MEETING OF CREDITORS.

Evening Star, Issue 7344, 17 October 1887, Page 3

MEETING OF CREDITORS.

BE HUGH CALDKH. A meeting in the estate of Hugh Calder, contractor, of Caversham, was . hold at the Assignee's office this afternoon. Mr Webb appeard to advise the Assignee, Mr James for the debtor, and there were six creditors present. The statement is as follows:-Unsecured cnHlito.il: D. M Calder L4;_.g»*f» h , a » Borough Council, L3B 9s 6d; J Sibbald, L 32 (is Cd; IX Baxter, Ll'J Ss4d; W. Wilson (builder). L 7 10s; Caversham Gas Company, L 4 Os 7d; W. Wilson (engineer), M 7»Mi and other small amounts, making a total of LV>2 Is fid owing to unsecured creditors. Secured creditors: William Kennedy, 1/2,205 (estimated value of security, L 3.218); National Insurance Company. L 2,140 (L 2.000); Colonial Bank, T/l 038 (1.1,500); Hand and Heart Lodge of Oddfellows, LSOO (L1.C0O); T. Burton, L486(L780); total owing to secured creditors, Lo,fiC9: estimated value of securities, L 8.998; leaving a surplus to contra of L2,.°»2(). Assets : Book debts, L 53 9s—estimated to produce L2. r >; furniture, L 110; freehold section in Clarendon, L 25; surplus from securities in the hands of secureil creditor?, L2.H29; total assets, 1,2,489. Surplus L2.33G 18s 7d. The Bankrupt, being examined, paid that he attributed his bankruptcy simp.'j to the depreciation of property. The \ allies set down were the property tax valuations.. The National Insurance Company pressed him ; that was the immediate cause of his filing. They issued a writ for interest to the amount of LI 40. He had been out of business for soma time, and had lately lived on the rents of one or two other properties. His wife had property valued at L 520 or thereabouts. This was bought by her trustees out of the proceeds of property that was hers twenty-five years ago. He had no expectations from any quarter. The Assignee remarked that it was pretty easy to see from the statement what the trouble was. The debts were remarkably small for one holding suMi a large estate. Mr James said that the debtor was a victim to the fearful depreciation of property. Ho could, however, have pulled through but for one party pressing him. The Assignee did not know how to advise the creditors. No doubt Mr Calder would confer with him to see whether any of the properties could be Bold so as to leave a surplus. It would be to the interest of the creditors if the mortgagees were willing to sell the properties separately. After a brief discussion, it was resolved, on the motion of Mr Baxter, seconded by Mr William Wilson (engineer), that the debtor be allowed his furniture to the extent of LllO. The question was then raised as to an allowance for maintenance, but the debtor stated that he did not ask for any allowance. Some conversation took place as to the probability of realising anything out of the estate, and it was ultimately agreed to leave the matter in the hands of the Assignee to realise to the best advantage.