Waring Taylor's Bankruptcy

Feilding Star, Volume VI, Issue 37, 9 September 1884, Page 3

Waring Taylor's Bankruptcy

- • per united press association. Wellington, This Day. At yesterday's sitting of the Bankruptcy Court William Waring Taylor, bunkrupr. came up for public examination. In the cross-examination Taylor admitted tbat he used all the funds as one. He continued : " I was agent and trustee in the estates of the late Mr James May, the late Mr W; B. Rhodes, Mts Sarah Ann Rhodes, Mrs Edward Moorhouse (when Miss Rhodes), Mr T. Lloyd-, Rev. J. Duncan, and for a trust called Blyth's trust. You will scarcely credit, but I luay say tbat within less than a month of my bankruptcy was the first time I found myself in monetary difficulties. I scarcely expect 'tbat statement to be believed, but I stake it on oath. I recently made up a statement on my liabili-.tie-s and assets for the National Bank. I may say at once there is no doubt that that was a misleading statement. I knew that in 1870 1 was worth £10,000, ..hat in 1873 I bad made profits of £7000t '" but of land sales; and also that since 1873 I had turned over from £"300,000 to f 32",000 at fair profits, irrespective of ■ales of land, agency matters, and commissions. The inference I draw from my present position is that in March I could not have been solvent I have put M r Dalrymple's money through my account with his knowledge ; be is my son in-law. I owe Mary Taylor, my sister, £3000. I used it in my business with her knowledge. The statement made by the assignee in bis report that my books were hot balanced for eleven years (from June, 1873, to June, 1884,) is not correct. There was n correct balance taken in 1879 I had a .memorandum book in my safe containing data for my own guidance as to niy position, but I am sorry to say it is' missing. I have every reason to believe that 1 I must -have known I was insolvent for Vcars past. It is a hard thing to say, but J, am driveu to say it. that the assignee had been instigated by personal motives. "- ln> examination was adjourned till the 29th ijtft.