Failure of Mr S. Hague Smith.

Auckland Star, Volume XVII, Issue 201, 27 August 1886, Page 3

Failure of Mr S. Hague Smith.

Tub following report appears in o Sydney newapaper of a late date i — Many of tho butinesa peoplo of Sydney will learn with no little surprigo that Mr S. flaguo Smith, manager of the Now Zealand Insurance Co., and a supposed wealthy man, haa assigned hia ostato for tho benefit of his creditors. A meeting took place on Friday last, which was a very stormy ono ; Mr Dickenson (of Leaj.'month, Dickenson) pretlding. Mr li, H. Reynolds, ono of tho creditors moved, "That Mr Smith bo made insolvent in order that full particulars of his doings in business could bo elicited." The motion was vtry angrily discussed, and termfnated in an nfsignment being taken by a mujority of soventoen to eight. Tho following ia Mr Smith's statement of liabilities and assets : —

Liabilities.—To amount owing to creditors holding socuritioa, £4,016 I to amount duo to unsecured creditors, £13,781 9s GJ ; contingent liabilities exclusive of a numbor of over-due promissory notes held by Bank of New Zealand, and not debited to Mr Smith's general account, £8,833 Ss ; to balance, £293 8s 6d : Total, £15,090 12s Bd. AK_Ta.—By equities of redemption in tho following properties : Woodford proporty, £3,8.7 Ss Gd ; Brush Farm, £5,792 10s; Lyndoch House, i' 1,500 ; Luke's Mill, held by Bank of Now Zealand. £750: total, £11,929 18s Gd. Land at Goulburn, £200; bills rocoivablo, £512; bills receivable hold by Loudon Chartered Bank, £82 1S» 7d ; 50 Bank of No •> Zea lan.d shares, £1,219 15s ; furniture at Woodford, £.GSO; furniture at private house, £150 ; goods hold by partios (creditors) ns 3ecurity, £1,734; goods in ttoek nt cost, £1,519 G-) .Gd ; sundry debtors, £G92 12s Id : total, £18090 12s Sd.-James C. Taylor, Accountant. 12tj) August, 188G

Wo learn that tha New Zealand Insurance Company of which Mr Smith was ogent do not loso by tho failure.

Tho arms of tho A Troop of Auckland Cavalry are called in by advertisement in onother column, Mombors failing to send jn thtir arms as desired aro liable to bo fcuod under the now rogulationa.

Tho following is the rota of Justices who are to attend at the Polico Court for the week ending September, viz ■— Aug.liO, W, C. Lyon. J. McFarlane, XV. McCullough ; Sept. 1, C. C. Macmillan, W. P. Moat, and R. W. Moody ; September 2, „. U. Nathan, J. Newman, and E. Parsons ; Soptombor 3, T, Peacock, P. A. Phillips, and W. Powell; Soptembor 4, F. L Primo, A. G. Purchas, and C. King ; September 0, B. Rochefort, J. C. Shsrland, and R. Walker. Substitutes ore allowed.