BARONESS LOSES FORTUNE.

Taranaki Daily News, 24 September 1921, Page 6

BARONESS LOSES FORTUNE.

IN THE HANDS OF MONEYLENDERS.

SERVED AS NURSE IN THE WAR.

When the affairs of Maria Gertrude, Baroness Decies, came before the. London Bankruptcy Court, a statement ] showed gross liabilities £56,280, and an ■ estimated deficiency in assets of £23,032. Lady Decies told the Official Receiver that her hueband died in 1910, and. the barony passed to a brother. She received on her husband’s death about £85,000 invested in funds, but subject to the payment of death duties. In the following year she bought a freehold house known as Scotewood, with 34 acres of land, at Sunningdale. She spent about £145,000 in improvements and lived there until the outbreak, of war, when she became a nurse attached to the British Red Cross Society. She served in France, where she was twice wounded, and also in Russia and Roumania. A DEAD LOSS. On her return from the war she and a' relative opened a rabbit shop in Lower Belgrave-atreet, the idea being to increase the production of food by breeding amd selling rabbits. Soon afterwards there was a slump in rabbits, and the venture resulted in a loss of £3OO. In 1919 she converted her house at Sunningdale into a hotel, and carried it on under management as the Scotswood Golf Hotel. It was unprofitable, and in July, 1920, a creditor holding a second mortgage appointed a receiver, end sold the property for £lO,BOO. The furniture and effects were sold under a. bill of sale. She estimated the loss on the forced realisation at £15,850, and in addition she lost £5700 in running the hotel. HELPING HER BROTHER. Since 1910, Lady Decies said, she had rendered financial assistance to her brother, who died in April, 1918. She thought that the total amount of these advances was between £40,000 and £50,000, and they were the main cause of her present position. The money was raised by selling her securities and by mortgaging Scots wood.

“I believe,”' said the Official Receiver, “you were afeo taken to money-lenders.” “I was.” Lady Decies replied, “but at that time I did not know they were money-lenders. I thought they were financiers.” She had been in the hands of moneylenders ever since. The cash Advanced by the money-lenders was £17,000; her repayments amounted to £13.657, and ehe still owed them about £42,000, so that she had been charged over £38,000 for interests and costa.