BANKRUPTCY.

Auckland Star, Volume XIX, Issue 23, 28 January 1888, Page 3

BANKRUPTCY.

T P. ISSNAKB'S BANKEIJPTCY,

Jok Pa^b Lekhaed, a bankrupt, un(}er nmiVfm^f &* Official Assign^ staged Jfaathe was a farmer and dairyman. In 1882 he was farming Potter's paddocks^ ' Epsom, and at that date transferpd a,feou ■Minn' worth of live stock from that i !to A Buckland's farm at the' Three. CS which he had leased for seven years .f rental of £450 per annum.. Shortly t*S another paddock, was added at % rental of £150, includincr taxes, i/that *ixie he was'free from debt. Iq 1 Sovpnib.fr, 1384, busings having p i: o fi pered ■^-th him he extended his operations r«d leased a farm at Manßeve for five years 2 w Zmti rental of dESaQ. *He also took t some adjoining land at a quarterly rent f £10 or il%. V\ 85 $ a dairy °- the business, which Was thenproiitabje. ■fffl readily sold-the produce- from 200 cows, v«?r business decreased and bad debts wore ade " Last/June he'lost the Hospital niilk which he had held for some years. 1 Bnrine the last 12 months lie had Iqso, about iSlOinbad debts, and had sold cows aj; £b \ U&\ cost £11 or £12 each. His land was _■ only worth one-half tho rental whiph Kd j» p<\y- The^e cpmbiqea losses } W fcompelied him to filg 'Amongst ■-k&''bor*e*j were two racers Clogs and ' fitotQver: The- first is • jointly owned,; :Sdtbe latter was his, own private property. fla also owned Mayflower, Moonlight, "■jaWwd .Taxipr.-/u}l JRWrrtt feiijhe '■two-farmer and half. interest; m the two •'litter ' His wife ( bought the furni- ' L^ S Q"all9wec} her $\ per >re.ek for kaepff_i ihe books. The mare Clogp.\ypn..the Cup last Saturday, b,y which he gained £25 which would be an asset. His assets - • areiivfc: "ftopk and farm implements,£633 Is ' a 7. -boob debts, £292 (estimated tp produce SaOV;1 /racing stock, £70: total, £86Q Is feii '®ke unsecured liabilities amount to of creditors in the bankrupt, flstateof Alfred James-Matthews was held vMterday.- Efgbti creditors .were present.- ---■ ;BT %A appeared on, behalf of ■'■%■% Hr&ali:"and Mr. Button for the ■ deib'toif T}»f> ffi?!?^ under exaniina- '' tIM-iy %r Bu'titon gave; .pavticukrs of^ several l-usipess, fraflsactions. He said^ never nwde profit jn, the whole cSMMWftiBIBIO^ 8" Hadpeyer prepared '. -:l^^Silahce sheet wliile he wa,s in business, jn consequence <?i ilLheal^h he had been cSnerfc engage a baker. Towards and this made the business more, remunerativa"'ftiOather pfiid £14 for the .trade B ft 4:^til iem t0 Pm* .was : Still ow-ing '{or t^e ea,rt. . , '-''' Mr'H.?#^th read-Croin a statement supfedf t^'Mf TftOfPe since the sth o/ 4ftyuary, fho Ml lfa,t.th,ews-s, senior, clajm was • set "down at jgg? 7s 4d- He pointed put that 'Stie'stnteniant of assets and ii^biljties, the father's claim was put down at ±.127 10s.

