BANKRUPTCY.

Auckland Star, Volume XIX, Issue 128, 31 May 1888, Page 5

BANKRUPTCY.

George John Basten, of Belmont House, Vincent - street, lately a boarding-house keeper, but now of no occupation, yesterday filed a petition to be adjudged a bankrupt. John Foster, of Waimauku, storekeeper, carrying on business under the style or firm of J. and J. R. Foster, filed a petition in bankruptcy yesterday. Hknsy Schossler, a bankrupt, was yesterday examined on his oath before the Official Assignee, when he etated that he had commenced business on his own account as a fruiterer, etc., about three years ago, but was burned out. He started again, but having lost a, lawsuit was compelled to give up. After being out of employment for six months, frionds assisted him into a butchering business, but he had not succeeded well. He filed because two or three creditors were pressing. He further stated:—"My debts, owing to 23 creditors, amount to £175 6s 3d as near as I can make out; and all I have in the way of assets is the household furniture, worth about £10, and.some old book debts of very doubtful value." Samuel White.—A meeting of the creditors in the estate of Samuel White was held yesterday, when it was resolved, "That the bankrupt be requested to make up an account showing the details of his profit and expenditure for the last four years (especially during tho last 18 months), and. showing how the large sum alleged to have been made by the debtor in his 'contracts with the City Council had been absorbed. Also, that the Official Assignee be requested to investigate the properties held under mortgage by Mrs White, and to ascertain the date when the deeds (Parnell and leasehold farm properties) were executed, and that tho decision of the question of the furniture be deferred until June sth, at 3 p.m., to which data this meeting be adjourned." It was further proposed "That if Mm White surrenders her claim upon the leasehold farm and Parnell property, the Official Assignee be authorised to allow Mrs White the furniture claimed by hor." John Morrison was examined on hi« oath before the Official A*signee to-day when h« stated that he attributed his losses to the fact that the returns from some buildings ho had erected on the Surrey Hills Estate were considerably less than the interest he had to pay on money borrowed to erect them. He stated further :—My unsecured debts amount to £374 12s, and, owing to the great depression in the value of property, I estimate a "liability of £622 10s to secured creditors in excess of by securities held. I have absolutely nothing left in the nature of assets, except 20s worth of disinfectants, £20 worth of book debts, and the household furniture, not exceeding £25 in value. My wife had some means, but these have all been exhausted in aiding me, and I do not see the slightest prospect of satisfying my creditors.