MEETING OF CREDITORS.

Dominion, Volume 1, Issue 22, 21 October 1907, Page 5

MEETING OF CREDITORS.

! A'meeting of creditors in the .bankrupt ostate of Richard' Swaystand, labourer, I'ctnno,' was held! before Mr. James, Ashcroft, Official Assignee)' oil Friday morning. The bankrupt)''oxammed'by/Mr.,Ashcroft, stated that" he' had' been 11 years ,ih Pctono. For part of that timp he had kept a horse and, cart, which ho had, been, compqlled to inort- ; gage for £25 & pay his debts! 'The South Pacific Loan Qoniptihy held a bill of sale over that.' His aVorage. earnings for tho.last two years, as a labourer employed on the Hutt Railway Duplication works, wore £8 10s. per month. He had bought a property on tho tabled mprtgagb .system, ~and had . snbsoquontly got into .the hands of money-lenders. Ho had a wife and,three children. The Official Assignee remarked that tho property was ostimated at £574, but whether it would sell for that was another question. Bankrupt had givon what'.ready rnonoy'he had to his. wifo, and had not even enough to pay his filing fees. Pendiug further negotiations regarding tlio sale of the property, lie would wljouni the meeting sine die. The statement of assets and liabilities was as follows: —Total assets (estimated), £610; total liabilities, £637 12s. Bd.; deficiency, £27 12s.'8d. ; •■