FARMER'S BANKRUPTCY.

Auckland Star, Volume XLVIII, Issue 301, 18 December 1917, Page 4

FARMER'S BANKRUPTCY.

« A meeting of creditors in the estate of James Malone, farmer, Ngaruawahia, was called for this morning at the office of the Official Assignee in Bankruptcy. Mr YV. S. Fisher presided, and the following ' solicitors were present on behalf of creditors: Messrs. Glttos and Vallance. The Asignee said he had not received any communication from tbe bankrupt, but had protests from creditors at Hamilton objecting to the meeting being held in Auckland. T.wo of these creditors claimed I over £200 each. As there was not a quorum present Mr Fisher formally adjourned the meeting to Hamilton. He stated that a schedule forwarded by a firm of solicitors gave the schedule as follows. Unsecured creditors £646 10/11, secured creditors £11,660 3/8, estimated value of securities given £13,590, leaving j a surplus to contra of £1,920 15/4. Mr j Fisher said it would be necessary to have j a report upon the land at Waitakere and ' Ngaruawahia, as to value and mortgages, to ascertain the position of affairs. There 1 was also a dairy herd at Ngaruawahia, which was also being milked by arrangement. A letter was read iroiu a mm oi solicitors at Hamilton explaining that j debtor was managing a farm of 445 acres j at Gordonton for his brother. This he exchanged for a property at Waitakere. The title to tho latter property was not given until last April, and in the mean- i time interest had accrued.