f'Thedebtor explained that the £39 7s 4d. yas fwv niqn.ey.* advanced in the business, th.e:%lpee was qiad.e up frmn, money idv^cfid tfl pujid a, %use fpr. the de.htpr.i E.xaiaff'it'iW 9PH9?fISI: Witness Ipst m^jk 'by bai debts a.n.4 alsp by a horse to^'.£h> great competition "in. t^ade |sf!%uge| him^s,", Ji^ fa^er rei^qyed 1 |ra^e/ii!^ft?#'. the d,ay before hf> filed: He r|m?nii?er'ed 4 telj^*ftg i Mr. Hall th.af- the ' reasotfne cbulifl not oay was on acjjqu-nj; of some friend to. whpjn he had advanced £50 <mnj*,ta a "trciuble reg£ff^jng fe 1!^ ee(^s•Bftbliipaid, £20 on that account. It wa^ for hoj-seliold accounts. That was the $jsn'tO'Wl)6m he had lent the money. t -^$1 $. Jfiatlhews explained" that money fflqfcVHßM? -to *he deb-toi-'a wife, and the defer |a<i advanced the £20. thinkinjg' it j isoujd. fe;sepaid., Owing to tropble with; L Ihg-tragtees th_\ :mo,ney" had not been re•"^ifJi'T .aqfii C j a" c %i.l. '■'■■- ' ; 1 Sjamieation continued s When he gpfc Ih/sefj^fromMe^srsGeeandßottei-hewashob solvent, bji agreed.tpp.ay £1 per weeje. He did noiknow-fpur mpnfejis ago that hjis aMr^ere,so invpjved,. ■*:/■ •.I"i,answer tQ a creditor, Mr- Lawson ex-

plained that ...Air. Matthews, senior, wps .o i ]4^e,,.iu"-^fied ; . in. f eijnpying tho, :t,rade ''ttensilsi'asiheyjiad only been lent to tho, debtor. "~ ......... vOFihe'motion of Mr Hall, it was re T solved to adjqurrTtl\eT meeting for 14 days, ibV Assignee meanwhile to realise the ufiktate,;! snijjhe'-g ■'..-.'... • •:■* :

A-geetjng of Jbe creditors jji |he estate of CraftesO; Srciv/n, upholsterer, was lielcl yesteuday afternoon in the Official Assignee's, ' office. There-were present; Messrs Nash (Schmedes and Epbsloh), Gabriel Lew^s, Winks (Winks and. Hall), Tonks (B. Tonks 1 and C<£),'Mitohell,Dr. Mo Af thuv (Hoare). M faides appoai'ed for- the creditors as legal adviser; ''••:•: ' ":

MkQ?ob£s, of Tonks and Co. ? put in »yriti|en statement' of his firm's dealings ■ with the bankrupt; ": - Mr Calder'stated that he had examined the sfeafiettieutl v«Fy oarpfnlly,' and he had '"wine 'to..the conclusion that'the creditors '•-"Would hav4.considerable difficulty iripb- ■ taining'a quantity* of goods wliiph the bankroptftaU-left with B. Tonks and Co., •attd a portion'of which that-firm plaimed a* their own-property, He would ad> ;*% the creditors to waive any "claim j*M the InglishLniade portion -of the goods, 'fish* considered !they had no claim on Wlßm,'but to take actioh'to recover tlie fe4lano& of the goods whiqh were New Zea«B(Jraad(i.J I imWi; ' ■

.JitTonks explained the position of his ma ii regard to -thp'-New 'Zealand fuvni*«e Whicb- the creditor* claimed. They Uw finn) had taken their action in rp •oajugcta deliver-:^p the sjdods on the adw»6fthiairsolicitois. - ■' ;; , Mr. Gabriel Lewis argued thafe the crediwould have" a yery good chiaTice of iftovering the g^ods, aiid lie was ii^ favour w-anless Tonks and Co. deliv^ved up the ?X)ds on application being made foi* tliem, SgH creditoifs should 4 take' legal aebidn to them, ' ° ; i j:'-----,1? ranswef to the Official -Assignee, ■Mr «nks, stated that ho had no offer to make 9^ehalf ; ofhkfirm; r ' :I :■ • \^mer. considerable discussion the 'follow-. mff resolution was propdised byllr 6. Lewis ■ ;;'£S?s on*h?>- tff % -Wmtej J-^'T-hat the ;..jPg»°« teiinguish ailtila%s to the Bng■!"S?iM _ furilifc»r9. consigned to Messfa X t'r %>-Pro^ded that they aeoounfc tU TA anf°vaf & the Oiiicial Assignee, .-.".Aaotlgndmade furniture of the bankr. Wfcaow-ioitheir'pbssession.v The regolu, y^^^Wied, and the "Official Assignee thL- 7?^ d wWte to ihe iirm informing. action. - wo ™ Gffi^.lf the oveditor#; the MHa5 A%"Se -ptothised 'that immediate fefc ?Ift beMken'by-■ hhn to see abbqt SS^ h M*; a nd/Mrs Brown U p for qr-jeoove^ring any moneys they