MEETING OF CREDITORS.

Evening Star, Issue 7326, 26 September 1887, Page 4

MEETING OF CREDITORS.

RE O. MULHARE. A meeting of creditors in the estate of Owen M dhare, of Kuriwao, farmer, was held at the Official Assignee's office on Saturday Mr D. Stuart appeared for the bankrupt; Mr Webb for the Assignee. , ~,,,,. The bankrupt's statement set forth that hw liabilities amounted to L 471158, and assets to L 453 10s, being a deficiency of Life Bs. i.ne unsecured creditors are as followa =- J T - 10 and Co.. L 136; P. Drummond, Ll9 16s 3d- A. and J. Macfarlane, L3O; Lange 2d Son, L 49; W. Charlton, LlO 12s 3I; Allan Low, LI 7s 2d; T Steele, L 8 7s P. Campbell, L 9; J. and W. Sheddan, L 1 0; A. Peters, L 5; James Mulhare, L6O; Joseph Mulhare, L6O; Thomas Mulhare, D. Stewart, LlO 10s; Bates, Sise, and Co., LlO ss; total, L 471 10b. The secured creditors are the Colonial Bank, L 1.500 (estimated value of security, Ll.200); N.Z.L, and M.A. Company, L 3,369 (estimated value of security, L 4 000). The assets consist of farming stock and implements, L 92 10s; furniture, L3O; surplus from securities in hands of secured creditors, L 331; total, L 453105. The bankrupt, on being examined by the Assignee, stated that he bought his inoperty three years ago from the N.Z.L. aud M.A. Company at the rate of L 6 per acre. Ir comprises 802 acres. He paid L 1.444 on account, and there was still L3.3G8 due on the land, and a sum for interest besides. There had been no conveyance of the land. He had improved the land to the extent of L.500 in fencing and additions to buildingr, He gave a bill of sale to a Mr Christie, who had since <lied. Christie gave him Ll.lOO cash. He had a wife and twelve children, nine of lived with him. Their ages ranged from thirty to nine years. His sons helped him, and he owed wages to three of them. It was agreed when lie bought the land that they should help him and get wages, but there was no agreement as to what they should «et. His capital when ho went in was L 2.300. His principal losses occurred through depreciation in the value of sheep, and losb on a shipment of grain t > Melbourne. It was resolved to give the bankrupt his f irniture; also to grant him an allowance of L2 per week for five weeks. The meeting adjourned sine die.