MEETING OF CREDITORS.

Auckland Star, Volume XXVIII, Issue 260, 9 November 1897, Page 2

MEETING OF CREDITORS.

A firsfc meeting of creditors of David "White, settler, of Valley Road, Mount Eden, was held yesterday at the office of the Official Assignee. There were present: The debtor and his solicitor, Mr A. Hanna and four creditors. The official Assignee read the debtor's sworn statement, which stated that he had been in this colony all his life and was living in the Manurewa district farming his own land up to 15 years ago. His father died in 1883 and under his will he became entitled to an income of £3 per week. This was vested in trustees with the provision that in the event of bankruptcy it was to be applied to the maintenance of debtor's family. He had lived on this income for the last 13 years. He bought a property at Otahuhu and borrowed the money from the trustees under his father's will to pay for the property and to build upon it. The mortgage amounted to £1,175, and interest on this was deducted by the trustees from his income. In addition he borrowed £180 from the trustees to furnish the house, and gave them a bill of sale over the furniture to secure the amount. His liabilities amounted to £381 17s, and his assets nil. The trustees had absolute control of the income. The debtor further stated at to-day's meeting that he had made over his household furniture, valued at £180, to his brother four or five years ago. The brother was trustee under the father's will. The debtor also stated that he had never been in business or employment. He had typhoid fever 14 or 15 years ago, which left him unfit for manual laoonr.. Mr Bindon (for Mr J. J. Craig) moved the following resolution :— " That having read the bankrupt's sworn statement requests the Official Assignee to facilitate the bankrupt's discharge." The Official Assignee declared the motion carried. Mr Monaghan dissenting. ________^__ m __