“HOPELESS FOR YEARS”

Sun (Auckland), Volume II, Issue 319, 2 April 1928, Page 11

“HOPELESS FOR YEARS”

DAIRY FARMER’S STRUGGLE

ORDERS ON MILK CHEQUES

A dairy farmer’s uphill struggle against indebtedness caused the official assignee, Mr. G. N. Morns, to say,to-day: “Your posi-ion must have been hopeless for years. t has meant that you have had little or nothing to live on.”

Percy Alfred Insley, farmer, of Ness Valley, Clevedon, who had filed a petition in bankruptcy, said that since 1924 there had been orders on his milk cheques. One of' them had usually been for half of it, and occasionally other creditors had obtained orders. There was no quorum at the meeting* of creditors held to-day. Bankrupt was represented by Mr. C. G. Lennard. The financial statement showed a deficiency of £999 3s lOd. The amount owing to unsecured creditors was set down as £1,150 13s 10d, and the amount owing to secured creditors £5,165 19s od. The value of securities was £5,170 9s 3d. Assets amounted to £lsl 10s, including shares in the New Zealand Dairy Company. The principal unsecured creditors were Abraham and Williams. Ltd.. Auckland. £213: Manukau County Council, £147; W. H. Taylor and Co., late of Clevedon. £107; S. Bryers and Co., Clevedon, £IOB. The secured creditors were North Auckland Land Board. £3,9Si and £1.162. and the International Harvester Co., £ls 10s. # A SOLDIER FARMER In his sworn statement Insley said that on his return from the war he bought a farm at Ness Valley, of 179 acres, from a Mr. Simkin at a price of £4,680. The purchase was made under the Discharged Soldiers’ Settlement system. Insley went into partnership with a man named Boland. The Crown lent the full purchase price and also financed the purchase of stock. The partnership got into debt and struck the butter-fat slump. In 1921 Boland was bought <'*ut for £SO, Insley taking over all liabilities. It was only in . the last season that he had brought the. famr to a. payable state. The Government admitted that too much had been paid for the property and the Dominion Valuation Board had offered to reduce the mortgages very considerably if Insley got a release from the creditors. “The Crown has of late years held orders on my milk cheques, and th:s has entirely tied my hands and scarcely left me enough to live cn." he concluded. The Crown made an offer 5 o start Insley again if he were cleared of his other debts. No resolutions were passed.