A SERIES OF LOSSES.

Temuka Leader, Issue 2720, 4 October 1894, Page 4

A SERIES OF LOSSES.

A Wellington telegram says frrrThe .bankrupt estate of Andrew Young shows liabilities £1532 with no assets. The debtor., in his statement, says that in 1878 he had acquired property of the value of ! quite £15,000. He had property tax on £12,000. An action brought by a passenger who had been injured iu a coach accident cost him £1250. Iu the same yoar a lawsuit was brought against him by the trustees pf Robt. Port's estate. It cost him £450, aud he lost another £BOO through depreciation of mortgages, which he held in the same estate. The Oolliugwood Gold-Mining Company cost him £7OO. He lost £BSO in the West Wang&nui Coal Mining Company, and £2soiu the Wellington Opera House Company. He paid £2poo for a section oh the reclaimed land at Thorn/Jon. and had subsequently to accept £IOOO for it, and he lost £BOO in the estate of P. Hudson $ Co. The racehorses Poet and Mjo.erya jfejl jujto hjs hands, and racing them ©u« sW>u $e losjt £JQ(). Next he j secured a coaching from TauI rauga to the Thames, but met with misfortune aud sold out after losing £BSO. In 1887 he became security to the National Bank for hia sou and partner for ithe purchase of a passenger-carrying pltfHfc for wlelijnglion, The business was a Kucceas at tirsfc., 'btfi jfchp palace cirs, which his son had invented, being prevented from running by Act of Parliament, the busi loss failed, and he lost £#soo over tho venture. By this time he bi\s!}WpMß<id nearly everything to pay off the guaranteed .9j//>rdr«ft to tho National Bank, amounting tb'«£3#Qo,- Hojost over a mail contract betweeu and Hokitika. Altogether he had borrowed £10,750 on his properties. He |had adjudicated a bankrupt ou the petition" ,of J,!?. 6 Nfttianal Bank. The debtor had no o'fi'er po laajU*.