Untitled

Shannon News, 2 December 1921, Page 3

The Standard says that during the month of November there were fourbankruptcies reported from within the Palmerston North district, which takes in all the territory between Marton and Otaki. In November of last year only one bankruptcy occurred in the district, With but .one month to go the current year has purduced no fewer than 29 bankruptcies—an extraordinary number for this dis-trict-compared with only seven for the corresponding period of last year. Of this year's crop of bankrupts, 12 were farmers, three of whom filed their schedule this month. These figures lend striking testimony to the fact that the financial stringency through which the Dominion is at present passing lias affected the producers more than any other section of the community. It is also noteworthy that in the majority of cases the farmers who have failed bought farms during the height of the recent, land boom. During the three years preceding 102.1 a total of 15 bankruptcies was registered in the Palmerston North district, and already this year this quota has been doubled.