BANKRUPT BOXER

Taranaki Daily News, 23 May 1934, Page 10

BANKRUPT BOXER

OUTLAY EXCEEDS PROFITS. COMMENT BY ASSIGNEE. “ Gisborne, May 17. That professional boxing in New Zealand does not carry much in the way of pecuniary reward was revealed at a meeting of creditors of Joseph Lawrence Franklin, holder of the fightweight title, who recently filed a petition in bankruptcy showing debts totalling £133 and no assets. . Franklin, in his statement, explained that in 1929 he injured an ankle and as a result was unable to work, a visit to a Sydney specialist being only partially successful. In 1931 he broke his other leg as the result of a motor accident and consequently was again unable to work. Under examination, Franklin, stated that he took up boxing seriously in 1932 and had produced a record number of fights since. His first contest yielded him £7. Then he fought at Masterton for a £5 purse, against which expenses amounted to £l2 10s, the loss being borne by his mother. In January of this year h.e received £5 ,2s 4d for a fight in Dunedin, and in February fought for a purse of £l4, from which the net profit was £6. On March he fought at New Plymouth and received £2 Is 6d, his expenses amounting to £23 12s. Three weeks later, bankrupt stated, he had a contest at Westport, receiving £32 10s and his expenses totalling £22 8s and he was £5 2s out of pocket. For his Wellington contest the amount he received was £37 and the expenses £24 18s, and for his bout at Napier with Donovan he received £2O. The assignee remarked that Franklin had apparently received £37 14s lOd from his fights. “So there is not much to be made out of professional boxing,” he added. . At the conclusion of the exammation the meeting was adjourned sine die.