Friday, June 11, 2010

Bankruptcy of Hentland Farmer - Ross Gazette 20 December 1893

Thomas Philip PYMBLE, Farmer, Llanfrother, Hentland, appeared on Friday at the Hereford County Court for his public examination in bankruptcy by Mr M J G Scobie, the official receiver. The debtor's gross liabilities amounted to £11605 3s 5d, but the securities were estimated at £11000, leaving £605 3s 5d due to unsecured creditors. There were no assets whatever.The bankrupt said he had been carrying on business since 1888, when his father died, and he then had assets amounting to £1230. At the same time, however, he assumed his father's liabilities amounting to £1172 17s 4d. The whole of the latter sum with the exception of an overdraft at the banker's of £764 16s 10d, he had paid in full. In addition to the other assets named, he had suceeeded his father in the possession of the real property, which, however, was mortgaged to the extent of £11000. On July 30th one of the mortgagees for £10000 seized possession of the whole of the stock and effects, and executed a sale. The bankrupt attributed his failure to depreciation in land and farming stock and to paying £400 a year as interest on money on £10000 mortgage, being £150 in excess of the present value of the property.

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