The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1907-07-17
WRECKS ON WAY.
What Records of Bankruptcy
Court Reveal.
Two Housewives" Relieved Of
Their Obligations.
ONE BARTENDER ALSO
ONE BARTENDER ALSO
Thirty-Four Business Men and
Thirteen Farmers in List.
One Hundred Ninety Three
Cases in Past Year.

| Two housewives curing 1SUo III
Kansas finally in despair tossed aside
dishrag and broom and confessed
: judgment in the United States district
court that they were bankrupts. This
| is tie information which the first
yearly report ever filed by the clerk of
| the UnitedS tates district court reveals.
| The average involuntary bankrupt re-
| turned IL cents on the dollar. The
report for tn first fiscal year ending
June 30th does not state in just so
many words that the two housewives
holnes-but that the financial burdens
were more than they could bear.
The explanation which is really
given to clear away the clouds of mis-
Jointly signed notes with their hus-
bands and that both husband and wife
found that they could not pay their
Indebtedness and entered voluntary
proceedings of bankruptcy.
One lone bartender also found that
in Kansas the mixing of highballs and
other palatable though Intoxicating
drinks was not remunerative enough
to keep pace with his expenditures
and sought relief in the bankruptcy
court.
These are two of the unusual occu-
pations which appear in the list for
the year.
Business life still continues to af-
and appears to be the occupation which
ultimately brings more men into
bankruptcy than any other. Thirty
four business men entered into volun-
tary bankruptcy in Kansas during the
year, with railroad men coming next
and numbering "a. Thirteen farmers
appear in the list.
Out of total of 16S cases both vol
untary and involuntary bankruptcy
closed during 1906, eighty-four were
those of merchants.
A total of 1913 cases have been filed for
the II months just closed and of this
number 1S9 were voluntary and 81 in
voluntary. This takes in all cases Of
this nature which have entered in the
United States court from within the
state. The state is divided into divis-
ions and referees in bankruptcy are
appointed for each one of these divis-
ions. The Topeka division comprises
all of the northern half of the state
and about 80 per cent of the bankrupt
cy cases filed are fled in this division.
A majority of the big cases are filed
in this division, though probably ma
tor portion of smaller cases of individ-
ual bankruptcy are filed at Kansas City,
Kan, because of the number of rail-.
road men employed in and about that
city. Though there never has been a
report covering an entire fiscal year 1t
was customary to make reports for ev-
cry six months, last year due to the
change in the system of reports the re-
port filed covered a term of nine
months
That report showed a total number
of 1874 cases filed from October l, 1905,
to June 3d. 1906.
This would indicate that there is no
appreciable increase in failures this
year and that prosperity is still as Sc
oUrely lodged in the state of Kansas as
it was during the previous period.
One hundred and eighty-four bank
rupts have had their affairs wound up
and closed in the court.
One hundred and eighteen of these
were voluntary and showed net assets
of $64, 400, though only s4S, 700 was de-
clared in the way of dividends to the
creditors. The total liabilities We're
1922, 300. Eleven centssen the dollar was
the average return to the creditors, this
rich promoter and his tender victim.
Seventy-eight out of the 11S claimed
that they had no assets at all and in
vestigation seemed to prove the worth
of the assertion.
The creditors of the so Involuntary
ba nkrupts Jared considerably better for
they secured about 35 cents on the dol
lars. The liabilities of these so amount
ed to $506.700 and the dividends declar-
ed aggregated $143,500 The net assets
amounted to $3.50, 900.
The big margin between the dividends
declared and the net assets is due. 20
two causes. first that the bankrupt
claims exemptions which are allowed |
and secondly prior liens of creditors
which do not figure in the declared div
idends.
been closed during 1905 showed liabiIi- |
ties of s., 900, So out of 1853. Nine show |
ed $4,000 or more, 16 from $4,000 to
5000. 36 less than $4,000 % less than |
81 900 and 25 less than $500.
Five of the nine applications involv- |
Ing large sums were of an involuntary |
nature and four of voluntary.
This leaves 6S cases of involuntary |
NJ