Bankruptcy Returns

Feilding Star, Volume XIV, Issue 68, 26 November 1892, Page 2

Bankruptcy Returns

Some very interesting figures have re< cently been compiled and published by the Official Assignees in Bankruptcy at Auckland and Dunedin relating to the insolvencies in their respective districts from 1884 to 1891 inclusive. From these we learn that in the Auckland district there have been IS3B bankruptcies, and in the Dunedin district 1623. The proved debts in Auckland amounted to £987,090 10s 7d, and in Dunedin to £1,062,053. The realised assets divisible amongst the creditors amounted in Auckland to £152,885, 9s 8d and in Dunedin to £218,311. This gave in Auckland a dividend equal to 3s ll£d in the £, and in Dunedin to 4s l£d in the £. The Auckland Assignee, however, according to the Auckland Herald, points out as "only " fair to the business people of Auckland, " that during the years 1886-1889, a num- " ber of failures occurred which were not " ordinary commercial failures, but which " were directly traeesable to land specu- " lation. Taking a dozen typical cases, "he finds that the liabilities reached the " enormous total of £152,662, while the "assets available for division in the " twelve estates only amounted to £2147, "or less than 3£d in the £1. Eliminating " these figures from the total, the average " dividend is raised to over 3s 7d in the £1." We are enabled to compare the aboye figures with those for Wellington. Here the number of bankruptcies has been 2190, the proved debts £1,036,767 15s Id, the amount divisible £199,037 4s ! Id, and the dividends equal to 3s lOd in the £. Tbe Wellington district includes Hawke's Bay, Wanganui, Wairarapa, Marlborongb, Westland, Nelson, and Weiliagton.—Post.