BANKRUPT'S STORY.

Dominion, Volume 7, Issue 1987, 18 February 1914, Page 8

BANKRUPT'S STORY.

EOW HE LOST IN LAND;DEALS,

(By Telegraph.—Pres3 Association,)

Chrlstchurch, February 17

Charges of misrepresentation were made at a meeting of creditors in.the estate of Ernest Bennetts, farmer, of Snuthbi-idge, to-day. Bankrupt, it was stated, had/entered.into several land and property 'and Had made exchanges of property 'through two land agents.- Ho had:'lost £3000 in tho last two years. . Bankrupt said that ho had at no timo lived extravagantly, arid attributed his present position to bad judgment , in dealing in land, and to the misrepresentation ot' land - agents, and these causes had, in, a little over two years,cost him a loss of an estimated capital of £3000. He had absolutely no other assets tlian ( »thoso-. disclosed, .and-no. expectation of, any. sort whatever, and he would havo to look for a livelihood gs a farm labourer. During the time Jhat ho was, engaged in speculations lie had kept no books whatever, but had relied for any information on statements inado to him by-land agents nnd solicitors; ..Bankrupts staterapnt showed: Unsecured creditors; £131 Bs. 9d., and secured creditors'-'^l>749; , assets, £1747 los.;. deficiency, £104 13s. 9d., -• ' ';•' " "• ;■" The Official Assignee said that he had sent out letters to tho persons concerned in various transactions asking them for information on each deal. There was evidence that there was a great deal of misrepresentation , . Bankrupt seemed to have* gone through a laru'e sum of money, in .these businesses, and £3000 had gone in costs and com- . mission. It was decided to leave tho . matter in tho hands of the Official Assignee ,to mnko,inquiries.,from solicitors and land agenis with whom bankrupt had had.dealings. ; : ,■.