SPENT £20,000

Timaru Herald, Volume CXXXVII, Issue 19806, 23 May 1934, Page 9

SPENT £20,000

RAN THROUGH FORTUNE IN SIX YEARS LONDON, April 20. The gambling losses and racing disappointment of a young man who inherited £40.000 six years ago were referred to at Brighton Bankruptcy Court last month, when Francis Howard Wynter, formerly of Hove and now of Petersfield, attended for his public examination. A statement of affairs showed liabilities £1037 and a deficiency of £969. Wynter said on attaining his majority in 1938 he inherited £40,000, and settled half that upon the trustees. In the same year he spent £2500. and in subsequent years about £2OOO a year. From April, 1932. to April, 1933, he had a total of £4230, much of which went in paying debts. He lost a good deal by betting, cards and other forms of gambling. In February, 1930. Wynter went as a pupil to a trainer of racehorses, pacing him £SOO, and bought a horse called Merchant’s Flag for £IOO. but it fell in its first race, broke its leg. and had to be destroyed. Since October. 1930, Wynter said he had purchased or had half-shares in various racehorses, none of which was successful. He had lost over £2OOO backing horses. He was now receiving £5 a week from the trustees. Wynter married a former actress in April, 1932. They arc now separated, the trustees paying her £3O a month. Arrangements were bcirg made with the trustees for the settlement of the whole cf his debts.