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MEETING OF CREDITORS.

A meeting of tho creditors of Robert Loav, builder, of Wellington, was held at the Official Assignee's office yesterday morning. Secured creditors debts in the estate totalled JSSB4, the securities held by them being valued at £650. Unsecured creditors have debts aggre- : gating £993 11s 2d, and tho assets are I only worth £446 at bankrupt's own I valuation. These consist of £279 stock in trade, £80 book debts, £61 10s real estate,, and £66 surplus from securities in hand of secured creditors. Amongst the unsecured creditors aro the Pukctapu Sawmilling Company, £230; Halley and Ewing, timber merchants, £188 ; James Reid, timber merchant, £126 ; Prouse Bros , timber merchants, £83 12s lid; Stewart Hardware and Timber Company, £59 14s 6d ; M. H. Briggs, bricklayer, £37 10s ; J. Stevens, timber merchant, £31 ; Schoefer and Co., timber merchants, £39 4s 9d;' Alexander Graham, builder, £23 3s 6d ; Charles Harford, plumber, £20 ; John Duthie and Co., £19 10s 4d. The secured cieditors arc Donald M'Master, sheepf annei , Wellington, £300; Na"tional Bank of New Zealand, £101 ; Robert Martin, Manners-street, Wel» lington, £183. The bankrupt submitted a statement to the effect that lio began business as a builder five years ago in partership with Mr. Edwin Pearcc, who put no capital into the business. Bankrupt put in about £100. Tho partnership was dissolved on 30th November, 1903. Mr. Pearce received £15 as his estimated share of tho partnership assets. The causes of bankruptcy wore stated by Low to be (1) lack of capital ; (2) losses on contracts including £480 on a contract "from Mr. Garland for a house in Glcncoe-avenue ; (&,\ inability, ; owing to losses, to obtain the ordinary j trado discounts. It was decided op the motion of Mr. J. Hutchen that Mr. James Reid should act as supervisor at the remuneration allowed by the Act. It was I also resolved that tenders should be j called for the business as a going conccv and settled by lhe Assignee and the supervisor.

A certain clnss became very noisy during one lecture; so much so indeed that the lecturer got very annoyed. At last his patience was quite exhausted find, in a wrathful voice, he shouted, "If those gentleman will not be quiet I shall put mjr foot down jvrth a firm .handt-

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https://paperspast.natlib.govt.nz/newspapers/EP19070601.2.89

Bibliographic details

Evening Post, Volume LXXIII, Issue 129, 1 June 1907, Page 9

Word Count
379

MEETING OF CREDITORS. Evening Post, Volume LXXIII, Issue 129, 1 June 1907, Page 9

MEETING OF CREDITORS. Evening Post, Volume LXXIII, Issue 129, 1 June 1907, Page 9

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