MEETING OF CREDITORS.

Press, Volume LXIV, Issue 13104, 1 May 1908, Page 2

MEETING OF CREDITORS.

A meeting of the creditors of William Miller, ibudlder, -was'held yesteirday, the Oflioia/l Assignee (Mr Greenwood) presiding. There were several creditors present.

The unsecured debts amounted to £315 5s 7d, the principal creditors being :~W. Goes £111 13s 3a, W. White and Co. £92 3s sd, Aehby, Bergh arid Co. £11 2s 7d, W. Stephens and Co. £29 12s sd, Millar's West Australian Hardwood Co. £13 4s Bd. W. Martin £8 10s, W. H. Banks £9 l<3e 9d. Soott Bros. £8 5s Bd, Merchants , and Traders' Agency £5 Sβ. The secured claims amounted to £202 lOs 7d, but the estimated ralue of securities was only £IG7 12s 7d, leaving a deficiency of £34 18s. The secured creditors were: Croxford and Sueesuy £37 8s 6d, Edmonds and Page £42 33 10d, Hepburn and Bon £15 Is 2d. T. Honehall and Son £19, J. Otley and Son £5 18s 3d, Anderson and Co. £82 18s 10d. Through the deficiency in the securities the bankrupt's total deficiency amounted to £353 3s 7d.

i In his sworn statement, the bankrupt said that he had been in business since Inst June, and ho had then about £350. Ho had attributed hi.s failure to tendering too low for contracts. His last contract was for Mr P. H. Kvans. for £750, and his loss on that was about £200. His greatest. k«a on this contract was in the item of labour. The secured creditors were claimants on the balanco of the contract. Ho considered Mr Evans's reserve for the completiton of the contract, £119 17s sd. was excessive, and should not exceed £UO. In reply to Mr Upham, who represented Mr Evans, tho bankrupt stated that he threw up the contract in February. He paid £15 on account ol the painting, but it "would take £2G additional to make up the contract price. The contract for tho preeent drain was not in tho original specifications.

To Mr Salter: He had £350 to start with, but in two contracte he lost about £500. He gar© a cheque for £9 to Mr Banks in February, for a cash transaction, but he did not know that his bank account vras them in debit. Ho kn-evs" at tlft» end of February that he was insolvent, but as far as he knew he had not contracted other debts since that time. He let his creditors know his position then.

In reply to other questions the bankrupt atated that nn engine was returned to Anderson _and Co. at their written request, in security for the £82 etiil owinp on it. It -was stated that tlie ongino cost akowb £175, and Mr Uphta-m was requested to enquire into the circumetaJicee of its r&turn. TJhe Official Assigno© was requested to take legal advice, If necessary, in regard to the position of the creditors concerning the money suli to come from thi> contract.