TALE OF BAD LUCK

Dominion, Volume 21, Issue 123, 22 February 1928, Page 5

TALE OF BAD LUCK

SURVEYOR’S BANKRUPTCY _ -J SLACKNESS OF WORK ANT) SICKNESS Slackness of work and sickness in his familv were given as causes which had contributed to tho bankruptcy of Charles W. Reardon, surveyor, of Reardon Bros., Wellington, at a meeting of his creditors yesterday. Tho amount owing to unsecured creditors was shown as Jj.313 Ils., while the only assets were surveying instruments valued at £25. The principal creditors were C. It. Major, Till); 1). Lccd, chemist (Newmarket), «£42 -Is. (id.; Walker Bros., storekeepers. Opotiki, X3l 75.; F. J. Bertram, agent. Auckland, <£l3; W. Rains, labourer, Auckland, <£29 19s. Gd.; Estate of C. Mahoney, Wellington, .£7O; Skinner and Lane, storekeepers, Opotiki, £l4. . , Bankrupt in his statement explained that he was a surveyor and practised in the Auckland district until 19u>. Work became very slack, and he came to Wellington. “He was manager ot tho Waiwetu Quarries Ltd. from May, 1926, to September, 1927, at £8 per week. His son became ill. and be was obliged to send him to Sydney and later to Norfolk Island for his health. He had had to keep him for the last two and a half years and pay all his doctors’ and travelling expenses. J e had also had sickness m his family for tho last six months. In Septeniber last bankrupt met with an accident to bis knee, and he was now disabled from following bis occupation of sur- ' Tim Official Assignee (Mr. S. Tanslcy) presided, and there were also present: Bankrupt and bis solicitor (Mr. K 08. Loughuau), Messrs. C. E. Scott (Walker Bros.), and W. Rains. In reply to Mr. Scott, bankrupt said that the house the family lived in in Nairn Street and tho furniture belonged to bs wife, who had an interest in tho lease of a block of Native land in the Opotiki district. There were three mortgages upon the dwellinghouse, and he assisted his wife to pay the interest upon these. He and his wife had had shades in Waiwetu Quarries, Ltd., which had ■ since gone into liquidation. Hie wife had got tho money to buy the house and furniture from interests in speculations ho had given her over 20 years ago, and which had proved lucky. Mr. Scott said it appeared very much as it bankrupt had been trading all along in his wife’s name. He was not satisfied with the explanations which had been given. Mr. Rains asked why bankrupt had borrowed J>23 from him .when he knew he was insolvent, and why ho had told him that he and his brother had an interest in the lease of a block of J\ative land at Opotiki. Bankrupt denied that he had . said, that he and his brother had any interest m land at Opotiki. Mr. Rains would be paid from the first money Mrs. Reardon received. ~ x , . a The Official Assignee said that the Bankruptcy Act prevented investigations going back beyond three years. He would look into the position ot the estate, and as there was not a Quorum present the meeting would be adjourned sine die.