Meeting of Creditors.

Cromwell Argus, Volume XXXVII, Issue 1988, 14 May 1906, Page 5

Meeting of Creditors.

A meeting of creditors in the estate of Mr A. G. Tidey, plumber, Cromwell, was held in the Council Chambers on Friday at 11 o’clock, p.m., eleven creditors being present. Mr Little was voted to the chair. A letter was read from the DeputyOfficial Assignee at Queenstown, giving the necessary particulars for carrying out the meeting, and instructions re forwarding the books and statements. Mr Brodrick appeared on behalf of the bankrupt. The following claims were proved : D. A. Jolly and Sons, .£4B 13s fid; J. Scott, £l4 17s; 0. Mitchell, £lO 6s 3d; H. Felton, £5 Os 3d ; Mrs Werner, £4 13s fid ; J. Little, £4 7s Id; H. Bowie, £3 14s 2d; W. Talboys, £4 7s 5d ; Cromwell and Bannockburn Collieries Company, £4 8s fid ; J. Ritchie and Son, £3 19s lOd ; J. Goodger, £1 18s 2d ; K, Pretsch, 12s 3d ; total, £lO6 18s 11 d There are a number of other creditors amounting to over £IOO. The statement filed by the bankrupt showed there was secured creditors amounting to £204 6s Bd, estimated value of security £2OO, and unsecured creditors amounting to £197 15s. The assets were given as: Book debts, £25 ; stock, £lO ; furniture, £l4 10s. The bankrupt, on being sworn, said he started business about nine years ago with £lO and a kit of tools. Had slack times occasionally, especially so last year. He was mixed up in dredging, and lost considerable sums ' v Af money in shares, the start of it being about six years ago. He was clear of the dredging debts about five years ago. He attributed bis bankruptcy to want of sufficient work and recent illness of his family, and stated he could not give the amount of his earnings, but his books would show the amount. The tools and furniture are valued at £24 J os, and his work has not been remunerative because there was not sufficient to keep him going all the time. I cannot say how much I owed five years ago, but I believe I was solvent then, and was not pressed by anyone. It was only during the lust 12 months that I have been pressed, and I then saw that I was going to the bad. Since filing I notice a great improvement in the business. It is only a wages job, and I would not make an offer for it. I bought the house for £2OO, and borrowed £125 from the Oddfellows, and gave a second mortgage for £75 to Mrs Ellis, to be paid off at 10s per week. I kept a cash book, and reckon the £25 book debts are all good, Thomson, Bridget-, and Co., of Dunedin, summoned me, got judgment, and issued a distress warrant, and to protect my other creditors I filed. It was moved and carried that this meeting be adjourned for a fortnight, to allow the bankrupt to make an offer.