MEETING OF CREDITORS.

Dominion, Volume 1, Issue 238, 1 July 1908, Page 11

MEETING OF CREDITORS.

ESTATE OF A. E, JAY, DRAPER. ■ -The first meeting of creditors in the bank- '. rupt; estate,' of- Alfred Ernest Jay,' draper, of i Ne\v.lo^vn;•'^Yc]llngton, , was :lield■ before the Official .Assignee,- Mr. A. Simpson,, yesterday, morning. Mr. Moran appeared for the • bankrupt; v.- . 'The statement of finances showed that the . amount -owing to unsecured creditors was £697;;'145. 9d., while the assets we're represented by.v the foUowing amountsStock-in-trade,; ,£(>ss 14s. 3d.; book debts, estimated to produce £14; cash in hand, £29 14s. 10d.; £80. Total, £779 9s'. Id.' Estimated surplus, £81 14s. 4d. 'The priiicipal unsecured creditors were:—' Sargdoa, .Son. arid Ewen, £220 os. lOd.; Boss -. and Glendinmg;; £137 .10s.; R. H.'.'.-Abbott and 061','£69 6s. Id.; Bing, Harris, and Co., £26 ;ls.v .Bd.; Macky, Logan, Caldwell,. and Co!J i,£2o; 19s. 5d.; 13iitterworth Bros!. £37 55'.,;7d. ; E.' Collio, £21 15s. . In. his sworn statement, the bankrupt afc- - tributed his failure'to, two causes: (1) That his-shop .was overstocked, and he lacked the experience in retail Belling; (2) That he had been for-the last two or three'months suffering from nervous debility, which made it impossible for him to devote the necessary timo and attention to the business. It was decided to call for tenders, to close 'on July 8, for-the purchase of the,stock, Mr. Grcigg (representing Sargood's) to open the same with the .Assignee. As bankrupt did not-wish'to claim under the, Act for his ,','shSre .of the furniture, it was resolved to : have the 'same removed to an auction room, ' ' , and,sold:for'the benefit of the estate.