WOMAN BANKRUPT

Sun (Auckland), Volume II, Issue 606, 7 March 1929, Page 1

WOMAN BANKRUPT

MANY PROPERTY DEALS

Complicated property deals weie described this morning at a meeting of creditors of Marion Elizabeth Cheadle. . Mrs. Cheadle, who said she was separted from her husband and had four children partly dependent on her. owed c 8s 3d to unsecured creditors and. of her assets of £34 10s, furniture represented £3O. Mrs Cheadle said that she had taken over a business at Taumarunui and had exchanged it for property at Onehunga subject to two mortgages. She could not rent this property and fell into arrears with her rates. In exchange for the Onehunga property, she took sections in the Merrilands Estate and 39i* shares in Pines, Ltd. The Onehunga house was bought back by the vendor for £1,050 when she had ; paid £2,100 for it. She later sold ! the Merrilands sections to her sons foi ! their full value. Bankrupt was questioned closely j concerning her payments for machin- | ery in Pines, Limited. i She said that one son had been ! giving her £3 a week on the average | but she refused to tell a questioner if she knew what her son’s income was. j “If I did know-,” she said, “I should not | tell you.’’ i There was no quorum at the meeting • and no resolution was passed. Mr. G. j X. Morris, the official assignee, said j that he would want a full statement o' i money' paid to Mrs. Cheadle and ad- [ vanced by her son since April, 192?.