THE BANKRUPTCY OF A NETHERWASDALE FARMER.
MR. HOUGH, the Official Receiver in Bankruptcy for the district, which includes Whitehaven, has issued a report as to the case of MR. GEORGE COWARD SOUTHWARD, Mill Place, Netherwasdale, who was recently adjudicated a bankrupt on the petition of a creditor.
The liabilities are £268, and the deficiency £264, the only asset being a book debt of £4. The debtor only returns two debts for small amounts, in addition to the amount owing to the petitioning creditor.
In 1886 the debtor commenced farming at Bean Croft, Broughton-in-Furness, with a capital of £300. In 1892 he left Bean Croft, and took the farm of White Ain House, Irton. He then estimated his capital at £230. In 1894 he left Irton, and went to the Gill Farm, Netherwasdale. His capital was then about £150.
Since he left Gill Farm he had been a wood-cutter and carter. The debtor stated that in 1894 he got £100 from the petitioning creditor, but he did not regard that as a liability. He alleged that the money was a marriage gift, although he admitted signing a promissory note for the amount.
He states that during the last seven years he lost stock by death to the value of £184. He states that the furniture in his house belongs to his mother, MRS. MARY SOUTHWARD, of Millom, but he admits that it has been in his possession for the last twelve years.