MEETING OF CREDITORS.

Press, Volume LV, Issue 10214, 9 December 1898, Page 3

MEETING OF CREDITORS.

RE F. W. C. HASLAM.

The adjourned meetittg of creditors in the estate of Professor Haslam was held yesterday morning. Mr W. Izard appeared for the bankrupt. The Official Assignee said he had had the books at Canterbury College valued as for auction, and the value placed on them was £15, which confirmed Prof. Haslam's value of them. This brought the total valuation to about £200 for turniture, etc., and he had been authorised to accept an offer of £100 on behalf of Mrs Haslam, which had to be considered and affiriied at a special meeting for that purpose. 7le did not know if Prof. Haslam had now any offer to make.

Mr'lzard said that Prof. Haslam had decided not to make any offei*. He recognised that there were means under the Bankruptcy Act by which application could be made to the Judge, and he preferred leaving it to the Judge to state what was right and proper to be done.

The Official Assignee said hetthought the bankrupt was doing the right thing. Professor Haslam said that the offer he had made was to escape the bankruptcy proceedings which had been declined, and he was now in a less good position than then to make an offer.

After some conversation the Official Assignee said he would bring the application before the -udge as early as possible, and would give the fullest notice to proved creditors.

Mr Bates said between April 19th, 1898, and September 10th, 1897, there was a matter of £162 paid to Mr Grossmann by cheque, and he wished to know if they were debts due by the bankrupt. Professor Jaaslam replied, that to the best of his knowledge the- were not debts. He was questioned by Mr Bates as to different items in the bank book.

Mr Izard asked Mr Wells, in connection with his claim, if Professor Haslam knew that he (Mr Wells) was giving over bis property to Mr Giossmann. -

Mr Wells said he thought so. It was done in this way as far as ,he could remember:—The agreement was signed at Mr Kirk's; the transfer was afterwards signed at Mr Paiairet's, and tho agreement was taken back to Professor Haslam, who signed it. Mr Izard—Did you inform Professor Haslam?'

Mr Wolls answered that he could not say that he did inform Professor Haslam that he was parting with his prdperby to Grossmann. » Professor Haslam asked if he were to understand that the agreement was signed before it was returned to him to sign. Mr.Wells said it was. Professor Haslam—You had parted with the property before I signed? Mr Wells answered that he had. He continued that he supposed Grossmann had told Mr Haslam all about it.

Mr Izard suggested that advice should be taken as .to whether Mr Wells could prove in the estate. - . .

In answer to Mr Charlewood, Mr Wells said he had left the house before the agreement was signed. Grossmann was in Wellington, and Mr We_s wrote to him asking if he intended to purchase, and he replied that he did. The whole, of the negotiations were with Mr Grossmann. . He did not see Prpfessor Haslam at all. ' The reason why the agreement was somewhat unbusinesslike was because he understood from Grossmann that Professor Haslam objected to a second mortgage oh the property. Professor Haslam said the agreement was brought to him to sign, but he did not understand Mr Wells was parting with his property. He knew he had agreed to sell it, but did not know that it was actually transferred.

Mr Izard,, to Mr Wells, said that when he lent £200 on the property he understood there was only £500 in it. Mr. Hopkins said it seemed absurd that the case should be fought to the bitter end: Far better would it be if an offer could be accepted, even as low as 3s in the £. His client could not afford, togopn;Tvitb. litigati6hr''_tid"f_e course they were pursuing would possible mean only a few pence in the £. Would Professor Haslam be willing to enter into a composition for £250 a year for five years?

Mr Izard said Professor Haslam had decided to leave the matter to the judge. " The meeting then adjourned.