BANKRUPTCY.

Gisborne Times, Volume XXV, Issue 2236, 13 November 1907, Page 2

BANKRUPTCY.

At tlio office of the Official Assignee yesterday tho examination of C. P. Ingram, a bankrupt, was held. No creditors were represented. Bankrupt’s statement showed that 'lie owed £146 17s 9d to unsecured creditor’s, and that lio had no assets Bankrivpt stated that in 1899 he commenced slieep-farming on 340 acres of land at Okoihi. The land _ was partly in grass. The stock consisted of 400 sheep and 15 horses. Started without capital, but had 150 sbeep, Wool was low at tlie time.. Bought the 150 sheep with tho proceeds of ■a scrub-cutting contract. Mortgaged these sheex> for the purpose of purchasing more. Continued farming till 1903. In that year a horse running on the road destroyed his crops. He took the laws into his own hands, and when charged in tho Supreme Court with wounding the horse was acquitted. Partly as a result of this and qrartly because of the low price of wool the mortgagees sold up his stock. Then ho took a bush contract at £1 per acre for 220 acres, but * did not complete the work owing to men _ leaving because they were not paid up. After the sale of the stock still owed the mortgagees £SO. Had since taken a contract for road maintenance for tlie Cook County Council which did not pay. AA’as at present working for his father on weekly wages. The land he had farmed belonged to his father. Filed as a result of a storekeeper having obtained judgment against him on an account for stores in connection with tho bush contract.