In Bankruptcy.

Daily Telegraph (Napier), Issue 5684, 18 November 1889, Page 3

In Bankruptcy.

RE WILLIAM WESTLAKE.

> . nie ,.tinK of creditors in the bankrupt estate of William Westlake, late of OrrnondX iUe storekeeper, wua hold at the Court-hou-so this morning. Mr Sainebury npB ear K d for the petitioning creditor. The \s<ignee said there was no statement to "o before tho meeting, as. far as hew Sonecrned, and they could only wait til the proofs of debt were put in and then check them by tho books as oest they cuuld. Eould, however, give them tho stateSent of aeaeto. Aβ far as they knew the S-in-tn-.de at the Working Men* store, grmondvillc, wa* worth £800 : book dobte, ifttiG (estimated t<, produce £-i<,). «snbh in W £41; furniture, £70 There were eolne properties, but they did not know yet Xat they were. They wou d have to rSri the meeting t» enable tho southern Sdorß to prove. What he wanted now Sto |i«t in «iU the proof, and what ■ WomaUon tho credit..™ conld give him, to ™ on with. There was a eection S -OrmondviHe, with house va ued at £200 under mortgage to the Colonial *L I;• section 5 with four-roo7ned house, valued S under to the B.nk 5 SSon 8, ALhlcy, valued £.00 ; action 11, T-Vlued at £300, u-deriuortnugc ; section 22, $h dwellinj,' house, £250; section JJ, "I fA under to tho Bunk ; section* { .30 and 31. valued' £150, nwrtgraced to the Bank: Norsovrood store, valued at £3»0, mortgaged to the Bank. There were several oUier propertiae, of which ho had not yet ascertained particular*. Ho did not see that they could do anything , until the ■different creditor? hud proved. It would he best to ndjouvn till Monday. Before that, of course, if there wae any proposition the creditors might de-ire to luake as to the disposal of the stock they miyht do so. ■ Mr Younghiusband said it would bu just well to do something about tho stock. T/hich was getting wowe the longer the store was kept open. The A«signee ivtid he had been carrying on the store m tho hopes of srlhnir it us a ■ rr coiicrn, and (-ell the mill separately. S °Mr Youu''husb:inil Raid nothing could be aone about tho mill until the titles had bee., -aid of cour M Jβ could not sell tho properties until he gut the di-t-da. Ho might as well inform tho meeting that MrWcrtlaUe had taken euro to take his Sh book and bill hook with uai, sun vus diifiuult to jjl-1 at tue real stutoKud th,y did not nund ibout the cash book beh,- lulling, as long oa no cash had been t:iko:i. a N 9 The A lam , o said l.o'dld v.t.l 6 e« Lo,v that Ttwa.n-thK-iyaa

a man would go to 'Frisco without anything in his pocket. Mr. Younsrhusband moved that tenders he invited, returnable on the 30th instant, for the stock- in-trado at Ormondville and working plant. jlr. Irvine seconded the motion, which was curried.

Tho Assignee considered it would be wise to get rid of the storo if possible.

A creditor said they did not know yet what it wan worth, and what amount of mortgage was on it.

The meeting then ajourned till next Monday afternoon, at two o'clock.