SCRUPULOUS NORFOLK DEBTOR.

Auckland Star, Volume XXXII, Issue 168, 29 July 1901, Page 6

SCRUPULOUS NORFOLK DEBTOR.

CREDITORS PLEASANTLY

SURPRISED,

(From fche "Eastern News," May 25, 1901.)

The creditors of Mr 0. W. Goodson, iwho made a deed of assignment in October, 1879, when ho was carrying

on business at Brandon as a corn, eako and coal merchant, were called togethci to-day at the offices of the OJTu-ial ]{"cciver in Bankruptcy at Norwich (Mr M. P. Gould) under extraordinary and very pleasant circumstances. Mr Goodson's liabilities were originally estimated at £5100, and the dividends paid amounted to S/5 in the £. Eight or nine of the leading creditors wore present to-day. Mr 11. G. Barclay, (is representing Barclays, Limited, presided till the arrival of Mr S. Gurncy Buxton, who occupied the chair during the rest of the meeting.

The Official Receiver said the debtor's deed of assignment was dated October 2nd, 1879, and in the course of the following year dividends were paid am-ounting-'to 8/5 in the £. Mr Goodson, who had a large family, thought the test way of recovering1 himself would be to emigrate to New Zealand, and •he did so very shortly after making the assignument. Ho long ago as the Bth of November, 1881, Mr Goodson •wrote him a letter saying that, having started in business again, he entertained the hope of one day being able to make good the deficiency which ihad arisen on his estate, and he asked to be supplied with a full list of creditors showing the amount, of dividend •which each had received, and the balance which, as he considered, was still morally due to them. From that time till early last year Mr Gould heard no more of him". Then another letter came to hand, in which Mr Goodson referred to his former one, and said that he- desired to explain the circumstances which had prevented his carryingl out the resolution he had announced. It seemed that for a time Mr Goodson was successful, but there came a wave of depression over New Zealand, and amongst a large number of other persons in the colony he unfortunately failed again. He (Mr Gould) believed that Mr Goodson failed with some considerable liabilities. A third time he started, and being successful he felt it to be his first duty to make good the losses which had 'been sustained by his New Zealand creditors. Eor years he bent his efforts in thai direction, and finally he succeeded by three instalments in paying everyone of them 20/ in the £. A meeting of creditors was held on the occasion of the payment of each instalment, and from a full report of the proceedings which had been sent him it seemed that there were several very congratulatory speeches, and that the creditors, in recognition of this most honourable conduct, made him a very handsome present. (Hear, hear.) Having cleared of his New Zealand creditors, he then ■wrote to Norwich to say that he was still prospering, and his old resolution to make good the deficiency sustained by his English creditors 20 years ago was still in his mind. He again asked for particulars of his liabilities. On the 24th of December Mt Goodson wrote enclosing a draft for £686' 16/6 as a first instalment, and asked Mr Gould to call a meeting of his creditors for the purpose of explaining the circumstances, •and telling them why so many years had elapsed before the carrying out of his resolution. Two days later he wrote to the effect that his first letter was written rather nurriedly in order ,to get the draft off bef<k^ +he Christmas holidays, but that ha feed since ihad an opportunity of looking a little more closely into his accounts, and he found that his past season had been rather more successful than he had thought. He therefore enclosed a further draft, bring-ing- up the total remittance to £992. He asked Mr Gould to call a meeting of his creditors; to pay all creditors under £10 in full, and to distribute the balance as far as it would go amongst the creditors above £ 10, whom he hoped to pay in full, if he were prosperous, during the following1 twelve months. Accordingly Mr Gould added, he added, he had pleasure in offering to creditors whose original claims were under £10 a cheque for the balance of 11/7 in the ':£, and to the other creditors a cheque for 6/ in the pound, which would bring their dividends up to 14/5 in the £. He felt confident that Mr Goodson would •foe as good as his word, and that in the course of another twelve months they would be called together to receive the remaining- 5/7. He had thought it right to ask the reporters to lie present in order that the same publicity might be given to Mr Goodson's honourable action as was given to his failure in 1879.

Mr H. G. Barclay said it would be a very proper thing- for the meeting- to draw up a resolution expressing- satisfaction at the honourable step Mr Goodson had. taken.

Mr V. D. Colchester, of Ipswich, seconded, that proposition, and it was agreed that Mr Barclay should be left "to frame one in suitable terms.

Mr S. G. Buxton—l remember that everyone thought at t)he time that Mr Goodson's failure was not his fault, font his misfortune. His action is most creditable to him.

The resolution as subsequently drafted was as follows:—"That this meeting of creditors tenders to Mr C. W. Goodson, of Auckland, New Zealand, an expression of their sincere appreciation of his honourable conduct in voluntarily assuming the burden of paying to the creditors under his assignment of 1879 the loss incurred by them at that time. They fully recognise the great difficulties Mr Goodson ihas had to contend with, and the consistency of his action in first paying up all his New Zealand creditors, and they earnestly hope he will long be spared to enjoy the respect and esteem •which such an honourable record merits."