Meeting of Mr Clayton's Creditors.

The first meeting of the creditors of Samuel Clayton, who was adjudicated a bankrupt on creditors' petition on Monday morning, was held at the Supreme Courthouse, in the afternoon. Between 30 and 40 creditors, or representatives of creditors, were present. Mr J. VV. Jago was voted to the chair. The following claims were then lodged:— Messrs James Horsburgh, £13 8s 2d ; L Rother, £528 2s ; E B Smith, £241 19s 7d ; Briscoe and Co, £129 4s 6d ; A Beck, £1 ; John Lockston, £4 103 ; Samuel Lister, £8 14s 5d ; Michael Houlahan, £156 15s ; George O'Driscoll, £77 10s 3d ; Thomas B Jones, £53 0s lOd ; H W Smythies, £48 4s 2d ; W H Churton (National Bank), £498 17s 8d ; Smith and Smith, £49 15s 4d ; E D Day (Bank of New South Wales), £406 3s 8d ; F W Coxhead, £12 4s ; G H Marsden, £27 6s 3d ; S W Seavey, £294 8s ; T Black, 7s 6d ; Louis Hintz, £24 Is ; W Asher, £202 2s 7d ; C Galbraith, £20 19s Gd ; S Kohn, £15 ; II Benjamin, £150; S S Hutchison, £L1 7s 9d; P Shepherd, £9 15s Cd ; Robinson and Co, 17s 6d ; Sew Hoy £2 2s 6d ; Pergusson and Mitchell, £14 7s 9d ; Union Insurance Co, 10s 2d ; AJ S Gibbs, £237 2s lOd ; H Millar, £30 165 ; Bath^ate a;id Buchanan, £124 Is lOd ; John Bathgate, £230 ; Hardware Co, £75 10s 9d ; Findlay and Co, £67 15s 3d ; A and T Inglis, £4 12s 4d; Thomson and Co, £8 11s Id ; Tapper and Lee, £819 4s lOd • Henry Owen, £25 9s 8d ; Herbert, Ilaynes, and Co, £25 14s 10cl; GT Clarke, £18 10s Id ; JA D Adams, £60- Morning Herald, Us; New Zealand Woodwaro Co £13,123 13s 6d. (This firm claimed £15,057 15s 6d, subject to a reduction of £2534 2a security held by them, and they proved for the balance £13,123 13s Gd). II J Bacon, £110 16s ; Evening Star, 15s ; Beck Bros, £24 ss ; A T Dunning, £8 16s lid ; Mollison and Duthio, £8 7s 8d ; II Guthrie, £4 3s 2d ; Brush and Broom Factory, £97 15s 6d ; William Conyers, £300 ; Bates, Sise, aud Co, £20 2s sd. Mr Solomon, who represented the New Zealand Woodware Company, said that the debts for which proofs had been put In amounted to a little over £20,000. The Chairman : I presume the business that we have now to perform h to elect, a creditors' trustee. Has any gentleman a motion to submit ? Mr A. iNor-is proposed that Mr John Findlay (of Findlay anil Co.) be the creditors' trustee. Mr S. lIuTCiiiNSON seconded the motion. Mr J. P. Peake proposed Mr R. H. Leary as creditors' trustee, and Mr Wm. Asiikr seconded the motion. Mr Truman said that ho understood Mr Clayton would return to Dunedin in a few weeks. Could not the meeting be adjourned until they saw if he did return? Mr Inglis: Will he return by Easter ?— (Laughter.) Perhaps the attorneys can tell us. Mr R. Ha worth said he believed that Mr Clayton would return via Sydney. He was in Sydney to-day. The Chairman, in answer to a question, said : lam nstructed, and I beliovo the statement is correct, that the creditors cannot call on the debtor to make a tatement. It must be- done through the trustee, who as power to interrogate the debtor and get from him such information as is necessary for the adjustment of the estate. , Mr Stevenson : I apprehend that the proper course wall bo to postpone the meeting for a certain time for the purpose of seeing whether the debtor will return. The Chairman said that an adjournment would not put them in a better position ; he thought it desirable to elect a trustee and to take possession Of the estate as soon as possible.

