GUM-DEALER BANKRUPT

Sun (Auckland), Volume 1, Issue 104, 23 July 1927, Page 21

GUM-DEALER BANKRUPT

DEPRESSION IN MARKET “There is no doubt about it that he has fallen in through the state of the gum market,” said the official assignee, Mr. G. N. Morris, to a meeting of creditors of Daniel Pervan, a bankrupt gum dealer, of Helensville. who appeared to explain his position yesterday. He was represented by Mr. Bryce Hart. A deficiency of £333 was revealed by bankrupt’s schedule. He owed £437 to unsecured creditors and his assets consisted of cash in hand amounting to £lO4. In a written statement Pervan said he was a naturalised Dalmatian and had resided in New Zealand for 21 years. Until seven years ago he was a taxi-driver by occupation. In 1920 he obtained 82 acres of gum land. He worked the place and produced gum. which at a normal state of the market would be worth £I,OOO, but owing to the depression he obtained less than £SOO. This was not sufficient to meet his debts. Asked by Mr. Morris whether he kept any books, Pervan said he was not much of a scholar and could not manage the task. His last sale of gum. on which he lost £SOO, represented between 12 and 18 months’ work. * Since this sale he had given up the idea of making anything out of gum and was now working on a building job at IBs a day. Pervan’s creditors were sympathetic and agreed that his failure was the result of misfortune.