MEETING OF CREDITORS.

Press, Volume LXIV, Issue 13101, 28 April 1908, Page 4

MEETING OF CREDITORS.

A meeting of creditors in the bank- j nipt estate of Thomas was i held at the Official Assignee's office yesterday afternoon. - ■ The bankrupt's statement showed that the amounts due to unsecured creditors totalled £355 3s lid, and to secured creditors £2009 3s Bd. The estimated value of the securities was £1780 2s 6d. Other liabilities were set down at £15 ss, and the total debts at £2409 12s 7d. The assets (including stock-in-trade value £10, book debts £430 2s 6d, furniture £60, and property £1350) amounted to £1850 2a 6d, which left a deficiency of £559 10s Id. The unsecured creditors over £10 were:—Ashby, Bergh and Co. £94-7s 9d, Scott Bros. £33 12s 9d, T. H. Davies £28 15s, Bradley Bros. £29 12« Ud, West Australian Hardwood Company £22 6s 4d, Collins and Harnian £22 12s 10d, Hulbert, Slaymaker and Co. £11 Bs, Lawrence and Kircher £16 0a 7d, Edward Brock £12 12s, and Taylor and Oakley £30145. The secured creditors were:—Mrs M. White (New Brighton) £667 17s 6d, W. J. and H. M. Hunter £20110s, Edmonds and Page £231, John James Collins £80, Edmonds and Pago £230 lis 4d, Large and Allen £106 17s 3d, Trustees of A. B. Menzies £85 9s, C. Comber £53 4s, O. Duggan and Son £98 os, Charles Edmonds £43 5s lOd, Smith and Smith £67 3s 9d, Briscoe and Co. £139. Other liabilities: —To cost of finishing work at Garden' road, Fendalton (already paid for) £15 15s. Tho real estato consisted of 3-4 9-10 perches of land at Rugby street, St. Albans, £1200; 1 rood 28.6 perches at Mill road, £150; total £1350.

The bankrupt stated that he was a builder residing in his own house. Tho property was mortgaged, firstly to Mrs White for £650 at 5J per cont.; secondly, to Mr Hunter, solicitor, for £200, at 7 per cent.; and thirdly, to Edmonds and Pago for £231/ at 5 per cent. The house and -land cost him about £1200. He also had a section of nearly half an acre in Mill road, Spreydon, mortgaged for £80, the value of which ho estimated at £150. He had plant to the value of £10, including tools of trade; household furniture and effects which ho valued at £60. He had a contract at Fondalton, and though it was fully paid up for, it was not quite finished. He had no other 5 property. Ho had been in Christohurch about eight years, and had been in business about seven years. When he started business ho had about £150, and did well for a time, although he lost heavily on his first contract. His principal losses had been during the Jast twelve months, ohiefly __ Uhro.ngh taking contracts at too low prices. The item book debts £430 2a Gd waa money duo on a contract for Mr H. E.Button on which liens for a larger sum had been lodged. Mr Upham, who appeared on behalt Of the debtor, stated that a number of liens had been lodged a.t tie Supreme Court. Tho Ofacial Assignee stated that he had instructed his solicitor, to watch tho proceedings at the Supreme, Court when the matter of liens was being gone into. . The creditors did not seem inclined to.question the bankrupt to*any extent, and the meeting closed.