IN BANKRUPTCY.

Press, Volume L, Issue 14916, 14 March 1914, Page 6

IN BANKRUPTCY.

ESTATE OF J. F. VOGT.

EXTRAVAGANCE ALLEGED

The first meeting of creditors of John Frederick Vogt. of Christchurch, builder, was held at the ofrko of the Official Assignee yesterday. Mr \ T Donnelly Appeared tor tho bankrupt, and Mr r,. T. Harper for White aud Co.. one of the creditors. The statement showed unsecured debts £W7 2 S od, assets £142 lis -d, deficiem-y £704 10* 3d., iho assets included stock in trade £*>. ho % dC }£ lf>s (estimated), furniture £16 lte, Ind surplu. from principal creditors were :--VV • "£ e und Co. £300 0s Ud." McCully and Co £127 Gs 10d, Mason, Struthers and Co. £08 13s Id, Law and Allen J - V 7 r< H Moir H s ' xl ' p A, f-»-> 17s od, Green and rratt Beattie --> i«s ""- . Karma (•2.3 Us. Scott \. i Stonewood v,.. Ltd. £19 Patrii-k £19 llfa Od. A- - < i;,l Harnor and \eoman £14, "-p>: bd, li^ r »" j Ca rpenter £14 Poison £1< I<- IS w> ,";. ~}. gd Uradley Bios., Ltd. £14 14* oa, \V Sev £11 14s Ud. Heath and 00. £11 H. Jacobin -U son £12 3s Od Reese Bros £10 Js. *l. Sd Homcbush Brick and Coal Co. £11 statement the bankrupt said that he was a married man with a that nt wa* « , i o r S unti ,T Au ß «2,° 1911, when he commenced contritcting on his own ac four or of them. " c « unt l atter SSSSr. mi n«d had drawn out « which did not .«j; more than £3 weekly for his own use. in all he had taken 10 contracts. Ihe contract price for his sister-in : law s house was &04. The corrtract pnee^o his wife's house £i fi^ o a l__ h J not kept an account of the Exclusive of his own wfg^.*" 8 . CC _Z was £417 IGs 4d. Last ? , . nt " J\ c onnd that he was in ties, but he kept on contracting. He nlaced his position before the two latest creditors, and they advised h.m to keen going. Since last winter he had taken four contracts, and on two had lost money. He had not j'ved extravagantly, and attributed his failure t 0 the under estimating of contracts and to illness in his family. At the present time he was working for wages. He had no expectations whatever The Official Assignee said that banKrupt had kept certain books, but they were not altogether reliable. According to the books the accounts owing totalled £919 os lOd. while the assets which includoo. a balance of £2/0 on the profit and loss account, totalled £303. It was doubtful whether that balance really existed. Tho Official Assignee added that he had obtained a statement from bankrupt's wife, who said that she owned a quarter-aero section and a six-roomed house. The house, which was built by her husband, cost £400, which*was paid in instalments received from a Building Society. There was now about £400 owing on tho property, rier husband did not at any time do any further work on tho property except to carry out certain repairs, which would rot amount to more than £10. Her husband paid the rates and outgoings, but when he did not she paid them out of the housekeeping money. She received £4 a week for household exEenses. She had received £200 from er mother's estate, with which . she bought the .section on which tho house was built. She received some furniture from her mother's estate, and paid for more with insurance money received about five years ago. Her husband had also bought about £30 worth of furniture. Tlie value of all tho furniture was. about £100. The Official Assignee said that there wan also a piano bought for £54, on which £30 was paid, leaving £19 owing. The piano could be sold probably for £30. Practically all the furniture was claimed by the wife. Tho bankrupt's tools were valued at £6. and his stock in trade, Avhich consisted of various odds and ends, at £20. It appeared from the bank book that from 1911 to 1914. for a period of 21 years, the bankrupt had drawn cheques payable to himself totalling £1180, which was at the rate of £iSOO a year. Mr Atmore (White and Co.) said, that according to the bank book the bankrupt was living at the rate of £42 a month, yet he had the cheek to come and swear that he drejw only £3 a week, and lm wife said sho got £4 a week. Bankrupt said tho £3 a week was for food only. A number of tho items appearing in the cash book were for business accounts. A creditor said that according to the cash book bankrimt had paid £96. to the Building Society. Mr Donnelly said that that really represented tho rent the bankrupt had to nay. The Official Assignee said that according to the outgoings the rent paid by the bankrupt came to about 18s a we"k. The Official Assignee said that all he could suggest was that an application should be mado to the Supreme Court under Section 76 of the Act to have refunded hy the wife what had been spent on her property by the husband. The cnnital value of the wife's property was £525: and the mortgage was £400. A creditor «aid that if the bankrupt had beo» l-ving at the rate of £42 a month, thero seemed to be something wrong. Mr Atmore, of White and Co.. said that bankrupt had recently paid certain tradesmen in full. Bankrupt had never made a statement as to his «ffairs to White and Co. He put ur> a cock and bull 6tory, which was afterwards found to be quite inaccurate. Another creditor mado a similar comnlaint, adding that in respect of a Park terrace contract, bankrupt had said he had made a, profit of £75, whereas thero was no profit at all. Bankrupt eaid that after he had been allowed his wages, there was no profit on the contract. Mr Atmore said it was extravagant living thnt had brought the bankrupt to his present position. Bankrupt kept two Pets of books, and knew what his position was. Mr Atmore then moved that the Official Assignee- should take action against tho bankrupt under the penal clauses of thc Bankruptcy Act. The Official Assignee asked who would srivo evidence in support of the charge. The charge would have to be proved in the ordinary way. It was decided, however, that the facts should bo referred to the Crown .Solicitor, who would advise whether a charge should be laid or not. Mr Atmore said it seemed clear to him that the bankrupt could bo proceeded against on the ground of extravagant living. The realisation of the assets wns left in the hands of the Official Assignee, and the meeting adjourned.