RUINED BY ILL-HEALTH.

Hutt News, Volume 2, Issue 49, 15 May 1930, Page 11

RUINED BY ILL-HEALTH.

MARKET GABDENBB'S BANK-

BUPTCY.

How a market gardening venture ended in bankruptcy owing to ill health was explained to the Official Assignee (Mr B. Tansley) recently by Joseph Marshall, labourer," Petone, at a meeting of creditors. Total debts were shown at £165/3/3, and estimated assets £195. The principal creditors were Samuel Spurr £94, Wellington Hospital £29/5/-, George Thomas and Co £20. The book debts were estimated to produce £75.

Bankrupt in his sworn statement, said he had purehasedi»-a leasehold property at Nay Nai, to\yer Hutt for £250. Of that amount he paid £229 received from the sale of a piroperty iir'Petone. His inr tentioii was to use the ground for market gardening but his health was so bad. no profits .were derived from the land. For a considerable period since he" acquired «the property he had been in hospital. He had: tried to dispose of the property without success, and the Commissioner of Crown Lands had'now taken steps to" resell it on account of his failure to pay instalments of rent. When not laid up he was working at the Woollen Mills, but his earnings were v not sufficient to keep i his family. Mr Spurr had pressed him for repayment of the money lent six years ago, so -he had to file his petition in bankruptcy.

A creditor expressed the opinion that the land could be turned to better account if the Crown Commissioner wotild allow them an opportunity of dealing with it.

The Official Assignee said he would look into the matter and the inquiry was adjourned sine die.