CREDITORS' MEETINGS.

Auckland Star, Volume LXIII, Issue 122, 25 May 1932, Page 5

CREDITORS' MEETINGS.

WAIKATO DISTRICT CASES. HOTELKJEEPER'S AFFAIRS. DISCHARGE TO BE FACILITATED. A resolution to facilitate the discharge from bankruptcy of Thomas Stevenson Cray was passed at a meeting of creditors yesterday. Bankrupt was a. hotelkeeper at Cambridge, and the Official Assignee at Hamilton, Mr. V. E. Crowhurst, presided. The s-chedule showed £1786 owing to unsecured creditors and £10,754 owing to secured creditors. Tlio value of securities was set down at £i0,0b5, assets be in? £304. In his statement bankrupt said he had been the proprietor of the Masonic Hotel at Cambridge. Pre-sent economic conditions were responsible for his position. In tlio past three years on only two occasions had all the available rooms in the hotel been occupied. The fall in property values had also made matters worse. He willing to carry on. under supervision if he could obtain some relief in respect of the capital sums due, and also in the interest rates. In the last three years he had earned only £230 from his profession as an architect. Replying to a question, bankrupt said that his books had for some time been in the hands 1 ol a public accountant at Hamilton. Failure of Garage Owner. Horace Edward Salter, garage proprietor, of Waharoa, met his creditors before Mr. Crowhurst yesterday. Bankrupt's schedule showed an estimated surplus of £104, assets amounting to £1090, with £550 and £370 owing to unsecured and secured creditors, respectively. Bankrupt said that he did not have difficulty in meeting amounts owin" by him until early in the winter of last year. He had given extensive credit and had found it hard to collect payment. , ~. , It was agreed among the creditors to allow the business to be carried on under the supervision of the assignee, the Position to be reviewed in six months. Air. Crowhurst said that if he found things to be unsatisfactory in one month lie could call creditors together again.