COMMERCIAL.

Evening Star, Issue 5591, 8 February 1881, Page 3

COMMERCIAL.

»,j- ■ ! The amount .of revenue "received at the Custom-. house, on goods cleared this day fojr consumption was L 1.656 6s id. „„ , iV , . . A London telegram dated January £9 In the Age 's&yß:—" Deals scarce. BagJ: likely to vry late M«esTl J. P. Watson and Thomas Hunter last night received telegrams from Reef ton stating that the Welcome Company's yield wsb 9050z lOdwt of retorted gold from about 200 tons of stone. The crushing occupied fifteen days. Mr MontafQ Py.m offered at auction this afternoon the cargo of new season'* tea ex Menmulr, comprising S6O half-chests and 1,000 boxes. The sjiios effected were K0 boxes Pekoe Souchong at 115 d per lb, and lockboxes at Is; 250 boxos first-crop do at 18Jd; SO boxes extra choice do at 11W. The rest were passed In at prices varying from led to 19d. MR G. WILSON'S BANKRUPTCY. A LIVBLY MBBTINO. Some half-dozen gentlemen this morning attended a meeting of creditors in the estate of Mr George Wilson, butcher. Mrfw. Bridgman was voted to the chair. The debtors statement read by Mr Callendar, trustee, showed that be wont into business in July Last AwodVance of L7OO was made by the National Bank through Messrs Thomson (Port Chalmers), and D. Reid (Milton), who obtained a bill of salo over Mr Wilson's property as security. The debtor was then examined as follows : Mr BairoMAN: What was your position when you got this advance of L 250? Did you suppose you wero able to pay what you owed I—l spoke to Mr Worth several times, and he expressed himself to tho (Sect of taking step sto get the priee of moat raised Competition was not then so brisk. # You traded upon your frionda till the pneo of meat was raised ?—During the seven months I have beon in business I have paid over Ll.lOO in weekly expenses, consisting of wcges, rent, efc). Mr SffßONAcn: Hew many weeks have you been in business i—Thirty weeks. What do you owe Reid and Thomson ?—Their overdraft is L7OO, and a bill for L 250. Mr D. Rkid : We have to pay the Bank L 730. Mr J. W. Jago : The simple fact appears to bo that Mr Wilson went into business <without means and got into as much dobt as he could. Ho went along as far as he oould, and when he could go no further he stopped. Aroturb Crkditor,: You gave a bill of sale over your book dobt*. What money has been collected from tho books?-I don't know. Mr RsiD : About LIS. Mr Wifsou: I ought to explain that I had beon carrying on for the last six weeks, prior to cloning, with tke expectation of Mr Shand buying the shop. r Mr Brijkjman saff ihat he would rather have gone out of the business, and paid the L 750 to those ho owed. Mr Wilson : I tried, but oould not get out. Mr Bridoma* : It is no use a man going on pulling against the tide when ho is robbing his friends and everybody else. That Is my opinion. He gdt LSO from me on account of hides., to be delivered about a week before he filed. Mr Stronach thought it was pretty clear that all had placed confidence In a man whom they would not have trusted had they known as they did now. Mr Jaoo: How much have you drawn out for household expenses?-There has been nothing drawn ©ut except what was required—urgently required. When you drew your monqy out where did you charge It ?-It was just paid away. It does not appear In the books. „,_ A . Mr Bridgman : He kept no house account. That is an extraordinary thing. The TJausME: Tshere are more extraordinary things than that Mr Jago (looking over the books): Wright, Stephenson, and Co seem to be pretty well secured. Thoy got paid weekly. Mr Monro : If they were being paid weekly, why did you give a bill of salo ?-That bill of sale wes given before I went into business. As Mr Stronach can tell you, these sales o.f stock have to bo paid for weekly-. Mr STROSiCH: I can only say jou did not pay me. Mr Wilson : I may say that was because competition ran nn out. I paid you until the last week, and—■ Mr Strosac»: That was tho largest week's purchase. You usually paid me L2O, kut that week you purchased to the extent of L7O and did not pay. —lt waa because you were selling stock cheap that I purchased so extensively. I intended paying you as usual. ~ Mr Mmmo > I think this affair a great pity. I looked upon you—lndeed everybody looked upon ycu -*with such great confidence that we would have trurted you with anything. Mr Wi son : It is simply the force of circumstances. When I went Into business in the Oatsgon I had as jjoed prospects ai anyone who ever went into the butchering trade. Three weeks after Shand ana Worth opened in business and I had to succumb. Mr Rkid : He means th*t if he had continued to get the pnea for meat he got when ho started he would have made money instead of lost. Mr Wasos: The last two montha were simply ruination. A discussion then ensued as to the course to he taken. It was unanimously conceded that tho best legal advice ought to be taken as to tho position of the lion held by Wright, Stephenson, and Co., and as to what coukl be got out of the estatf.—Mr Munro, who moved in this direction, sakl that they wero all agreed that a man whom they had actually befriended had given a preference to other creditors in the shape of & lien over his goods purchased with tholr money. It would have been more manly far Mr Wi'son t3 have closed his business when he found he could not continue it. Mr Wilsos : I had to carry on. I did not anticipate the competition there was. Mr Mcnro : It would have been better for your creditors if you had closed. Mr Wilson : It would have been better for me. It would have 6aved me a deal of anxiety. Mr Rhid said that he was willing to give up his Security for what he had advanced on it. Mr Jago : We would all very well like to have a Share of the spoil as well as a share of the liabilities. The meteting agreed to. instruct the trustee to get the best legal advice as to their position, and to report to a meeting of creditors, to be held as soon aa possible.