MEETING OF CREDITORS OF MONTAGUE MOSES.

Daily Southern Cross, Volume XXII, Issue 2682, 20 February 1866, Page 6

MEETING OF CREDITORS OF MONTAGUE MOSES.

At 11 o'clock yesterday forenoon, a. meeting of the creditors of the estate of Montague Moses, who kept a fancy toy-shop in Queen-street, was held at Mr. Vernon's office, Old Supreme Court-house. The estate had been entrusted to Mr. Vernon, as trustee on behalf of the creditors, and the meetipg was convened at his instance to ascertain the views of the creditors respecting it. The liabilities were stated to amount to £1,300, and the assets comparatively trifling. The principal creditors were Messrs. B. Emanuel, E. and H. Isaacs, D. Nathan, Davis, M. Marks, Levy, W. 0. Wilson, Lewisson, Sherrard, Henderson, Fugate, Cruickshank, Hoffming and Co., and Berwin and Mendelsson. Mr. T. S. Weston appeared for the debtor. On the motion of Mr. E. Isaacs, seconded by Mr. F. H. Lewisson, Mr. Sherrard presided. Mr. Vernon said he had, as assignee of the estate, 'convened the meeting of creditors, and he wished to draw their attention to the following report, which he submitted :—: —

IN THB ESTATE OF MONTAGUJE MOSES. "REPORT. "1. On the 12th instant, I took possession under a deed of assignment. " 2. On the 14th, Mr. Lewisaon agreed to pay me for the f urniture in Hobson-street, at my own valuation, which I valued at £50 12s. 6d., and received the amount. "3. I have paid Mr. Webbe for rent of private house the sum of £1 ; and Mrs. Heldt, for rent of shop, £19. "4. Mr. M. Marks, after I had sold the goods in private house, claimed to the value, 1 think, of about £B— the bedding, &c. lam desirous of knowing how you would like this claim dealt with. Claim is annexed, and marked A. "5. Mr. Emanuel, junior, has given pea claim he asserts for wages ; but it is a commission account and annexed, marked B. "6. Inventory of furniture is annexed, and marked C. "7. Inventory of stock in shop is annexed, and marked D. "8. I consider the value of stock, if sold by auction, will realise about £120. "9. I have 2 watches, 2 chains, 1 ring, and 1 pin, the property of M. Moses. "10, I have the sum of £27 2s. 6d. on hand. "Hinrt Yebnon, " Assignee of the Estate." "Auckland, Fehruary 19, 1866." The Chairman said the first matter they had to dispose of in the report was the goods belonging to Mr. Marks. Mr. Vernon said he was not aware but that the bedding belonged to the debtor, and consequently he sold it with the bedstead. Mr. Marks was aware that he (Mr. V.) was in possession before the furniture, Sec, were sold. Mr. Moses did not mention to him that the bedding belonged to Mr. Marks or any one elie when he (Mr. V.) was about to sell it. The bedding was in the house when he (Mr. V.) took possession. The bedding was his own property. Mr. Mares explained that Mrs. Marks had lent the bedding to Montague until his wife would arrive, and when she arrived with bedding it was to be returned. Whether his wife brought out bedding or not, he (Mr. Marks) was not in a position to know. Montague also told him (Mr. M.) that he had mentioned to Mr. Vernon not to v*lue the bedding, and Mr. Vernon has said he is nob certain. Mr. Ykenon : I am certain that he did not. The Chairman thought it strange thit Montague would not say that the bedding was Mr. Marks's property. Mr. Mares said Montague had told him that he was to give an inventory to Mr. Vernon, and that ! the bedding was not included. Mr. Vernon said he promised to give him an inventory, but did not do so. He (Mr. V.) asked him for his books, and he promised to give them ; bnt he (Mr. V.) had not yet received them. Mr. Weston said he would give up the books if they were required. Mr. Vernon said he understood that Mr. Marks had made an assignment, and perhaps he would let the meeting know whether that furniture was in his assignment or whether it was his own property. Mr. Marks said it was his own private beddiDg ; 'it was no parb of any assignment he had made. The Chairman said it seemed strange that Montague did not mention that matter to Mr. Vernon. , Mr. H. Isaacs said it was a pity Mr. Marks did not speak about it before, as it wouldhave prevented that matter being raked up at that meeting.