Mr Haworth said he received information from tho debtor from Auckland last Saturday. Mr Inglis (to the debtor's attorney) : Did a man called Mouatt, who came down from Auckland, call on you ? . . Mr Hawortii : I never saw him. Mr Ikolib : Did he leave anything on your desk? Mr Hawortii : I have no desk.— (Laughter.) Mr iNQiiis : Be careful, now. Mr Tlatiortii : I hope we have nothing to fear. Mr Douglas suggested that two trustees should bo elected, and that Mossrs Leary and lundlay be the tn ah- e SOLOMON was instructed by the largest creditors -the New Zealand Woodware Company— to say that as the estate was large, and it was necessary that economy should be used, they were opposed to tho appointment of two trustees. n «~m?a Mr J. Sinclair : The creditors can fix the comroisSl °Mr Solomon :Of course it iB in the hands of the creditors, but you cannot expect two men to oo vie work for the same amount as one would. The motion that Messrs Loary and Findlay be appointed co-trustees was put, and a large majority oi those present voted in favour of it. ...--» Mr Solomon pointed out that under subsection 7 of section 48 of the Act resolutions must be carried by a majority in number and value, and that as Mr Guthrie who represented more than a majority in value, had voted against the motion, it could not be ° a The Chairman concurred in what Mr Solomon had said, arid declared the motion lost. , Mr Leary : I may state that, if Mr Outline objects to my nwne in connection with this matter, I did not want to put any obstacle in the way. It he objects to my name I ask permission to have it withdrawn. , .... Mr Gutihue said he had no such objection. I The motions to elect tho gentlemen proposed as trustees separately were put and lost, a majority in number voting against Mr Leary's appon.tment as I sole trustee, and the majority in value, including Mi Guthric, against Mr Findlay's appointment A Creditor : What would Mr Guthrie like, Mr Chairman ? I would like to know that. Mr Inglis said that if Clayton was ™_ Sydney ho would tap the wire and guarantee to have information as to his whereabouts in two days. Mr Stevenson proposed that the meeting do actjourned. This motion was also lost, and The Chairman pointed out that a deadlock had arisen : that while Mr Guthrie could not carry any resolution, he could prevent any resolutions he was not in favour of being carried. . Mr Fitcuett suggested that Mr Guthrie should state his wishes. , „ Mr GtmißiE said he was quite agreeable to mi Leary acting as sole trustee.— (A Voick :Ah !) I The Chairman did not know whether he was in a I position to submit Mr Leary's name now. It had been put to the vote already. Mr Solomon : There is nothing to prevent the meet- | ing stultifying themselves if they so wish. Sir Pbake : How would the name of Mr William Brown do 7 Mr Hutchison : Ho is the auditor for the trnn wno are the principal creditors. Mr ISQWB suggested that the matter should he left In the hands of the Court and the meeting be adjourned for a month. Mr Clayton might then be back and able to defend his case, which wanted defending badly. Ho did not say this on account of what was owing to him, but ho spoke for truth's sake, aud for the sake of his fellow-citizens.— (Laughter.) The debtor wanted exposing, and he (Mr Inglis) would expose him as long as he was able to speak. Messrs Truman (Briscoe and Co.), and M. Pym were next proposed as trustees, but these motions were also Mr Inglis : Is there nothing before the House ? I propose Mr Stephen Hutchison. Mr Hutchison : Don't do anything 1 or the sorfc. Mr M. HuifK said that, seeing the meeting was mthe hands of one creditor, and that the general body of creditors could do nothing, they should leave the matter to -the Registrar. There was no uso wasting the whole afternoon. Mr Fitchett thought there waa one way out of the difficulty, though a risky one, and that was to allow Mr Guthrie to appoint his own nominee, and then ask the Supremo Court to upset the appointment and appoint trustees. Mr Gotiirie : We have no desire to appoint a nominee, we are content to leave it to the Registrar. Motions to elect Messrs C. S. Allen and R. H. Leary co-trustees, and Messrs G. O'Driscoll and R. H. Leary were made and lost. Messrs A. Inglis and W. Guthrie were proposed as joint-trustees, but Mr Guthrie dodined to act. Mr Trueman proposed, and Mr G. a. Marsdkn seconded— " That Messrs William Conyersand R. H. Leary be co trusteees," was put in and carried, Mr Inglis asked if the creditors could get information about the estate. * The Chairman: We appoint trustees to do that. Mr Ingms : Then we will have information by and bye-it is badly wanted. On the motion of Mr Clark, it was resolved-" That the trustees' commission should be 1 per cent, each on the amount the estate realised," and on the motion of Mr GimiaiE, it was agreed, also, to allow the trustees such clerical assistance as they thought necessary. The gentlemen who had been elected as trustees' consented to act, and the meeting was then adjourned. __„__— — _