BANKRUPT FARMER
SIIAREMTLKIXG AXD RACING
Share-milking and racehorses do not mix successfully, as the creditors of a Rongotea farmer discovered, who tried to carry on the one as a business and the other as a hobby. William -James Sexton, farmer, of Rongotea, whose debts totalled £2BB 14s Bd, underwent a severe crossexamination before the Deputy Official Assignee (Mr. C. Dempsy) at Palmerston North this week, concerning his endeavour to run racehorses on ail income of less than £3OO a vear.
Jn his personal statement bankiiipi said mu a sharemilkor al (Ren Oman on a one-third share. ALv family assist me on the farm. I took np my present position about ten rears ago. 1 was then free from debt, but penniless. T did well, and within two' years 1 was given full management of the farm. 1 had hep! a racehorse practically all my life, and as I had saved a few pounds, and prices were good, I was tempted to try my hick again. This venture left me £OOO in debt. Cndei - cross-examination by the Deputy Official Assignee, bankrupt said that his average for the last two years were £3OO. Hi* could make no offer to his creditors;
The meeting was adjourned for two weeks to see if bankrupt could make anv offer to his creditors.
Mr. Eollinson gave notice of motion that lip would move af the next meeting that bankrupt's furniture he left with his wife, who. lie stated. was practically an invalid.
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https://paperspast.natlib.govt.nz/newspapers/MH19270616.2.24
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Manawatu Herald, Volume XLVIII, Issue 3652, 16 June 1927, Page 3
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246BANKRUPT FARMER Manawatu Herald, Volume XLVIII, Issue 3652, 16 June 1927, Page 3
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