A FORTUNE SQUANDERED.

Dominion, Volume 1, Issue 129, 24 February 1908, Page 9

A FORTUNE SQUANDERED.

' llarol<\ Collinge,'.of .Colchester House, Maidenljead, a ; 'young man of twonty-four,' ;wlio caiiio up' for his ,public examination 'in bankruptcy recently at tho Windsor Bankruptcy Court/, explained how ho squandered a largo/ fortune.' . . , He/had. he said, carried on business as 'a bookmaker under the stylo of "H. Col-: lard," and had lost , money at that. 'At tho age of twentyrfive—on; August 21 noxt—ho would have been entitled to £22,000 under the Trill'-'of his father, but he had mortgaged it and anticipated tjio, inconio ho would have received.- Ho had also an annuity, of £250' payahlo .until he was twentyllvo yoars of ago, but as lie had mortgaged his £22,000 lie would;ho entitled to no-' .thing. ;■ "' • -, -' -. ■ 'From tho ago of eighteon tip to tho. pro.sont tiino'' ho'-.calculated "that-, tho avei;ago rato at ljvhich lie had.beon living.was about £4000 a year, i Ho bneb received £12,000, ajui lio' liaTl'borrowod'' thousands of pounds from:' money-lenders." About two'/oars ago ho owned a racehorse,' ' Littlo' -Fitz, which he sold back foir £60' to the man from whom lid bought it. " , • i_ •1V : - : Most of his money had gone in motor-cars. "I have paid as much; as £1000 for a motorpar," said Collingo, "and whenever I bought a now one I 'sold 'tho- other- for considerably less than it cost mq.. -I do' not' agreo with tho;. Ollicial Receiver's suggestion that a motor-car" could be' kept and run at- £200 a year: 'A - 40-h.p. car will; cost £800 to .£looo'a'year to'run." ! ; , Ho was in ''.receipt :of . 'assistance from friends, and' at 'tho present time was. actiiig as '"a gentlemanvchaulTour for a'.gentloman ■who gives me a present now and then."-'. ■