The Bankruptcy of Mr Henry Henty.

Manawatu Standard, Volume XI, Issue 1713, 20 May 1886, Page 4

The Bankruptcy of Mr Henry Henty.

The tips and dowus of colonial life cannot be better illustrated than by the following from the Melbourne Argus *of Ist May:— An nnconditional certificate of discharge m bankruptcy was yesterday granted to Mr Henry Henty by his Honor Judge Noel, on the application of Mr Braham. The affidavit which had been filled m the case showed that the applicant's insolvency had been entirely brought about by the mismanagement of his brother, Mr Herbert Henty, who wm lett m charge of the business m 1882, when Mr Henry Henty went to Europe, and. f rom which time be was absent from Victoria for two years. On leaving, Mr Henry Henty charged his brothernot to engage m. speculation of any kind, but to continue the business of tlie firm on safe lines, but m the most rockiest vcay Mr Htiwy Henty advanced money to several linns whose estates were subsequently sequestrated, and thus involved his firm m large losses. In this way the following were among the losses made:— By Messr* Luke, "Williams, and Co., £57,000 ; By Messrs B. Bowman and Co., ifIO.OOO ; by Messrs Keill Bros., £16,500; by the Victorian Review Publishing Co., about £11,000 j and by William Henry Dodd t £47,000. The result was that Mr Henry . Henty, who left the colony worth £90,000, came back to find the firm so far involved that he was unable to pay the statutory dividend of 78 m the £, and therefore the Court was asked to dispense with its payment and grant a certificate to the bankrupt. His Honor, m giving his decision, fully concurred m the justice of the application, and m granting it said that it would be most unfair to make the insolvent accountable for losses over which he hud no control.