Mr. Vernon said the furniture was so.d. on the j second day, to save expense. Mr. Le.wisson had | acted very fairly : he said he would tahe the articles at hia (Mr. V.'s) valuation, and pay b.im for them. Mr. Fugate said that Mr. Mark?, had told him that Montague had some beddine; "belonging to him before the things were sold. Mr. H. Isaacs said there was nothing strange about it ; it was quite in keeping with, the debtor's whole affairs. Mr. Vernon said he should wish to have some definite instructions as to the bedding;. Mr. Weston said the oreditors could scarcely do otherwise than return Mr. Marks the furniture. Mr. Lbwisson consented to give up the bedding on receiving £8 ; and it was agreed that Mr. Vernon sb.ould.obtain the property and hand it over to Mr. Marks. Mr. Vbrnon said the next claim was from Mr. Emanuel, jnn., for wages ; but, as it was merely a commission account, he would have to appear as one of the creditors. Mr. Emantxel said he had been fifteen weeks in Montague's employ, and never received any wages. The creditors agreed to settle with him. Mr. Vernon produced an inventory of the furniture sold to Mr. Lewisson, and also an inventory of the stock-in-trade. Mr. Weston said the liabilities amounted to £1,300, and the assets would be about £350. Mr. Emanuel, in answer to the Chairman, said that Montague had received within the last two or three weeks about £20 book debts. There was a sum of about £100 due him as book debts. Mr. Vernon had applied to Montague for the books, and he promised to let him have them. Mr. Wkston said he would engage that the books should be forthcoming when wanted. Mr. H. Isaacs said that Montague's deficits during 18 months amounted to not less than £900. '''hat was no doubt to be attributed to his exploits in Adams's oyster saloon with young ladies. The creditors should take what they could get, aud wind up the affair. That had been the debtor's conduct, and the sooner he was cleared out the better. The creditors must be content to make the best of it. Mr. E. Isaacs said he would be for winding-up the estate, but there was nothing to be had. There would be about £100 absorbed in wages, commission, Ac, of the £120 ; and would they feel disposed to give Montague release, after his career, for the sum of £20 among them ? It appeared there was but £20 out of an estate of £1,300, and the debtor would get off with flying colours, after haviug obtained from him (Mr. I.) money under what he considered false pretences. He came to him and asked him for the* loan of £30 towards meetiug Mes'rs. Lewis Brothera' bill, who threatened to press him. He got the £30, and he (Mr. I.) afterwards learned that the bill was only £25. The money was to be refunded to him (Mr. I.) in a fortnight. After the money should have been paid, he asked longer time, as he had » bill of £55 to meet. He (Mr. I.) thought it better to let him have it than the £55 bill should be dishonoured. A short time afterwards Montague came fwhen he was absent, and got the loan of £55 from his brother (Mr H. Isaacs) to meet the bill. After such conduct would the creditors be justified in taking £20, and dividing it amongst them ? He would like to see his books, as he believed, from what he saw, that the debtor had a " cooked" set of books. They did not know his liabilities or assets ; some persons might bring in next day another account for £200. They had nothing before them but a request from the debtor for release, who had been spending their money. He was under the impression that there would be £400 in bands. He would propose that the matter should be forced into Court, as there was nothing to be got. Mr. Lbwisson thought the stock should realise more than £120. Mr. Vbrnon explained that the stock would realise £120, after paying expenses, auctioneer's fees, &c. There was £27 for furniture, out of which £8 would have to be paid; and the watches and chain 0 , &c, would be worth £25 Mr. F. Isaacs said he would not put forward his proposition until he should see what could be realised. Mr. Lewisson said the watch belonged to Mrs. Montague, as he had seen it with her on the night •he arrived, from England. Mr. Vernon said he had returned some articles of jewellery to Mrs. Montague, which he believed to be her own. Mr. Weston said there would be a dividend of 2s. in the pound. ai»The Chairman : That is a large dividend after 18 months' trading. Mr. Weston said that directly the creditors arranged to prevent Montague's arrest, the books should be forthcoming, and he would render every assistance in his power to collect his debts. Mr. Lewisson said he had heard something about about £300 to come off the liabilities. Mr. Meyer said he appeared for Mr. Emanuel, and he had heard of no reduction of the liabilities. The Chairman asked if the creditors would be justified in giving up to the debtor gold watcheß, and only get 2s. in the pound. Mr. Wbston said the watches, &c, would go into the estate. The Chairman said he did not know the debtor at all ; he was set down as Montague Moses, and he (the Chairman) had been dealing with him as Mr. Montague. It appeared to be a fictitious name. Mr. E. Isaacs said in his business transactions with him his name was Montague, and not Moses. Mr. Lewisson : He turned his name upside dowD. (Laughter.) Mr. Solomon, on behalf of Hoffming and Co., said if the estate was a fair one he would not object j but as it was he would propose that it should go to the Court to be wound up. That would show up the estate as it ought to be done. Mr. E. Isaacs said he would be only doing justice to the mercantile community by supporting the proposition. Taking the estate in the brightest light possible, it could only give 29. in the pound. It would be a charity to give £10 to prosecute such a debtor. 'lhe Chairman put the motion, when there appeared two in its favour and two against it, when he gave his casting vote in its favour. Some conversation then took place as to what the estate would realise, and it seemed to be the opinion that the stock-in-trade would sell for more than the sum stated. It was'then agreed not to act upon the proposition carried, until further inquiries were made. Mr. Solomon consented to examine Mr. Emanuel's claim against the estate, and communicate the result to Mr. Vernon, who should make it known to the creditors, and should they think the holding of another meeting unnecessary, the estate to be wound up at once. Mr. Vernon was instructed to advertise for tenders for the stock. Mr. E. Isaacs said Mr. Vernon had acted very judiciously in calling that meeting, and in not acting upon his own authority until he first laid the state of affairs before the creditors. He (Mr. I.) was quite satisfied with the way that gentleman had acted, and he was sure that was the feeling of the meeting. Mr. Weston said he had left the matter in the hands of Mr. Vernon, feeling convinced, from his long experience, he would wind up the estate fairly and to the best advantage. The meeting then separated.