W. J. TUCKER'S BANKRUPTCY.

Taranaki Daily News, 30 July 1917, Page 8

W. J. TUCKER'S BANKRUPTCY.

MEETING OF CREDITORS. A meeting of creditors in the estate of W. J. Tucker, farmer, of Waitara, was held at the ofiice of the D.O.A. (Mr. J. P. S. Medley) on Friday afternoon. The D.O.A. presided. Ranknipt was represented by Mi. F. K. Wilson.

The only creditors represented wore \V. Tucker and D. T. Tucker (Mr. Barltrop), Reid and Gray (Mr. Smellieh C. Dunbar (Mr. Lawry). N'ewton King (Mr. Krbbcll). and T. Luxton. Bankrupt, in his :-tatemont. showed liabilities in unsecured creditors amountin;: to .CI 10-t 10s lid, and to scoured creditors C 2220. Tlie value of securities was estimtaed at .C 37-10. leaving a surplus from securities in the bands of secured creditors of C 1520. and n surplus of assets over total liabilities of £41.") Os Cd.

In bis written statement bankrupt said be had in 101:5 exchanged a 400acre farm in for 1100 acres at Okoke, and bad obtained from Mr. Newton Kin? (?tock to tbe total value of ,£]Sl>il. He lived with his wife and family at Waitara, and at first employed a man at £l3O a year, but found tbe farms would not bear tbe expense. He detailed bis losses, and stated that be bad failed in the endeavor to sell out. Mr. Kin<r found a buyer for one farm at a loss of £2 per acre. Tbe proceeds of tbe bind and clearing sales were paid to Mr. Kinir. He estimated lii.s interest in the r'-maimn.ir section at Co 10s per acre, and bad received ail otler of C 4.

After bankrupt had been cross-exam-ined as to bis attendance at races, it was decided that tbe D.O.A. sell the proper t v if possible.