BANKRUPT CHARGED

Hokitika Guardian, 29 October 1931, Page 6

BANKRUPT CHARGED

WITH. EXTRAVAGANT LIVING. t'Jßy Telegraph — I’er Press Association) CHRJSTOHUROH, October 29. The trial is proceeding at the Supreme Court of Washington Irving Carney a woolbuyer on charges (1) That being adjudged bankrupt be had by unjustifiably extravagant living brought about his bankruptcy. (2) That he contracted a debt of £l7 with Rink Taxis. Ltd. (3) That lie contracted a debt of £l2 with J. E. Hurd ley and Son Ltd.,.both without expectation or ability to pay. The Crown Prosecutor said the accused was in a sad position hut the facts had to he considered. Losses made in business, especially in such bad times, could be excused, but the Crown suggested that extravagance in the living of accused had been the real cause of his bankruptcy. For the defence, counsel, Mr Imscelles, said the wool business was a peculiar thing. Prices always came back and Carney had reasonable expectations of soon being able to make enough to meet liis obligations. Carney would 'say that liis money was expended, not in riotous living, hut in heavy, and sometimes unexpected overheads. When the. slump came, he, like many others, thought it was cowardly to quit and that he would win through.