WAIHI WORKERS' CO-OPERATIVE STORES.

Auckland Star, Volume XXXVIII, Issue 171, 19 July 1907, Page 6

WAIHI WORKERS' CO-OPERA-TIVE STORES.

MEETING OF CREDITORS.

Ameeting of creditors in the Waihi Workers' Co-operative Stores was; held yesterday afternoon at the Official Assignee's office. Mr. Gerard, who presided, said- that in estimating the dividend, he had taken the figures as he had been able to ascertain them rfom the books. The book debts totalled £714, and with what could be collected the creditors, he thought, would get something like 13/4 in the ■£. The stock in trade, plant, eta, had been sold, and the leases disposed of, and the liquidation was to all intents and purposes finished. Preferential claims had been put ifl to the extent of £177, which it was for the creditors to decide about. Som of the charges made he would he inclined to dispute, but if the creditors chose to vote the money, they might do so.

Considerable time was spent going through the preferential claims. Some were ordered to be paid, and others left in the hands of Mr. Gerard.

The Official Assignee said thai the liquidation had been an expensive, one for the creditors. The solicitor's costs for the petitioning creditors were £73 1/3. They had also to pay the opposing solicitor, whose account was £ 17. 4/2. , ~

Mr. Jackson moved:— "That this —"-meeting thanks Messrs. Hayman and ~ Co., and T. H. Hair and Co., for the action they took to protect the creditors' interest."

Mr. P. Virtue seconded the motion,, which was agreed to unaniu'ousry.

Mr. H. W. Wilding said 1 this estate had been realised with great promptitude. The fact that £180 was expended in legal costs, accountancy costs, etc., showed the wisdom of placing estates at once in the hands of the Department provided by the Government, and not leasing realisation to amateurs.

Mr. Virtue said he ha<i been informed that the rate manager had not drawn his alary for a month.or sis weeks.

Mr. Gerard said he could only deal with cfacms sent in.

Mr. Virtue said the widow in her grief might omit to send in a claim, but if the wages were due, she should receive them.

It was agreed that if Mr. Gerard was satisfied the wages were due, they should be paid; ':~