MEETINGS OF CREDITORS.

Evening Post, Volume XVIII, Issue 49, 26 August 1879, Page 2

MEETINGS OF CREDITORS.

A meeting of the creditors of Charles Wilton, ironmonger, of Master ton, was held to-day. Mr. W. Dawson occupied the chair. The debtor, whose assets were put down at £2100, and the liabilities at £1649, offered through his solicitor, Mr. H. H. Travers, to assign his estate to Mr. A. P. Stuart, for the benefit of bis creditors, and proposed to pay off his debts by six instalments of 3s 4d in tbe £, each extending over six months. Mr. J. E. Nathan proposed that tbe deed be not assented to, for he thought that where there were a large number of cred.tore they should have the privilege of appointing a trustee. He pointed out that k was the creditors' property which was to be disposed of. The estate showed 30s in the £, ana the debtor should not make capital out of creditors by having such a long time allowed him. Mr. Capper seconded the motion, as he thought the assets could be better realised upon The debtor explained that he had been brought into the present fix owing to the tightness of money in Masterton. which prevented him from paying everybody now as he had hitherto done. After some discussion tbe motion was agreed to, and the meeting closed. A Fecond meeting in the same estate was then held, Mr. R. Gardner ia the chair. After some conversation, it was resolved, on the motion of Mr. Nathan seconded by Mr. Dawson, " That the debtor be requested to make an unconditional deed of assignment to Mefsw. Stuart and Capper, *nd that a clause be inserted in that deed compelling the trustees to call a meeting of creditors when requested to do so by a majority in number and value of the creditors, and tkat any resolution carried at such meeting shall be binding on tho truiteoa." This dosed the meeting. Another attempt was made to-day to iret itrrrutiAaSS! 01 phnups ' ° f KaiwiS » »EW INBOI.YBNT. James Bryant Eades, of Wellington, carst£. afg^ag*"*"^' i9t **-