THOS. J. DWYER'S BANKRUPTCY.
BANKRUPT PUBLICLY EXAMINED.
At the sitting of the Wairarapa District Court on Saturday, Thos. J. Dwyer, phonograph dealer, of Masterton, was publicly examined. Bankrupt, under cross-examina-tion by Mr Robinson, who appeared for certain creditors, stated that he was adjudicated bankrupt on 7th December, 1908. When he came to Masterton in 11)02 he opened in business as a cycle agent with very little capital. Two years later he borrowed money from his father-in-law, Mr M. C. O'Connell, the amounts totalling £3OO. In November, 1904, he bought a section for £SO, and borrowed £3OO for the purpose of erecting a housa on it. The house cost £325. The property at present carried mortgages totalling £7OO. In 1904 he entered into business as a phonograph agent, and subsequently had certain transactions in the purchase and sale of motor cars.
In order to shorten proceedings, a written statement given by the bankrupt was put in as evidence, together with a statement of assets and liabilities, showing an estimated deficit of £B3O 7s 9d.
Further examined by Mr Robinson, bankrupt stated that the books he kept were a rough entry book and a ledger. He did not keep a cash book prior to May, 1908. His transactions in the motor-car business showed the cash receipts to be £540, and the expenditure £1,075, two cars being, however, also sold with the business. He accounted for the large sums paid in and out of his banking account firstly by moneys received for and paid out on account of motor cars, secondly cash borrowed and repaid,thirdly cash received for investment in betting transactions and paid out to those entitled on commission. Witness trained a pony for himself and one lor another person, having his looseboxes at home. Cheques were some times drawn to a number instead -of a name. Two large cheques received in September, the amounts being £"JSB and £l2B, were not put through the bank, but posted direct to Magnus and Sanderson, motor-car salesmen. This was not witness' usual method of dealing with cheques. He did not recollect sending cheques in the same way to any other people. Witness said he gave all the information required to the Official Assignee at his meetings of creditors. On September 4th, 1908, witness borrowed £7O on the security of a letter agreeing to execute a bill of sale over a mars. In October a bill of sale was ■ made out in pursuance of the letter. This closed the examina'ion.
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Wairarapa Age, Volume XXXII, Issue 3126, 1 March 1909, Page 5
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414THOS. J. DWYER'S BANKRUPTCY. Wairarapa Age, Volume XXXII, Issue 3126, 1 March 1909, Page 5
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