STOREKEEPER'S FAILURE.

Auckland Star, Volume XLII, Issue 148, 23 June 1911, Page 6

STOREKEEPER'S FAILURE.

MEETING OF CREDITORS. A. meeting of creditors in the estate of Michael jjjreemanl, storfckeepeiv of Mangawai, was held at the office of the Official Assignee this morning. The Assignee presided, and the only creditor present was Mr. Stewart, of Stewart Bros., Helensville. Bankrupt stated his liabilities amounted to £258 10/6, and assets' £452 10/2, including stock in trade £115, and book debts £332. The creditors are: Stewart Bros., Helensville, £173; Mrs.' Bennett, Port Albert, £25 ; H. Shepherd, Maungaturoto, £51; T- Lees and Sons, Auckland, £0. Because a creditor sued him he was compelled to file to protect all his creditors ih&fTgh., in fact, perfectly solvent. Bankrupt admitted that ho declared a bankrupt some sevea years ago- He -secured his discharge four months later. The Assignee said that .he had two offers'from storekeepers at Mangawai for the stock. They were not much certainly, but he could not disclose the figures did Mr. Stewart intend making an offer. As .to the .book debts which bankrupt estimated at £300, ho, the Assignee, was satisfied that they could not produce more than £10. Mr. Stewart said the book debts were not good. A report from the Assignee's agent stated that the stock was very much overestimated in value. Mr. Stewart made an offer of £15 in stock, which the Assignee accepted. To My. Singer (appearing for bankrupt) Mr. Stewart said that he had an order from 'Freeman for certain monies amounting to £86, representing goods sold to an individual over a period of, years, and-which-had not been naid for. ~■ ■ - l The meeting adjourned to enable other creditors to state if they would accept an offer for the book debts. A meeting of creditors in the estate of John Tipper, motor engineer, late of Quay-street, Auckland,'will be held at the Official Assignee's ' office this afternoon Tipper's garage was gutted by fire a few ■months ago. The present whereabouts of the bankrupt is unknown.