MEETING OF CREDITORS.

Evening Star, Issue 7356, 31 October 1887, Page 3

MEETING OF CREDITORS.

RE A. A. CATOMORE. A meeting of creditors in the estate of Alfred Augustus Catomore, solicitor, was held this afternoon.

The statement submitted was to the following effect:—Unsecured creditor*: William Murcott, Ll2B ss; Mollison and Duthie, L2B 10s 7d; Dr Hocken, Lll Os 6d; Wilkinson and Pettit, Lll; Otago School Commissioners, L 2 9; M. Anderson, L 1312* 3d; Amelia Muir, L 53 8s 8d; Albert Evans, Ll7; F. M. Catomore, L 252 8s 9d; and other minor claims, making a total of LC3I lis 3d *ue to unsecured creditors. Ihe assets are: Book debts, Ll7O (estimated to produce LIS); furniture and lawbook.', L 7 10s: total, L 22105. Deficiency, LOO 9 Is 3d.

The debtor put in a written statement showing how he got into difficulties From this it appeared that he had carried on business in Palmerston from November, 1872, to November 1882. His receipts in 1881 were L7OO, and in 1882 they~ fell to L 369. This shrinkage in business caused him to come to Dunedin.W In 1833 he earned Lsll 3s 4.1; in 1884 L34215s 2.1; in 1885, L 250 14s fid; in 188 C, L 222 18s 8d; and in 1887 up tilt October 25, th« c'ay before he filed, his receipts were L 193 8s CJ. For the six months ended February 28 last he received only L 55 4s 3d. His rent was L9O a-year, and office rent L 32. He had a wife and a family of seven, and it was impossible to keep those dependent on Lim and pay such rents. In 18"3 he rented a hoiuefiom Mrs Huh for which he paid LIOO a-year and taxes. This was reduced by Mrs Muir for the last six months of the term 10 LBS and half taxes; but as business with him was getting worse he applied for a further reduction. This Mrs Muir would not agree to. He therefore got a cheaper house. Mrs Muir declined to accept a composition of 10s in the £ at three and six months, and took proceedings against him, which resulted in the issue of an execution. He bad pro£orty at Palmerston, for which he paid ,1.700. This was mortgaged to the Standard Building Society for Ll.lOO. He had paid six yearly instalments of L 95 lis each on account of this mortgage-when he left Palmerston in 1882 In 1885 the Society sold the property for L 490. The balance owing to the !-ocicty at that time was L 179 7s 9d. There was a second mortgage of L 95 on this property; but as the Society fcad iodised on the first mortgage, the second mortgagee went to the wall, andthedebtor had ever sincebaen burdened with thai second mortgage, on which Ll3l was now due, it running on at 10 per cent. As to his having no furniture, he would explain that his daughter had been left LIOO j this by investment had increased to L2OO. Out of that sum he bought the land on which he built at Palmerston, and also some National insurance thares. The sum of Ll2O had been saved from the wreck, and seeing that he was his daughter's trustee, and as such liable for the money he had had from her, he gave her the Ll2O, and suggested that with it she should buy his books and furniture and hold them a' some compensation for ker loss. For the last six months he had lived on the earnings of his daughter, who was a music teacher. On the motion of Mr J. F. M. Fraser (proxy for Mr Muroott), seoonded by Mr M. Fagan, it was resolved unanimously that the debtor be granted whatever interest the creditors had in his law books and furniture to the extent ofLl3O. , L , . The Debtor stated that as soon as he was in a position to do so, the creditors would be paid every farthing. The meeting was adjourned sine M,