IN BANKRUPTCY.

Auckland Star, Volume XXXIV, Issue 306, 24 December 1903, Page 5

IN BANKRUPTCY.

A meeting of creditors in the estate of —. Irvine, storekeeper. Otahuhu, was held in the office of the Official Assignee (Mr E. fierard) this afternoon. In hi. sworn statement before the Official Assignee tbc bankrupt saidi.lie surrendered ail his property to Mr .V. li. Holmes, to whom the estate was privately assigned about a week ago. His furniture, perhaps, would not yield £20 if sold by auction. He bought the business at,-O laliuhu from Mr P. C. Llendrickson in February, 181)8 for £750. He possessed then £345, and borrowed £20(1 from his brother. Joseph Irvine, giving him a P.N. for twelve months. £200 of William Moore, who received « P.N. for 32 mouths, and £100 of Mrs Margaret Clarke- also Sivins Her a P..N". Tin- twelve months. He paid Mrs Clark and Mr Moore Interest regularly once a year at the rate of ."> per c-eut.; to his brother he paid 5 per cent, for three years and 7 per cent, for two years. His brother never pressed hiui for the return of the money until lie started on a farm. lie tolrl his brother he could not let him -have the £_(Xi unless he sold out. and it was agreed that the money .should remain in the business until such time as he waa able to pay out. Neither of the others pressed him for a refund. lie drew no inure than x.2 10/ per week frum the shop for family expenses. (Proceeding.)