WILD EXTRAVAGANCE.

Wairarapa Age, Volume XXXII, Issue 10150, 21 December 1910, Page 3

WILD EXTRAVAGANCE.

WENT THROUGH FORTUNE OF £OO,OOO. No sooner iiaci do conic; to his inheritance that John Gay Clarke, iormerly trading as an East India nn-r chant at Bishops-gate-street Without, London, commenced to squanderU, and finally found himself in the bankruptcy court. When now lie applied for his discharge it was stated that on £3147 aTHvidend of lis in the -ound has been paid. It was said that debtor attained his majority in 1893, and under his father's will he then r-»eei\-ed about £60,000, the hulk of -.vhicli he squandered in gambling and extravagant living. After October, j 003, lie traded in partnership with another as East Indian merchants, but in February, 1904, the business was fold to a limited company, debtor becoming one of the directors. He attributed his failure to extravagance in living, losses on Stock Exchange speculations, and betting and gambling. During the three years preceding the receiving order, said the Official Receiver, Clarke lost on Stock Exchange sj epilations about £2OOO, and by cviicr forms of gambling, £IOOO. Duriag the same period his household Mid personal expenditure amounted t0£9112, £9112, and interest charged on loans to a further £4500. On the /round that debtor had been "wildly exlravagant," the Registrar suspended the discharge for three years.