A FARMER'S FAILURE.

Taranaki Daily News, 5 December 1921, Page 8

A FARMER'S FAILURE.

LARGE DEFICIENCY SHOWN. MEETING OF CREDITORS. The adjourned meeting of creditors in the bankrupt estate of Robert James MacDonell, farmer, of Castlecliff, Wanganui, called for Saturday at New Plymouth, which was to have been held at the office of Mr. J. S. S. Medley (Deputy Official Assignee), lapsed for want of a quorum. Bankrupt was represented by Mr. J. B. Roy (Roy and Nicholson). Following is the list of unsecured creditors:—E. C. Cole (Douglas) £1 15s Id; Newton King. Ltd., £255; J. G. Turnbull (Taihape) £3 6s G<l : Wairarapa Farmers’ Association. £95 17s sd; Allen Bros. (Wanganui) £1 -Gs; H. J. Hopkins (Stratford), 16s; Wanganui Clothing Co., £2 7s 6d; Levin and Co. (Masterton), £2000: total, £2300 8.1 fid. Assets, one horse valued at £l2 10s. Deficiency, £2347 -ISs fid. BANKRUPT’S STATEMENT. Bankrupt’s written statement was as follows: “In 1917 I took up 600 ae-*es of land at Alfredton. near Eketa-huna. under.thee Discharged Soldiers’ Settlement Act. I farmed it for about 12 months, when I was taken ill. I then sold up the stock and arranged with the Government to let the property to a Mr. McArdle uiTtil I became lit to go back and work it. McArdle and others after him had the property for about 12 months, during which time the amounts paid by the lessees for rental to the Government barely paid the Land Board rent and interest. In 1919 J decided to farm the place myself, and, with the assistance of my relatives, who gave me stock (about 500 sheep), I started to work tl'.e land. The 500 sheep were not sufficient to stock the farm, and I arranged with Levin and Co. to finance me, and I bought a line of stock (340 I sheep) from Feilding. The sheep were shorn and the wool consigned through Jyevin and Co., the proceeds being placed to my credit. 1 bought 994 lambs from Abraham and Williams, selling same week in current account, about £3OB. Early in 1920 ! sold 381 sheep (proceeds :-bo”t £431). the purchase money going to Levin and Co. For the last four months of 19if). Meeeh leased the grazing for a limited number of cattle for £3O per month. DEALS IN SHEEP. “From January 1, 1920, to January 1. 1921, Meeeh had the occupation of the place at a rental of £6OO per year. I have been unable to obtain payment of any rents from Meeeh, and he has now filed his petition in bankruptcy. Levin and Co. had the matter in hand and I understand that they have duly claimed against Meech’s estate for the rents owing. On leasing the farm to Meeeh I took up a lease of 643 acres at Tututawa. I took the balance of the sheep then living (300 odd) to Tututawa. I then bought a further line of 150 sheep. Through Levin 'and Co. .1 bought another 670 sheep. I then went to Newton King, Ltd., and arranged that the company should take over my present liability to Levin and Co., less Meech’s rents, £720, and finance me for further stock and to enable me to meet payment of rent falling due, the company to security over all the stock on the place. In the ordinary course of the farming, and finding that the feed was running short, I took 300 sheep to Wanganui and sold them, the proceeds paying for the 150 previously bought, and also the current rents of the farm. • 1 tried to sell 600 sheep at Newton King's sale at Douglas. It was rumored about the yards that these were from Hawke’s Bay. and F could hardly get a bid for them and had to drive them back to the farm. I had paid over £1 per head for the 1100 odd . head on the property. During the winter some 500 head of these sheep were missing, mostly dying on the farm. There were gorges on the property, and some of the cattle reaching for the tutu on the edges went over and were killed; some of them got back into the bush and could not be recovered. Just before going to the Wairarapa to get moneys from Meeeh which were owing for rent, and also £4OO owing to me by the Government for improvements (buildings, etc.) put on the property by me, I counted 12 of these cattle on a back ridge in the bush. Twenty head of cattle were sold by Newton King. I consider I lost 20 head of cattle and some 500 head of sheep during last winter. To these losses, the loss of the rental - from Meeeh, and not getting the amount I owing to me for improvements on the I " ’irarapa farm. I owe the present posi- , ipn of my affairs.” EXAMINATION OF BANKRUPT. In «reply to the Deputy Official Assignee, bankrupt said that he had disclos'd all his assets, as far as he was aware. There may be some stock on the farm at Tutiitawa, under bill of sale to Newton King, Ltd., that had not been seized by them owing to their not being able to muster them. He surrendered his lease of 608 acres at Alfredton to the Government, but as rhe lend had »been taken up by him under the Discharged Soldiers’ Settlement Act. the Wellington Land Board declined to pay any compensation, as such compensation would have been absorbed by his creditors He was unable to make an offer of any kind to his creditors. He received a salary of £2lO a year as a teacher, which he required for living expenses. He had a lease of a farm” of 640 acres at Tututawa for five years with a purchasing clause at £l2 lOs per acre. DR. SHELDON’S GIN FILLS AS GOOD FOR MEN AS FOR WOMEN. No .matter how long you have suffered with baclGche lumbago, or Kidney Trouble, how old you are or what you have used before, you should try Dr. Sheldon’s Gin Pills, they ar? sure to help you, as it Is practically iniyss*ble to take * them into the human system without benefiting. They help v-<: from the very first dose, tui'l soon banish all your ailments and make you strong and healthy once again. Obtainable everywhere. ' i The tastiness of Fish is enhanced when fiivoi’cd with Sharland’s Tomato Sauce, which is made from rich, red, luscious Tomatoes. Just try it. The world .would be very drab without the beauty and charming fragrance of »r flowers. They make life sweeter and hippier. "52 Lavender” possesses a o charm of its own which is deligntfully 6 refreshing and pleasing.