The first meeting of creditors in "the bankrupt estate of Joseph Powell, draper, o-f Karangahape-road, was held this afternoon at the office of the official assignee, Mr. H. Gerard, presiding. The bankrupt's statement put his unsecured Creditors at.2B,'to whom £1471 17/ was owing. Stock in-trade £1100, book debts estimated to produce £56 6/4, cash in hand 18/, furniture and fittings £314. He estimated his_ surplus, after paying off secured creditors, at £200. (Before the bankrupt was sworn, Mr. R. H. Abbott -replied to certain assertions, made-hy the insolvent in his statement, contending that bankrupt had been treated with a degree of patience, leniency, and generosity quite out of the ordinary, and that nothing was done •to prejudice his position. (•Proceeding.)
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