IN BANKRUPTCY.

Press, Volume LII, Issue 15560, 8 April 1916, Page 3

IN BANKRUPTCY.

ESTATE OF J. F. FERGUSON.

A meeting of creditors in the bankrupt estate of John Franklin Ferguson, of Christchurch, commission agent, was held at the office of t*ie Official Assignee yesterday. The unsecured creditors were: Johnston and Son and Co.. Dunedin, £'400; Saville and Co., Christchurch, £7; Kichardson and Stokes, Christchurch, £2 los; D.1.C., Christchurch, £4; N.Z. Express Co., Christchurch, £3; Hendry and Son. Dunedin. £2; Duke and .Sons. Dunedin £3: Dr. F. G. Gibson. Christehureh, £6; A. Suckling, £1: E. C. Smith. Christchurch, £1 14s: C. Smith, Christchurch, £'J IU-: lotal £4:V2 19s.

In his sworn statement bankrupt stated that he was a married man with ;i family of four. Ho was an accountant by occupation, but during the last twelve months he had been acting as a commission agent and had been anaployed by "Negotiators, Ltd.," at a weekly salary and commission. During that " time his average weekly earnings would not exceed £3, although there were some weeks when he made as much as £o, or perhaps a little more. Prior to going to .Negotiators, Ltd., he was employed for 18 months bv Johnston and Sons. Ltd., publishers, etc. At first he acted as their local manager, and later on did a considerable amount of travelling for. them. The £400 shown in his statutory statement was for moneys to whic-h ho*was indebted to them during the time he was in their employ. In order to repay this they took promissory notes from him, but although he had made every effort to do so, he had been unable to pay the amount back in full. To date he thought about £40 had been paid to them. He ha<l done his best as far as his means would aliow to repay Johnston and Sons, and would have continued to do so. but they obtained a judgment for £1 a week. This was too much of a draw on his income, and consequently he soon got into arrears, and as Johnston and Sons threatened further proceedings, he was obliged to file. He had no assets whatever. The furniture in his house belonged to his wife. He did not drink to excess nor gamble, and he had no future expectations out of which ho might at any time pay his creditors. No creditors were present, and the Acting-Official Assignee, Mr M. _C. Barnett. adjourned the meeting sine die.