Mirage of Great Expectations

NZ Truth, Issue 1108, 24 February 1927, Page 4

Mirage of Great Expectations

— * ~" — ~ "/ ' ■ " : --: '*»■ ■ ■ / .-■■'.'.-'• Story of High Life on A Low Salary (From "N.Z. Truth's" Special Wellington Representative.) . : . If one has great expectations of wealth, if one joins m with cabaret parties, drives a car and, m general, puts up, a,; bold front, one has an entree to the ranks of the "best" people; f ßut it costs money, and £4 a week doesn't permit of it.

, m = ;. OSBPH WALDER r -wn mcclintock,- a flj Wellington insurNj ance clerk mre 7 ~ _| • cci Pt ° * that ■* • H princely sala ry, Ttv\ iJ_^ believed he , could ; J f\\ "do" things and •■' /ilv\ thought he would /^ttlfflVV "show the world," — r^S^Xy? with the result L/^lfHl|i&L that he appeared J, m bank ru p t oy proceedings m Wellington the other day. ..-.-.' His father was a director m the Vacuum Oil Company, Melbourne. When, ''in 1925, Joseph came to this country 'and gave ft the help of his urbane, dashing young self, he secured a post with the Ocean Accident and Guarantee Corporation, at a "screw" of £4 weekly. , That was m. July. Four months later he went back to Australia to share m- the proceeds of his father's estate. Had v poor, Biblical Solomon been m Wellington when Joe returned to New Zealand he might have cut a sorry figure beside the care-free opulence of the up-to-date and spirited yo.ung. clerk. One morning the common people and other office l -'folk were dazzled by the appearance on Lambton Quay of a beautiful . Chanard-Walker speedster, with the immaculate Joe on the quarter-deck. On the spare wheel which covered the bareness of the car's rear portion was a neatly printed notice, thus: "If you can read this, you're too damn close." : And so did Joseph Walder McClin T tock announce himself. '■'■' That was m March of 1926. And- now : let us get back to the bankruptcy proceedings.' In his sworn statement he said that his share of the estate was £1259, of which £758 was spent m paying ac-

counts — old and new — during his stay m Sydney. The balance of . £551 was remitted to him shortly after iffi his return here. 'j| Between M a r c h fejj and November of f last year he also % received £ 150 m S salary and raised ,« loans totalling,® £112; m all,' £763. I His principal ex- S periditure, he said, P was £290, which » he made to avoid litigation. He could not disclose the particulars relating to this

payment, a statement which evoked some pointed suggestions from his creditors. ; A It was during the examination by Official Assignee Tansley that the fun commenced. Assignee: You bought about £100 worth of furniture from Yeats — a £69 bedroom suite and £29 for a carpet — what were they for? Bankrupt: I was contemplating marriage — I was engaged — and I anticipated getting about £1000 from my father's estate. . - You didn't pay for it, though! No, Yeats said he would wait until the draft arrived from-, the Vacuum Oil Company. What was this £57 for' from the Grand Hotel? . - ' Well, that was foolish living. It appears to "me that you were grossly extravagant. You got through £500 m cash, £150 in'salary, and borrowed £112, all' in seven months. The position is simply disgraceful. You are a single man, and yet you spend nearly £800 m about seven months, and incur liabilities of £270. 1 think your bankruptcy has. been brought about by extravagant living. I don't think the matter should' be allowed to remain where Lawyer Atkinson (for bankrupt) : I hope you will allow us to be heard. We don't want any judgment m advance. , ■■-„ .■ ' ' • '. The Assignee: It is as clear as daylight to me! ■■■'•■',- Lawyer W. B. Brown . (representing certain creditors) : Calder's debt of £26 was 'contracted m April or May, wasn't. it?— Yes, • .''.,.' ' You' didn't apply any- of the money by way of repayment, did you?— l had other people. .■'..'■ The debt of Mrs. Dixon's — £23-— was for board and lodging, was it not? ; Bankrupt: Oh, yes.: You had the best room in^ttie house, didn't you? McClintock: No. : I 'had a room 10 by 6.". ' .. '- '■ •■ .'-■;.■.■'.', He- and Mrs. Dixon then had a passage-at,-arms, which was fended off by the Official , Assignee saying that he didn't think there was need to discuss.that. You were frequently making trips to Christchurch,; weren't you? Not regularly. , I ; went twice, to •Christchurch. -V s ; '*.- ''[. : y.\ Wasn't it an extravagant' procedure to be tripping over there when, you were being sued for debt? ''■'*.■■'- V

Bankrupt (haughtily):. I won't answer that question. ' For what purpose did you go there? To see some friends. 'For no other purpose? Was there a lady m the case? . I refuse to answer, that. I am afraid you will have to. You were living extravagantly, were you not? I do not deny that. Frequenting cabarets and various other' places ? Well, I spent about £20 on the cabaret within "seven months — everyone paid their share. , Can you give us some idea of how you came to contract those debts "m Sydney? They are all there m the statement. The Assignee (perusing statement):---£758. You were not co-respondent m any divorce proceedings, were you? I refuse to answer that. Assignee Tansley (with some - warmth) : You can't refuse to answer. Lawyer Brown (continuing;, his cross-examination): Where did you stay m Australia? ; The Carlton m Sydney and Menzies' m Melbourne. In reply to a further question, .' the' bankrupt airily said the tariff was £1 a day or thereabouts. Abraham Moss (a creditor) : Where did you spend Christmas last? At Major Ray's place on- the Terrace for a few days. I then went to a friend's place m Palmerston North. Moss: You were hopelessly insolvent and yet you spent money to go there. > I was "shouted" that. You went to the races ? ~ Yes, but I was a guest of a friend. You let them pay your way to the races? No, a friend lent me the money to make the trip. ' ' Lawyer Brown: Was that money returned? — No, it was a gift. Lawyer "Bill" Perry then astounded the meeting by saying' that the credi-

tors he -represented — six of the eleven — had instructed him to oppose any l hostile motion that \ might be put begl fore the .meeling. %Sk T" n °s c creditors §fl , were satisfied with ■3 bankrupt's statement, and did npt _ j, want to hinder him .' I m any way. /] At Lawyer At- / J kinson's . instigation M bankrupt explained 'im t h at '.. under a 1 scheme' of the Is Vacuum Oil Com- , gly pany he expected HP to. benefit to the extent' of about

£1000, representing one year's salary of his deceased father. In the ordinary course of events he, as the next of kin, would have enjoyed this sum, but the directors of the company decided not to make any such allotment. All last year Joe had been, looking forward m pleasurable anticipation to this little windfall, ..but ' m November he received a letter from the Vacuum Oil Company m Australia advising him of their de- • cision. Thus it was that McGlintock found that he had squandered a lot of money m anticipation of this £1000, and had, m addition, made himself insolvent to the tune of £264. He had no assets. Lawyer Brown said; he was not satisfied with the bankrupt's statement, and thought there should be an investigation into the alleged claim against the Vacuum Oil Cbm'ftahy^ He proposed that the meeting sho.uld be adjourned sine die;" .'■.'" Assignee Tansley said ne consideredthat the case 7 should go before the Crown Prosecutor. . Lawyer Perry then moved: "That no good purpose can be served by - any further investigation, and that the estate be. wound up as soon as possible." 'The motion was carried ,by_. the mover exercising the proxies „he held. The Official Assignee: I, .don't think it is worth much, but if I' think '-it is | my duty to take action, I certainly _. shall do so. I don't care what motions creditors pass. ■■■■•"'•■ i