IN BANKRUPTCY.

Taranaki Daily News, 8 September 1922, Page 2

IN BANKRUPTCY.

ESTATE OF W. B. TIMMINS AND E. F. SANDFORD. Owing to the non-attendance of a quorum of creditors in the bankrupt estate of William Burnett Timmins and Ebenezer Frederick Sandford, the meeting which was to be held at Hawera on Tuesday afternoon did not eventuate. Secured creditors were: Repatriation Department, £l5OO, less realised value of securities £soo—'deficiency £llOO. Unsecured creditors were: E. A. Dahl, Hawera. £264 7® 6d; Manaia Loan Company, £6lB 4s sd; Kaupokonui Dairy Company, £4OO, less value of 128 shares. The bankrupts’ statement was as follows: “We returned from the war in 1919 and about twelve months afterwards made a joint application to the Repatriation Board for assistance to commence farming. We obtained lease of farm of 130 acres on the Taikatu Road, Otakeho, from E. A. Dahl, through Mr. A. H. Christie, of Manaia, which we leased for five years at a rental of £3 5s per acre from July 1,. 19-20, to June 30, 1925. The Repatriation Board granted us a loan of £l5OO on stock and chattels, for which we paid £2300. We put into the stock £4OO, and the balance was advanced by the Manaia Loan Company, which obtained all milk cheques and we were allowed £lO per month. Within twelve mouth® we found that the farm was not satisfatory, and we paid out a considerable sum for manure and fencing wire to subdivide the farm in an endeavor to get the best results, but the sudden fall in butter-fat prices last year showed us conclusively that we would be unable , to meet our engagements, and we surrendered ourselves into, the hands of the Repatriation Department, which sold up the stock and chattels, and we were obliged to file owing to our inability to meet the claims of the Manaia Loan Company and the Kaupokonui Dairy Company.”—Star.