BANKRUPTCY.

Auckland Star, Volume XXV, Issue 49, 26 February 1894, Page 4

BANKRUPTCY.

MR SAMUEL BROOKING'S STATEMENT.

This afternoon Mr Samuel Brooking made a sworn statement on oath before the Official Assignee. He said: — I have been in business as a general agent iv Auckland for several years. My income during the last three years may have been about £600. I'believe lean substantiate this by my cash book. Two years ago I had good work, and earned about £300—chiefly by discounting bills. Bill discounting has been my principal business during the lasb three years. I had no capital of my own in bhese transactions. My practice was to present bills to capitalists, who discounted them, in some cases—numbers of them—on my endorsement. A large proportion of ray. indebtedness has arisen through these endorsements. I got my commissions from bhe drawers of bhe bills discounted in this way. I kepb a diary, bill book and cash book, bub no ledger. The diary and bill book were properly kepb, but the cash book waa not so kepb. As a rule I made up weekly. Nevertheless, all my transactions are recorded therein. About bwo years ago Mr W. F. Barber gave me two p.n.'s bearing hia signature, but otherwise blank. He desired me to raise the respective sums of £10 and £15 on them and geb them discounted, making them payable in three months, I gob them discounted at a cosb of £2 10a. Sly commission added made the total cost £3 10s. I cannob say whether I handed Mr Barber the proceeds at tbe time. I was in the habib of .lending him money from time to time and no doubb these sums were taken into accounb when we . settled up. As a matter of facb these two p.n's., were filled up for £2Gand£2s respectively withoutMr Barber's knowledge or consent. He waa made aware of this before tbe p.n'.. matured. I promised him I would take the bills up and pay the difference out of my own pocket. I failed to do so, and Mr Barber was then sued upon them. Judgmenb was given againsb him. I don't think he has satisfied the judgment. He has not taken any action against me. I filled in tbe larger sums [£20 and £25), because I wanted accommodation. To bhe besb of my belief, I have filled up Mr Barber's blank bills in a similar manner both before and after the transaction here referred to wibh his knowlodge and consent. I cannot assign any reason for not acquainting Mrs Barber with the fact that I bad filled in tbe two p.n.'s in question for larger sums than those he had instructed me bo use. The immediate causo of my filing was the action of two creditors, who gob judgmenb aud committal orders. I have no property in land, or any income from Buch a source. The only income outside of my business is £15 15s for services aB returning officer. Apart from a secured debt of £150 — bhe security being assigned book debts, wbich may or may not be good for bhe amount. I owe £750 I.s 6d to unsecured creditors, mostly for endorsed p.n.'s. My assets consist of book debbt, which I estimate to be good for £250, mostly balances of bill bransations and about £20 worth of household furniture. I have also a claim for services rendered to the lessees of the Heratauuga bush (Kennedy's Bay). My claim is £150, I have also a joint interest in Alburnia Goldming Company shares. My interest is represented by 25 shares and form parb of the security for £150 referred to.