BANKRUPTCY.

Auckland Star, Volume XVII, Issue 218, 16 September 1886, Page 2

BANKRUPTCY.

At tho Olliciul Assignoo's office yesterday, an adjourned mooting of tho creditors of John Houghton, solicitor, was held. The bankrupt, under examination by Mr Ivey, said that ho owed tho Now Zealand Timber Company £100 and tho Waiwera Hot Springs Company £150. He gave a promiHsory note to tho New Zealand Timber Company for tho amount now elaimod by Mr Harper. Ho- had been in hopes of paying off tho Now Zealand Timbor Company'd accouut by contra ; ho hoped Mr Ma'.colmEon'a indebtedness to him would bo allowed against his. Mrs Malcolmson was bis client in certain transactions with tho Timber Company. Mr Ivey said there was £1,0!'.") to account for Tho debtor said he kept no books, but ho estimated his annual expanses at £3.00. Mr Ivey moved "That us it appears that after examination of tho bankrupt by tho Official Assignee, and after allowing equivalent to £100 per annum for living exronses, thoro appears to bo a deficiency of £'.2,000, that the bankrupt bo compelled to givea statement in detail." Tho motion was not fecondod, and Mr Cooper moved that tho meeting should adjourn for a week. This was f«conded by Mr Oliphant, aud ogrocd to. Mr Ivey said if ho did not get a proper statomont ho should object to tho bankrupt's discharge. George Howard Layers, a bankrupt, was examined on oath yesterdoy before the Official Assignee. He said ho commenced business in Auckland in ISCS, and started with a capital of £SOO. Towards the end of 1883 he got involved with a bu^h contractor over whoso property ho licfi a mortgage and to whom ho lent moDey Towards the end of 18S3 ho was involved to the amount of £3.000. This, and a forced realising of bills of sale bold against other parties, and other causes, caused his loss of £4,000 during ths year ending Feb.,lSS4. At that date he called his creditors together, and a compromise of 5a in the £ waa agreed to. He recommenced business soon after, and with variable success, but owing to the prevailing depression ho had to seek the protection of tho Court. The schedule of liabilities included old book debts of two yearaago.araountingto £3,57117s Id against a total unsecured liability of £4,000 11s. The secured debts amounted to £1,615, and ho estimated tho value of the securities as follows :—Vacant allotment in WestQueonBtreot at £I,SOQ, allotment in West Queenstreet at £150, and furniture at £500; total £2,150. Tho encumbered estato was as follows:-Stock in trado, £70; book dobts, £293 6a lOd (estimated to produce £160); total, £755. He had kept a proper sot of books.

Anthony Jopeph Thomas, agent, Auckland, has been adjudged a bankrupt. His statement shows tho total liabilities to be £130 7a 6d ; a?eets, £15 ; deficiency, £121 7a Gd. The secured creditors are Messrs Brown, Barrett and Co., who have a mortgage on 50 acres of land at Tauranga, the estimated value of which ia .£IOO, and the amount of mortgago£94, andC, Williamson, mortgagee on two housos in Howe street, the estimated value of which is £450, and the amount of debt £525. His largest unsecured creditor is a grocer, for £25.