MEETING OF CREDITORS.

Evening Star, Issue 7246, 24 June 1887, Page 1

MEETING OF CREDITORS.

BE W. POGSON.

A meeting of the creditors of William Pogson, refreshment-room keeper, St. Clair, was held yesterday afternoon. Mr JD. D. Macdonald appeared on behalf of the bankrupt; Mr D. M. Stuart for Messrs M'Gavin, M'Gregor, and Smith; and Mr Solomon for the Assignee. The bankrupt's statement showed his liabilities to be L4OO 7s 9d, and his assets L3O, leaving a deficiency of L 370 7s 9d. Principal unsecured creditors: Henry Benjamin, L 1 0; I. Isaacs. L 1 8; M. Moss, L2O; M. Marks, L 1 0; W. J. White, L 2 5; Fitzhardinge Jones, L2O; Bryant, L2O; Esther and Low, L 95; Dunedin Iron and Woodware Company, L 27; Mollison and Duthie, Lll 18s lid; A. Thomson, Lll 6s ; H. Lunn, farmer, Christchorch, L7O ; Mi's Chalmers, LlO. The Bankrupt stated that he had been in business about twelve months. He had no money in hand then, and might have owed as much as L3OO. He had leased the rooms at St. Clair in the name of his wife, as she thought she could assist him out of his difficulties if he took them. He did not give any notice to his creditors of the state of his affairs when he obtained credit. He held the position of storeman in the Railway Department at a salary of L 3, and also obtained LSO a year as secretary to the Railway EmployeV Society. About five years ago he obtained about LIOO or L2OO from Home through the National Bank. He also got LSO from Home since then. He obtained the first money on purpose to buy a piano, and he gave his wife LBO to buy one. His wife bought a piano for L6O. On the authority of his wife and daughter he gave a bailment over the piano to Mr Marks. The Assignee asked the bankrupt if he could explain how he was in his present position, seeing he bad been earning L 4 a week and had obtained money from England. The Bankrupt: It seems I have over-lived my income. That is the only thing I have to say. I have not kept any books. The business does not require them. I have no bank account.

The Assignee: It seems to me that there is no justification for having got L4OO into debt, and I think if you were brought before the Court, the Court would have something to say upon the subject. If you have any offer to make to the creditors I think they will accept any reasonable offer. Mr Macdonald stated that bankrupt had informed him that he could not get anybody to lend him any money so as to make an offer. He had been in difficulties for many years. The Assignee: We can raise a few pounds in the estate, and go before the Court and have the matter thoroughly sifted. If the. Government refer to me with regard to your bankruptcy I certainly cannot give a very favorable report. The Bankrupt (in answer to Mr Solomon): I cannot say how much it cost me to live. My private expenses were about L 4 or L 5 a-week. My debts arc old ones. I forget how I incurred them. I have not paid any money lately. It has all gone to pay the Abrahams, Isaacs, and Jacobs.—(Laughter.). The Assignee: You are worse than Esau; you have sold somebody else's birthright for a mess of pottage. Do you mean to swear that you have paid away all your last salary to these gentlemen ? The Bankrupt: Yes, sir. Mr Solomon: What were you paying them ?

The Bankrupt: One pound a week each to Marks, Benjamin, and Isaacs, for the last three or four years. Mr Solomon: It is mere nonsense to say that he has been paying all this amount of money. The Assignee : It is a most unsatisfactory case.

The Bankrupt stated that he had LB, LlO, and L2O at different times from Mr Moss. He had paid L 3 or L 4 for loans of L2O each time, and he had paid the money back at LI per week. Mr Macdonald: The L2O you got from Mr Moss—what did you do with it? The Bankrupt: The balance of that went to pay what was owing to Mr Benjamin.— (Laughter.) Mr Solomon: You have had money from all these men. What have you done with it?

The bankrupt did not answer this question.

The Assignee: Surely you can .show receipts for the accounts that you have paid during the last twelve months ? The Bankrupt stated that he could not Mr Solomon asked what the debt of L7O due to Mr Lunn, of Christchurch, was for.-*, The Bankrupt: That is cash lent. '}, Mr Solomon: Have you been doing anything in the racing line ? The Bankrupt said he had not. He also stated that he had obtained a loan of L 25 from Mr W. J. Whyte, one of L2O from Mr Bryant, and one of L2O from Mr Jones. The Assignee: It is simply perfectly monstrous.

Mr Solomon : It simply amounts to this: He has been getting LA a-week, he has had money from Home, Ll5O eash that he borrowed, and has not paid his grocer, batcher, and baker, and now he owes L4OO. The Bankrupt: I have had to pay current accounts since I have been at St. Clair. The Assignee: What did you have from MrM'Gavin?

The Bankrupt: Money and other things; I could not say what. If I wanted L 5, I would say : " Geordie, lend me a fiver."— (Laughter.) r Mr Stuart said it seemed to him that any possible show that the creditors had of getting anything was being rapidly dissipated. There was a "chiel amang them taking notes," and if the report of the meeting appeared jn the papers, the bankrupt would lose his situation, and there would be no possibility of the creditors getting anything. The Government were creditors themselves, and, if the bankrupt got " the sack," the Government might suspend the order for his discharge until the final day of judgment.—(Laughter.)

Mr Russell: I don't think it is matter that should be hushed up. Mr Stuart suggested that the Press should be asked to hold over the report of the meeting in the meantime until the bankrupt could see if he could get anyone to give hut some assistance. ...., ~, After some consideration it was unanimously agreed that the Press should be asked to hold over the report. Mr Duthie then moved "That the bankrupt be granted a week to make an offer, on the condition that his wife and daughter resign any claim to the piano." Mr Leslie seconded the motion, which was carried unanimously. The meeting then adjourned.