HEAVY BETTING.

Hokitika Guardian, 21 July 1926, Page 2

HEAVY BETTING.

BY TELEGRAPH- —PRES 9 ASSX., COPYRIGHT, AUCKLAND, July 20. The statement that heavy betting was the cause of his bankruptcy was made by Arthur Henry Sherwood when examined to-day by the Official Asignee. The meeting of creditors which had been adjourned from July 14tli lapsed for want of a quorum, hut bankrupt was questioned at length by the Official Asignee and Mr A. R. Davis representing a creditor. Bankrupt, who had kept a boardinghouse at St. Heliers’ Bay. said lie had not attended the previous meeting because he had not received notice. Replying to a question by Mr Davis regard a section lie had owned bankrupt said he bought it for £IOO and sold it to his wife. Speaking of ills betting transactions bankrupt said he invested one amount of £3OO at Te Rapa. This lie lost. He admitted that lie went to Sydney to attend the races, he said, and lost a good deal of

Mrs Sherwood was also examined. She said she bought a section from her husband when he was short of cash. She did not remember how much she paid for it. She and her husband liefore going to Sydney had lost a good deal of money in bets at different race meetings. She had only hen they went to Sydney. They atfended races at Rand wick. In reply to the Official Assignee. Mrs Sherwood said she could not remember how much both Lad lost since a judgment was obtained against them.

The Assignee: “Do you expect us to believe that struggling people like you will spend hundreds of pounds and not be able to account for it.” Mr Sherwood replied that she could not remember. She added that betting was an cverv-day occurrence with her. She had been brought up with horses. Mr Davis: Bit is useless going any further.” Tie added that steps might have to bo taken to hold a public examination.