AN EXPENSIVE WIFE.

Hokitika Guardian, 22 December 1923, Page 4

AN EXPENSIVE WIFE.

HUSBAND’S FORTUNE C!ONE. RE.MA RKABLE BANKRUPTCY. AUCKLAND. Doc. 17 A remarkable and almost, unbelievable state of affairs was alleged in a statement made bv the Deputy-Official Assignee during the hearing of an application by J. F. Strang, on behalf of William Wilson, of Leamington, for discharge from bankruptcy. According to Ibis statement, bankrupt’s schedule -bowed liabilities to unsecured creditors C.'JfiS, and to secured creditors CfiflA: that lie was holding securities to the value of £2OOO, and had other assets valued at £SO. Claims against the estate amounted to L'ft'-fi, but no assets bad been realised. married a scotch widow. Bankrupt, in bis statement, said be had been a cartage contractor, and had accumulated savings amounting to £OOOO in .Tune. 11)21. Then at the age of 04, a bachelor, be married a Scotch widow with four children. At this stage bis assets comprised Government inscribed stock C2oOO, money in the Post Office Savings Bank CfiOO, money on deposit to Farmers' Union Trading Company £.IOO, money due by bis sister £230, cash in hand £2O, various sums due to him £2OO, and unencumbered property at Leamington £2OOO. “A RIOT OF EXTRAVAGANCE.’* According to bankrupt, shortly after Ins marriage bis wife took general control of bis financial affairs, and in a riot of extravagance spent money right and left. She was dissatisfied with the condition.-- under which she lived al Leamington, and persuaded bankrupt to buv a hoir-e in Auckland for £1 !2n. £(100 being left on mortgage. To complete the purchase £IOOO was raised on security of his inscribed stock, the balance being spent by bis wife in tlie purchase of furniture. Through the purchase of more furniture and clothing, a credit balance of £.‘loo was converted into a debt of £llOO. The company from whom she purchased the goods later brought pressure to bear regarding payment, and bankrupt’s wife is then alleged to have disposed of Government inscribed stock, obtaining a further sum of £o!)0 over and above the £IOOO originally advanced. This £OOO was banded to defendant’s wife on the understanding that she was to settle a debt due to the company. Instead of doing ibis, it is alleged. she spent the money in other directions. Other moneys, it. was alleged. wore .squandered in a similar manner. SPENT £OOOO IN IS MONTHS. Mr V. 11. Sanson, Deputy-Official Assignee, said that though the facts as stated above appeared unbelievable, they were proved oil an examination of the wife to be substantially correct. One draper supplied over .£2OO worth of drapery to the woman during one calendar month subsequent to adjudication. A mortgagee over the Leamington property sold this under the mortagugeo’s powers, thus completing the final disappearance of CilOtlO ol assets in a space of IS months. Wilson, finally penniless, was forced to apply for an old age pension. i Mi Young, S.M., in going into the matter, came to the conclusion that the old man had been perfectly straightforward and honest, blit extreiticlv foolish in allowing such a woman a- hi- wife turned out to be to handle bis mono.'. His Honour said misfortune scorned (o have risen upon misfortune for Hie old man. Mr Si rang said if was perfectly inn that a man who two years ago was worth a lorl line of £(i(H!U was now in receipt ol the old age pension. His Honour, in granting application for discharge, remarked that it was a ]>• c;. the wife could not la punished.