MEETING OF CREDITORS.

Press, Volume LXVII, Issue 14072, 17 June 1911, Page 5

MEETING OF CREDITORS.

IX RE FREDERICK CRUMP

A meeting of creditors in the estato of F. Crump, farmer, of Halkett, was held yesterday, the Official Assignee (Mr Evans) occupying tho chair. Tnerc were five creditors present or represented. Tho following were tlio unsecured creditors: —J. V Lawry (Kirwee) £18 10s 4d, H. E. Hill (West Molton) £19 18s lljd, J. H. Hutton (West Melton) £o los 6d, "Lyttelton Times" Company £3 7s 6d, Christchurch Meat Company £4 18s, G. I3atstono (Kinvec) £1 9s 4d. J. Thompson (Courtenay) £2 12s, Wood Bros. £152 16s sd, G. McKay (Halkett) £5 12s, Massey Harris Company £4 os, S. Fowler (Ralkett) £2 lls, — Burgess (Kirwee) £1 10s, G. Crump (Halkett) £170; total, £39.3 6s. The only asset was £88 9s cash in hand, thus leaving a- deficiency of £304 17s. Examined by the Official Assignee, the bankrupt stated that he had been at Halkett for five years. He had" taken a ten years' lease of a farm of 373 acres, at a rent of 12s per aero per annum, and tho right of purchase at £18 per acre. Ilates, taxes, and insurance brought his rent up to £237 ncr annum. At tho time ho started ho had £300 worth of plant and £50 in cash. Ho held his own for tho first two years, but tho last two had proved disastrous. Hβ was financed by Wood Bros. On May 18ih ho held a clearing sale, as his credit was stopped, and his position was hopeless. The amount due to his son, George Crump, was made up of unpaid wages, at tho rate of £1 per week. Tho representative of Messrs Wood Bros, said that tho bankrupt had not disclosed tho debt to his son when ho secured tho advances made him by the firm.

Tim bankrupt replied that Mr Wood was informed, how tho money was expended. The ■ meeting was adjourned, after a resolution had been passed allowing bankrupt £5 out of tho estate for immediate necessities.