IN BANKRUPTCY.

Manawatu Herald, Volume XLVI, Issue 2702, 1 March 1924, Page 3

IN BANKRUPTCY.

FARMER’S BUSINESS VENTURE

A meeting of creditors in the bankrupt estate of William Henry Doney, was held on Thursday afternoon at Palmerston North when there were present tbe D.O.A. (Mr C. E. Dempsey), (lie bankrupt and bis solicitor (Air Grant). Mr T. Webb, holding proxies for tbe Trading Auxiliary Co., Ltd., and Mr C. E. Pees, and Miss Ganslad representing Air D. Patterson. The bankrupt in his statement outlined bis fanning and business career. In 1918 be bad commenced farming operations at Awapuni with £SOO capital and was doing well until 1021 when he left this place and leased 150 acres of land at Te Mntai, giving security over his stock. However, sickness among his cows followed bv the relentless pressure of the slump, caused his early departure. Tn 1022 he arranged to sub-lease a farm in the TCniranga, but after three months’ occupation could not complete flic arrangements and bad to vacate this also. TTc turned to business and together with J. B. Cooper started a milk vending establishment- at Foxton, into which lie put £SO, and to which Cooper contributed £2OO. Again illluck dogged bis footsteps and the business proved a failure and after several unsuccessful attempts to sell it, bankrupt left and allowed Cooper to carry on. He filed at the instigation of the Whakaronga Dairy Company, whose account be was unable to pay. While in Foxton bankrupt had carried on on his own account. Bankrupt stated that he was now employed as a labourer at Bnnnythorpe. receiving 16/per day and was not in a position to pay his creditors, liis only asset of any value being bis furniture, which was worth £SO. The original statement of assets and liabilities showed that unsecured creditors totalled £3lO 12/- and assets £l3l 14/3. The meeting was adjourned sine die.