INSOLVENCY OF SIR MATTHEW DAVIES.

Auckland Star, Volume XXV, Issue 103, 1 May 1894, Page 2

INSOLVENCY OF SIR MATTHEW DAVIES.

LIABILITIES, £281,083; ASSETS,

£32,709

Sir Matthew Henry Davies, of Emo House, Grauge-road, East Malvern, Victoria, has filed his schedule in tl>9 Insolvency Court. The cause is set down as the failure of various financial institutions, in which insolvent had invested large sums, and of which he was a shareholder. The liabilities total £281,083, of which £27,989 is due on mortgage, and £253,096 ia due to secured creditors. The assets total £32,709, leaving a deficiency of £248,376. The principal secured creditors are the Bank of New South Wales, of £27,989 ; Mercantile Bank of Australasia, in liquidation, £15,284 ; Freehold Investment and Banking Company, in liquidation, £226,558 ; Victoria Mortgage and Deposit Bank, Limited, £8,297 ; Shackell, White, and Co., Limited, £2,561).

The debts owing to the insolvent are :— Gascoigne Investmenb Company, £30,297 ; Union property, Tramway and Invesfcment Company, £10,000 ; Australian Mortgage, Finance and Agency Company, £10,000 ; Royal Investment and Banking Company, £6,750.

The losses are :—On freehold properties : Bayswater property, £16,000 ; house, Lan-sell-road, Toorak, £2,000 ; Boxley Grange Farm, £707; Malvern property, £6,569; property in King ■ street, Melbourne, £2,500; Mentone property, £2,000; Bayswater station property, £71. 2. By bad debts; Union Property, Tramway, and Investment Company, Limited, £5,000; Australian Mortgage, Finance and Agency Company, £5,000 ; J. J. Sincock, £231 ; J. S. Hobday, £225; S. F. Reynolds, £64; Victorian Investment and Guarantee Company, Limited, £500; William Reynolds Elvery, £50; Gascoigne Investment Company, Limited, £5,000; Victorian Finance Guarantee and Share Company, Limited, £3,000; Victorian Investment and Agency Company, £1,500; Davies and Price, £8,993 15s Id; C. 'S. Price, £2,993; James Watson, £1,461 ; H. G. Callaway, £250 ; Royal Investment and Building Company, Limited, £5,000. 3. On shares in the following companies :— Mortgage Bank of Australia, Limited, £15,000; Colonial Investment and Agency Company, £2,000 ; Shackell, White, and Co., Limited, £10Q. 4. On calls on shares and interest thereon—Shackell, White and Co., Limited, £2,269; Freehold Investment and Banking Company of Australia, £228,408; Mercantile Bank of Australia, £15,784; Victorian Mortgage and Depofiib Bank, £8,297 ; Victprian Land Company, Limited, £541 ; Prahan Masonic Hall Company, £42. (5) On guarantees—English and Australian Mortage Bank, £2,746 ; Mercantile Bank, £980. Total losses and expenses for two years prior to sequestration, £345,289 9a 6d.

The insolvent set down his losses between January 1, 1892, and March 31, 1892, ab £317,711; making a total lohs since January 1, 1892, of £663,001.