EX-BANKER’S DEBTS.

Manawatu Herald, Volume XLIX, Issue 3782, 21 April 1928, Page 3

EX-BANKER’S DEBTS.

PUBLIC EXAMINATION. A public examination of James Douglas Adams, an ex-bank manager, was made under section 124 of the Bankruptcy Act, 1908, before Mr. Justice Reed in the Supreme Court at Wellington on Wednesday. The bankrupt was manager of the Bank of Australasia, Levin, and was asked to resign in October, 1926. His salary was £435 a year, and he had a free house partly furnished. In his statement, his debts were shown as at £BOB. He bad borrowed ,£l6O to pay off an overdraft, and had borrowed £7O on the representation that he had money coming from Anstralia. A sum of £35 had been borrowed when he had received a cable from his sister, stating that she was to visit him and bring him £IOO. His sister never arrived, and by that time the £IOO was of no use. He had borrowed £45 and given promissory notes payable to the Bank of New Zealand, Levin, but he admitted that be had no account there. He thought if. he informed his sister of his position she would let him have money. About £795 of his debts represented borrowed money. He had taken to drink, and had lived beyond his means. He said ho did not gamble to any great extent, but occasionally backed horses. He played cards for money, but did not lose more than £2O a year. He had spent about £6 a week on liquor. That was the only explanation that he could make as to where the money had gone. After further questions His Honour made an order that the bankrupt's affairs had been sufficiently investigated.