MEETING OF CREDITORS.
Dunedin, This day. A meeting of creditors of Messrs J. and J. Watson, of the Grand Hotel, was hold yesterday, at which there was a large attendance. The report of the committee appointed to investigate tho affairs connected with the estate was considered highly satisfactory by the creditors, and it was resolved that the property be vested in three trustees, the business to be carried on for tho benefit of the creditors. The Messrs Watson are to act as managers of tho business. It was stated that the estate showed a surplus of £17,000. It was resolved that debentures bearing S percent, interest be issued for tho purpose of carrying on the affair, such debentures to be paid off as tho funds come in. It was stated that after very careful examination of the books it was gathered that the profits of the business amounted to £1300 per month, and there should therefore be no doubt of its being vory shortly put on a satisfactory footing and paying 20s in the £1.
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Bibliographic details
Daily Telegraph (Napier), Issue 3954, 22 March 1884, Page 3
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175MEETING OF CREDITORS. Daily Telegraph (Napier), Issue 3954, 22 March 1884, Page 3
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