent, her husband taking over the property. The buildings were erected by her during her tenancy to a prior holder of the head lease.

The position disclosed drew forth remarks by the Deputy-Official Assignee as to the involved position as between husband and wife, with the suggestion that the expenditure of money on a wife’s property by a husband, or vice versa, might give grounds for redress in bankruptcy proceedings. He thought the whole of. the arrangements between Nicholson and Mrs. Nicholson were very unsatisfactory. HAWERA OPERA HOUSE TALKIES. “THE CANARY MURDER CASE.” Crime detection methods are demon strated by Philo Vance, the famous amateur detective, in “The Canary Murder Case,” the thrilling S. S. Vine detective story screened at the Hawera Opera House on Saturday night. The picture, which is a Paramount alltalkie, features an all star cast with William Powell in the lead, supported by James Hall, Louise Brooks and Jean Arthur. Margaret Odell, known as “The Canary,” Broadway’s most coldly ambitious and yet most popular show girl, determines to marry Jimmy Spotswoode, a wealthy young society man. Jimmy’s father visits The Canary in a last endeavour to frustrate her desires. Almost immediately afterwards The Caiiary is found strangled in her apartment, Philo Vance, whimsical society man who has gained fame as an amateur detective, is brought in to solve the mystery: “Who killed The Canary?” Was it Mau.nix, the fat broker who loved The Canary until she threatened to show his .letters to his wife? Was it Spotswoode, friend of Vance, who feared for his son in the grasp of the scheming woman ? Was it,,Lindquist, the half-insane doctor, made with love of her? Was it Cleaver, the social reformer, whose political career she menaced? The police detective is sure th it it is none of these, and arrests Alys la Fesss of the Canary chorus and her sweetheart Jimmy Spotswoode. Alys lives next door to The Canary, and Jimmy has quarrelled with Alys and let himself into The Canary’s power. An examination of the suspect by Markham, chief detective, reveals nothing more. As a result of his investigations Vance discovers that a closet in The Canary’s apartment has been, occupied, probably ■by. someone who witnessed the murder. "Find him and he will tell you who the murderer is,” says Vance. But only the body, of the. life-witness is found—he, too, has been strangled. With the case thus complicated Vance sets to work to save his friend’s son. By means of a game of poker with the detained suspects he learns who did the murder. He also learns how the murderer got in and out of The Canary’s locked apartment.; ,vvhy.‘.The Canary’s voice was heard- through the closed door after she had been murdered; why the mysterious man hid ; in the closet, and what was the powerful motive for the sensational crime. The all-talkio shorts include two comedies, "The Carnival Man," reminiscent of the recent Hawera show, and “The Instalment Collector,” and an excellent interpretation of Grandfather Smallweed from Dickens’ “Black House’’ by Bransley Williams. The programme, which will be presented again to-night and to-morrow night, is well worth patronising.