MEETING OP CREDITORS.

Evening Post, Volume XIX, Issue 108, 11 May 1880, Page 2

MEETING OP CREDITORS.

? A meeting of Mr. Port's creditors wu hold in the Supreme Court Buildings yesterday afternoon, for the purpose of considering an application from the debtor for his immediate discharge. There was a large attendance of creditors. Mr. TraTers, who appeared for the debtor, explained the object of the meeting, and stated that Mr. Miltrard, a professional accountant, had made a thorough examination of the debtor's books, and would, if the meeting desired it, report the result of that examination. Mr. Milward stated that the books wera in a state of confusion. Mr. Port, from not understanding matters, had got into his difficulties. The money was there, but he did not know where it was. It was only by overhauling the books completely he (Mr. Milward) was able to make them out, but the result he thought was very satisfactory to Mr. Port. Had the books been thoroughly examined two or throe months before Mr. Port suspended there would have been ample for everybody. An opinion was generally expressed by the creditors that the trading had been carried on in the most reckless manner. Mr. Travers remarked that the credit system was at the bottom of the matter. If men did not get credit to Buch a large extent more care wo aid be taken in dealing with their funds. Mr. Christio, manager of the Colonial Bank, was of the same opinion. Several questions were asked Mr. Port regarding some of the bad and doubtful debts,

after which Mr. Bonthorn moved, and Mr. Robertson seconded, that Mr. Port's discharge be granted. The motion was carried, on the understanding that the debtor's furniture, which is assessed at £300, could be dealt with subsequently.