BANKRUPTCY.

Auckland Star, Volume XX, Issue 299, 17 December 1889, Page 5

BANKRUPTCY.

Meeting of Creditors.—A meeting of creditors in the estate of F. C. Thomas was held at the office of the Official Assignee this forenoon. There were present: the debtor and his solicitor (Mr W. F. Buckland}, Messrs Chatwin, W. F. Bucklaud (for self and Buckland and Shepherd), Hudson, and Hewson. The debtor's sworn statement, which was read, showed that he had been in business as a storekeeper and chemist sinco January, 1885. He started with about £100 clear, but subsequently sustained losses by illness and by fire, tho latter taking place on August 26, 1889. He estimated his loss at £360 to £380, called a meeting of his creditors and offered 4s in the £. Two of them demanded 20s in the £, and sued him, whereupon he filed. His assets consist of clover, turnip and other seeds at Pukekohe, Cambridge and Hamilton, a spring carb and horse, and iron tank ab Pukekohe, altogether estimated to bo worth £45, and book debts believed to be good for £60. The household furniture he estimated to be under £25 in value. Unsecured liabilities amounted to £520 11s. It was resolved on the motion of Mr Hudson, seconded by Mr Chatwin, "That the horse, cart, seeds, and tank now at Pukekohe be sent bo Buckland and Sons' for sale by auction, and that the book debts be collected through the Official Assignee."

, John Howland has made a sworn state-1 ment to the Official Assignee to this effect: j He had been a'bush contractor on and oof,S f , for the last eight years, but never had any camtal to speak of, and rarely made mac-e than moderate wages. A sub-contract which he undertook about eightmonths ago proved to be a bad speculation and incurred more than half of his present liability. Two or three other jobs which he had in. hand at the samo time also proved unremunerative, and he had to make a compromise with his creditors. The payment as agreed upon had not been made, and recently judgments were obtained against him for money due. He estimated his unsecured debts at £410 17e 6d and assets as follows: 5,000 ft sawn timber, 4,bullocks, tools, and sundries, £90 ; money due under contract with James Lavery and paid by him into Court at Te Aroha, £57 ; and household furniture, £25.