BANKRUPT FARMER
PUBLIC EXAMINATION IN ENGLAND United Press Association—By Slectrte Teleern nh —Copvrlcht (Received May 5, 6.30 p.m.) LONDON, May 4. The public examination in a London bankruptcy court of George Edgar Somerset, formerly a sheep-farmer, of New Zealand, showed liabilities amounting to £26,414, and assets valued at £4. Debtor said he came to England in 1924 and started to speculate in wool. In 1933 he disposed of large quantities to Germany, but restrictions were imposed in 1934 and the market collapsed. His losses amounted to 1-AOOO, to which he attributed his present insolvency. ■ Somerset admitted that his household and personal expenses in three years and eight months amounted to £6064, but he said that he had travelled all over the world.
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Bibliographic details
Timaru Herald, Volume CXLIII, Issue 20720, 6 May 1937, Page 7
Word Count
122BANKRUPT FARMER Timaru Herald, Volume CXLIII, Issue 20720, 6 May 1937, Page 7
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