STATE OF A FARM.

Taranaki Daily News, 15 September 1922, Page 6

STATE OF A FARM.

PITIFUL CONDITIONS ALLEGED. TWO BANKRUPT BROTHERS. “I inspected the farm yesterday, and the first thing I came across was a dead cow at the gate. The cowshed I found deep with manure and in a very dirty state, whilst the fences on the farm were in a bad state of disrepair. There were nine cows dead, whilst those that were alive were not dairy cows at all, but a pack of culls.” These were a few of the graphic touches introduced in the cgurse of a verbal report given before a creditors’ meeting held at New Plymouth yesterday in the bankrupt estate of George Dale Parsons and Lewis Benjamin Pardons, farming at Awatuna as Parsons Bros. This harrowing description of the farm was evidently resented by one or two of the creditors, who knew the farm, for one retorted: “It’s a crying shame to say that! How can you expect the cows to do well without feed ” The gentleman who had first spoken replied that he was a registered judge of stud cattle, and could claim to know what he was talking about. This was but one of the little difficulties that confronted the meeting, over which the D.O.A. (Mr. J. S. S. Medley) presided. Both bankrupts were present with their solicitor (Mr. A. G. Bennett). The bankrupts’ statement, which has already been published in detail, showed that debts owing to unsecured creditors amounted to £lO5B 18s fid, and secured creditors £5341 Ss fid. less estimated value of securities £7830. Assets were shown as surplus frorA securities in the hands of secured creditors £2488 Ils fid. Tt was intimated that G. D. Parsons had no private debts, but the private statement of L. B. Parsons showed unsecured creditors £69 12s 6d, assets nil. Tn the discussion that followed in reference to the state of the farm. Mr. Bennett admitted that the land had been overstocked, and could only confirm what had been said about the condition of the cattle. The land 'tself though was situated in a good locality. A statement made bv the bankrupts under oath was to the effect that they had leased the farm consisting of 241 acres 1] perches, from Mr. Charles Morris in 1913 for seven years with a right of purchase clause. On the expiry of the lease, having no capital, they borrowed £2450 at 7 per cent, from Mr. C. V. Stpad nf Stoke, and later borrowed £1350 a+ 10 per cent, from Mrs. C. R. Stead of Waitara Fhe was to allow them £25 n month +o live on and pay I for Mnzine to the extent of 56 cases ! for the engine. shed= manures, rates and interest. As thf first mnrtgage p had advertised the place for sale i through the registrar of the Supreme Court +hev had to file

Answer'ng a Question, the bankrupts stated that had nn+ received the

£25 advance for the last four months and had to borrow from the mother in eoTiseoucnce. Last reason they had milked 67 cows, which returned about 11 OOOlbs. butter-fat for the season. Mr C. R. Stead explained that the place had been going hack all the time, and he therefore could not nfford to pay ?nv more. That was the reason why the advances had not been paid for the last few months. A cross-examination of the bankrunts followed at Mr. Stead’s interrogation. the nnrnose of which was to clear the position in regard to the advances borrowed, the rate of interest charged, and snndrv matters in connection with debts incurred, the whole of which was of an involved character. Mr. Bennett then moved that the bankrupts’ discharge he facilitated. He pointed out. that they had done their best Abut the rate of interest had been against them, though ho did not blame Mr. Stead for this. Again, they had had bad luck last season owing to the failure of their turnip crop On the whole he eons'dered the Parsons brothers were deserving of sympathy

Mr. H. Wills seconded the motion, which was carried.

Details of the stock at present on the farm were given as 35 cows, besides 9 dead. 14 head of young stock 14 heifers and two Jersey bulls. Previously there Siad been a total of 101 head on the place. Mr. Bennett then moved. Mr. H. B. Gibson seconding, that Mr. Stead be instructed to offer the land for sale by auction, as already advertised, and to sell the stock. The motion was carried.