OWES A MILLION

Gisborne Herald, Volume LXVI, Issue 20084, 2 November 1939, Page 8

OWES A MILLION

ASSETS COME TO £ I 8/10/LONDON DIRECTOR FAILS COMPANY GUARANTEES Cross liabilities of about one million pounds, with assets of £lB 10s. were mentioned when Claud Ronald Anson, a company director and a pioneer of private flying, whose address was given a.s St. Regis, Cork street, W., faced creditors at the London Bankruptcy Buildings. Ills failure, it was stated, had been caused by giving guarantee.- and backing bills cm behalf of E. D. Winn and Company, Limited. Government contractors, who failed with liabilities of £2,000,000. Mr. Anson was the managing-director. Three Times Wounded Mr. V. Armstrong, assistant official receiver, stated that about half the liabilities would rank against the estate. The assets consisted of a .€:; 10s book debt and jewellery valued at £ls.

Anson had not consented to being adjudged a bankrupt, but explained that he was not in a position to make any offer to his creditors. He had stated that -lie joined the army at the outbreak of the Great War, was wounded three times, and after 1010 was confined to his bed for two years. In 1920, when he had recovered his health, he joined the board of E. D. Winn and Company, Limited, and paid £7500 for shares in the company. The company handled large contracts with the British Air Ministry and other Government bodies. Its affairs became involved, however, and a receiver was appointed. Eventually the company went into compulsory liquidation. Anson and Sir Edward Every, another director, it was stated had guaranteed a large number of the company's debts relating to goods supplied. During the last three years Anson's only income had been derived from director's fees and interest on loans, which had amounted to about £IOOO a voar. Flights With Wife Mr. Percy Phillips, accountant, was appointed trustee of Die estate, to act with a committee of inspection. Later, a close friend of Anson told an interviewer that Mr. and Mrs. Anson were so keen on private flying that they used an aeroplane as others use a motor car.

Their pilot, Mr. Tim Wood, used to fly them all over England and many parts of Europe. They would land in such places as the frozen lake of St. Moritz, Switzerland, and the fields of the English countryside. Their aeroplane, the S.T. 10, was lost in the Timor Sea three years ago while on. its way back to England after the Londou-t'o-Melbourne Air Race.

Mr. Tim Wood was obliged to land on a small coral reef. He and his companions were picked up by a native fishing boat,