MEETING OF CREDITORS.

Evening Star, Issue 7168, 23 March 1887, Page 2

MEETING OF CREDITORS.

RE GEORGE HARDWICK. A meeting of creditors in the estate of George Hardwick, contractor, Mornington, was held yesterday afternoon. There were several creditors present. The bankrupt’s statement showed :—Unsecured creditors, L 245 14a 4d; secured creditors, L 642 5s (including securities valued at L 875). The assets amounted to L 254 15s, being stock-in-trade at Maryhill, L2; furniture and tools, L2O; and surplus from securities, L 232 15s; surplus from estate, L 8 19s Bd. Appended to the statement is a note : “ This statement shows a surplus, bat the properties will not sell and probably will be sacrificed for the amount of the mortgages. The values stated are under cost.” There are book debts, L 7 11s, not estimated to produce anything. The following are the principal unsecured creditors :—J. Giltnour, L 69 12s 4d ; G. Hutchins, carter, L'2o; M. O’Hare, brickmaker, L2O ; Barningham and Co., Ll3 14s 6d ; R. Bauchopand Co., L 18; Adam Bros., Ll4 4s fid; G. E. Hardwick, Ll2 15s; assignees Ross and M'Neill, Lll 15s ; J. Wallace, butcher, L 10; Adam Paterson, ironmonger, L 9 10s; P. Rutherford, Caversham, L 8 ; Paterson, Burk, and Co., L 7 10s j James Mann, L 7 2s fid ; G. and J. Jennings, L 7 ;H. E. Shacklock, L 5; Findlay and Co., L 3 5s ; Cross and Wilkinson, L2 10s ; Smith and Smith, L2Bs ; D. Leach, LI 10s; J. S. Williden, LI ; J. and T. Christie, 16s fid. The secured creditors are The trustees of Court Pride of Dunedin, A.0.F., first mortgage ; debt L 258155, value of security L 475. A. S. Adams, solicitor, second mortgage ; debt LlO3 10s ; security L 475. Imperial Building and Investment Society ; debtL2Bo, security L4OO. Bankrupt deposed that he had been in difficulties for two years. At the time he was sub-contractor of a work at Port Chalmers, which was stopped. He lost about LSO by the job. Ho gave a statement of the work he had done since that time, and the losses he had incurred, also the manner in which the properties had been dealt with. He had about L3O or L4O capital two years ago. Mr Adams stated that a private meeting of creditors had been held, at which arrangements had been endeavored to be made for payment of 3s in the £. Some of the creditors drew out, and Hardwick had to file.

On the motion of Mr Macdonald, seconded by Mr Adams, it was resolved—" That the Assignee offer the two properties by auction, the Assignee to use his discretion as to the price to be accepted.” It was resolved, on the motion of Mr Macdonald, seconded by Mr Paterson—- “ That, should the estate realise LSO, Messrs Adams’s costs before bankruptcy, to the amount of L 5, be paid by the Assignee.” The meeting was then adjourned sine die.