MEETING OF CREDITORS.

Evening Star, Issue 7431, 28 January 1888, Page 2

MEETING OF CREDITORS.

♦ nr, t. w. hungerkord. A meeting of creditors in this estate was held yesterday afternoon to confirm a resolution accepting an offer of 5s in the ,C. Mr Fraser, who appeared for Messrs A. and.]. M'Farlanc, said that it would be in the recollection of creditors that at the last meeting of creditors he had asked for a day’s delay in order to obtain the report of an expert Ida clients had sent to the Coast, but the concession was denied him; and as tho Bank practically controlled the estate by reason of the magnitude of their claim, his clients were powerless to do more than protest. Ho had now to inform the creditors that had lie been allowed a day or so his clients would have offered at least another 2s 6d in the £, or that if the creditors .had left the contract to work out they would have got 10s in tho .€. The Assignee stated that the Bank had made careful inquiries, and were satisfied, Mr James stated that his clients were quite satisfied to get 5s in the £. Mr Fraser replied that his clients presumed that the information of the Bank was faulty, and the only person who had profited by the transaction would be Mr Macdonald’s client. Mr Fraser and Mr M'Farlane then left the meeting. The Assignee then put the resolution, which was declared carried.