A WAVERLEY BANKRUPTCY.

Taranaki Daily News, 14 February 1922, Page 7

A WAVERLEY BANKRUPTCY.

A FARMER’S DIFFICULTIES. A meeting of creditors in the estate of Henry Walter Harrison, farmer, of Waverley, was held before Mr. Silk ton Tuesday. The bankrupt’s statement showed the liabilities to be £2l/573 9s, made up of unsecured creditors £363 9s, and secured creditors £21,210. The assets were: Stock at Mokoia and Waverley £lO9l, bonus and milk supplied to Waverley Dairy Co. £'l6o, cash in hand £1 12s, furniture £5O, land acres Patea Rural District) £4OOO, 359 acres Okotuku £7000; total assets £11,292 12s. The bankrupt, in hisf statement, said he was dairy farming at Waverley. Up to 1918 he was farming at Hawera, when he was called up for active service. He sold out his farm, leaving £875 on third mortgage and got about £5OO in cash. After the armistice he was released from camp and returned to Hawera. He bought a property in Turuturu Road for £llO per acre, and sold it for £l3B per acre. He next acquired a property at Mokoia and leased it at £4 5s per acre. He then acquired his present property from Mr. W. A. Benefield at £32 10s per acre. He put £2OOO into the property. He had been assisted by Mr. Chas. Woods. In July he had to take back the Mokoia property, as the lessee went bankrupt. Owing to the drop in the price of butterfat he was unable to pay his way. He had <been supplying the Freeh Food Co. and the Maoriland Co., and in December he took his milk to the Waverley Dairy Co. The payments from the Wanganui Co. were Bd, and he then realised he could not carry on. He considered if he could get quit of the Mokoia property and the price of butter-fat kept up he might pay his way on the Waverley farm. Though the property bought from Mr. Benefield was acquired in his brother s name and his own he had run the place on his own account, and all financing on the stock had been in his own name. It was decided, after discussion, that the bankrupt be allowed to continue milking until the estate is wound up, bankrupt to retain his furniture.— Patea Press.