BANKRUPT FARMER IS NOW IN PRISON.

Star (Christchurch), Volume XLIV, Issue 173, 23 July 1931, Page 6

BANKRUPT FARMER IS NOW IN PRISON.

MEETING OF CREDITORS HELD AT ASHBURTON. (Special to the “ Star.”) ASHBURTON, July 23. A meeting of creditors of David Bell, a farmer, of Carew, was held at the Ashburton Courthouse to-day. The Official Assignee (Mr W. J. Ching) said he was acting as agent for the Official Assignee of Christchurch. Bankrupt, who is serving a sentence in Paparua prison in connection with a motor accident a short time ago at Geraldine, was represented by Mr R. Fletcher by power of attorney in order to save the expense of bringing bankrupt to Ashburton. The financial statement showed that the amount owing to unsecured creditors was £258 18s lid, and to secured 'creditors £720 Ss 9d. Securities were estimated to produce £4SO. The secured creditors were Dalgety and Co., £SOO 9s 9d, Rovds Motors, Ltd., £BS 9s, International Harvester Co., £l4O. The deficiency was £443 10s lid. The principal unsecured creditors were the Power Board. £l7 7s 2d. J. Cochrane £32 11s 6d. F. C. Griffiths £lO 0s sd, Johnston £5 11s 7d. Dr Miller £6 13s 6d, Murray’s. Ltd, £S 7s 10d, J. R. M’Rae £ls ISs lid. Skinner and Wilkinson £29 15s, T. M. Sim £6 14s Bd. Para Rubber Co.. Timaru, £l6 2s, F. E. Smith, Geraldine £6 6s, Roffey and Colville £BS. In his sworn statement bankrupt said he had started farming in 1926, leasing 720 acres at Carew. He did reasonably well until two years ago, when he lost heavily on account of low prices for wool and lamb and through the expenses of court proceedings following a motor accident. He could make no offer to his creditors. The winding-up pi the estate was left in the hands of the Official Assignee.