GEORGE WALKER BANKRUPT

Hawke's Bay Herald-Tribune, Issue 141, 2 July 1937, Page 15

GEORGE WALKER BANKRUPT

-Pres* Association. 1

"Wregtling is Just a Gamble" CREDltORS MEET

(By Telegraph-

WELLINGTON, Last Night. Owing an amount totalling £355 11/10 to 18 unsecured ored'itors and admitting & complete absence of assets, George Walker, professional wrestler, rnet kis creditors before Mr S. Tansley, offieial assignee, - Wellington, yesterday morn.inrr_ Walker sai,d ke had nothing in yiow, and as he tkougkt wrestling iyas just a gamble, coul.d not comxait him»elf to any undertaking. Tke keaxiag Sras adjourned sine die. Mr R. L. A. Cresswell represeated bankrupt. In nis sworn statement Walker iaid; — "I am & profeesional wrestler by occupation. 1 came to New Zealand permanently ia 1930. For tke iirst few years I was busily eagaged and made good, money. My aet earnings, kowever, ■wero aot as heavy as might be tkought, as a leadiag wrestler is compelled to iaeur leayy living aad travelling expenses. "Ia 1931, as aa additioaal source pf oacome, I started a wrestling sckool ia Auckland. Tke iaitial costs of starting the echool wero keavy, being ia the neighbourhood of £800, a l&rge portioa of which went ia tke printiag of a book oa wrestling. I kad a manager aanxed Beattie, who was ia f ull ckargc. "I kaanced tke venture aad put in a lot or timo ia eoaneetion witk tke sckool. I understood that tke sckool was successfui, but I received little xeturn for tke money I kad invested. Finally, after the schobl kad been ruaaing for about 18 months, tke inanager departed for England, travelling uader *n assumed name, at a timo wkea I was abseat from Auckland. "I closed tke sckool down after that. Tke wkole venture, kowever, cost me sbout £700 ia cask witkout couatiug tke timo aad trouble I kad devoted to it. Wkea I firet wrestled in New Zealaad I wrestled for a body known as tke New Zealand Wrestling Association. Tkis was aa Auckland association, and later anotker body was formed inoWn as tke Dominioa Wrestling Union. Tke second body absorbed tke New Zealand Wrestling Association in about 1931, and all wfe&tling in New SHealand came under its control. Disagreed 'Witk Union. i *'I dieagreed wdth. tke tactics whick Wero adopted by tke union, and ultlinately I refused to wrestle in matches under tkeir control. Tkis kappeked about 1933. From tkat time to tke present season X kave done yery little Wrestling. Various bodies, other tkan tke wrestling union, kave from time to time endeavoured to promote bouts in New Zealand. Tke police, kowever, made difficulkiea in connection witk pennits for bouts other tkan tkose con« ducted by tke wrestling union. "I kave been tke suiferer from tkis and for eome yeara my eatnings from my oecupation kave been practically nii. About tke same time I kad tke trouble witk tke wrestling union I got into difficulties witk tke Income Tax Department. I am not a business man and was ignorant of New Zealand law, and wkea 'tke unemployment tax was enacted I' was unaware tkat I was affected. _ * 'About 1931 tke income tax aftfhorities began pressing me for unemployment tax wkick was owing on my previous earnings. In addition to tke tax itself I found .tkat I kad incurred heavy penalties. I am not aware of tke

exact amount but it was considerable. "All niy debts are comparativoly small amounts, excepting .tke amount owing to Mr Slade, wkick represents money adv&nced to me during tke periods I kave been inactive. I attribute my. bankruptcy almost entirely to the disagreement between myself and tke wrestling union. During tke last four years wrestling kas boomed in New Zealand, and kad I been wrestling for tke union I would .kave done very well." " Uafortunate Years. Walker said tkat tke last two or ckree years kad been rather unfortunate to hiTTi. ' 4 1 don 't intend to evade any tking, but I don 't like to commit myself to any tking 1 can't see tkrougk. I kave done and I will do my best.' Mr Tansley: Tkere are apparently keavy. expexise3 dn connection witk trainingl — 44More tkan anyone can pay unless tkey arg making money." Mrs Lyon; Mr Slade advanced Mr Walker money, but ke wbuldn't pay kis xent. M t Tansley: Do you mean ke wouldn't or ke couldn'tl You ' can't get blood out of a stone. Walker: I went to Australia to t'ry and get tke money to meet my creditors. It-was tke tail-end of tke season and I did not do muck good. I got farther into debt. If I wasn't willing to face my creditors I would not kave come back to New Zealand. Mr Tansley: "Have you notking in view but a match or twof — "No; I kave notking in view. Wrestling is just a gamble. You migkt get a house worth £10, £20, £50, £200, or £300. Whatever tke kouse, tkere are keavy expenses." Mr Cresswell said tkere had been a meeting of Walker 's creditors last year. Mr Slade knew the position quite well and was not attending tke present meoting. Walker: Mr Slade advanced me sorae of tke money to go to Australia. Mr- Cresswell: Tke Dominion Athletic Club kolds grOss receipts for £150, tke proceeds of two bouts Walker had after tke petitiou kad been filed. Eairly keavy expenses are to be deducted from tke, sum. Tke club is prepared to give "tke ofilcial assignee full details. Mr blade is not a secured creditor. Walker: Wrestlers kave to pay all tkeir own expenses. I went to ChristcUurck'once for a match. I received £18 and it cost mo £20. If you only kave £l, jou've got to pay everything. Uncertain Livelihood Mr C. E. Harris, wko represented the Commereial Agency, asked what Walker exjiected to get out of tke two bouts. Mr Tansley: He doesn't know. He can't tell what kfe expects to get. Tt soems a very uncertain sort of livelihood to me. You can't go to court and ask for an order on kis salary because he doesn't know what it is going to be. Mr Harris: Can ke make an offer out of subgequent bouts f Walker: It is hard for me to commit myself. Mr Tansley: If ke, kas any money he can? spare- I take it ke will pay off kis creditors. Walker: Yes, I certainly will. Mrs Lyon: While he owed money he went akound in a car. He must have something to keep it going. Mr Tansley: Where is tke car now? Walker: I have lost it. Mrs Lyon: You played golf T Mr Newland, representing a creditor: I tkink golf is part of kis training operationi. Walker: A wrestler kas to train all the. tinui, whether ke's wrestling or not. Tke car was a necessity. It saved me travelling expenses and hotel expenses. Mr Tansley: Is tke car now repossesscdf— "Yes." . Mr Tansley: It's quite true tkat ut : times a car does not cost as rnuch as running about in a train. Walker: it helped me to make quick tripa and to save money. On several trips a passenger skared expenses with me.

"Piece of Bad Luck" j Mr Tansley: We can only look for- 1 ward to Walker seeing better times and j ayiug up wben ke can. Nothing kas been, brougkt fOfWard to skow any dishoucsty on kis part. Mr Newland: It seems to be a piece of bad luck. Mr Tansley: I tkink we will kave to adjourn tkis meeting. I take it, Mr Walker, tkat if you are in a position to get bouts you will pay something to your creditors? Walker: As far as making promiseB goes, I never know wkat I am going to get. I don't want to commit myself to any tking I, can't do. I know for a fact that mdst of the wrestlers who have come to New Zealand went away with nothing. Heavy expenses cut out all tkeir earnings. Tke season here is only scven montks and expenses are fairly liigk in tke off-season. Mr Newland: Wrestlers havp to keep in condition all tke same? Walker: Yes. Tkat's tke kard part about it all. Tke official assignee tken adjourned tke meeting sine die.