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MEETINGS OF CREDITORS., Issue 7938, 20 June 1889
MEETINGS OF CREDITORS.
UK PROCTORS, ..TOXK3, ANl"> CO.
A meeting of creditors in this estate was held this afternoon, and attended by about fifty persons. Mr Solomon appeared to advise the Assignee, and Mr Sim acted in the dual capacity of solicitor to the debtors and proxy for Mrs Jones. The statement is as follows:—Creditors : Unsecured, L 17.334 10i 4d; secured creditors, L 6,074 l'2i, less estimated value of securities L 8.440 16s lid—surplus to contra L2.3G6 4s lid; other liabilities, L 3.445; total debts, L20.77910s 4d. Assets : Stock-in-trade at June 11, L 7.662 la 91 (less secured L2.64G 10s lid). L 5.015 10s lOd ; booK debts, L 2.730 183 sd, estimated to produce L 1,500 ; bills on hand, L 512 13s Cd; cash in. hand, LI 17s 4d; shares as per list, LGOI 3* Gd; property, L 29!) us 5d ; surplus from securities in hands of secured creditors, L2,3G0 4s lid j total assets, L10.29G 15.? Gd. Deficiency, L 10.482 14s lOd. Contingent liabilities : Bills under discount, L 16.605 19i lid; past due bills, L 2.970 0s 2d ; endorsements on bills, L 790; executors of late F. Proctor, L 20 0; total, L19.96G 0s Id. The unsecured creditors are—W. Scoular and Co., L 590 lis 8d; W. and G. Turnbull and Co., L 624 15s 2d ; P. Hayman and Co., L 424 13* 7d ; Neill and Co., L 597 12s 5d ; James Rattray and Son, L 539 14s 2d ; A. Briscoe and Co., L39G 0s 5d ; A. J. Paterson and Co., Ll4l 4s lid; Harty and Co., L 230 16s 8d; M'Leod Bros., L2Bl 0a 8d; Hogg, Howi9on, Nicol, and Co., Ll6O J3i 4d; D. M. Spedding, Ll9O 5s 9d; Anderaon and Co., L 330 2s 8d ; Henderson Law and Co., L9l 9s 6d; G. H. Campbell, LGG 7b 5d ; Phoenix Company, L 129 Is 3d ; Fergusson and Mitchell, L 133 3s 7d ; Queen Soap Company, L 32 7s 4d ; F. Meenan, L 96 17s; Kempthorne, Prosser, pnd Co., L 79 7s; D. Baxter a:id Co , L 37 14i GJ; R. Wilson and Co., LGO 12s 3d ; W. G. Neill, Ll7 Is 9d; Thomson Bros., LBG 16a lOd; Harty and Co., L 75 3.3 2d ; Georgo Sumpter, secured L 365 9i lid, unsecured L 514 lis sd; Gray and Aldrich, LIOS ; Ireland Bros., L 249 8s 6d ; Duon and Cameron, L 75 3s Id j F. W. Thiele, L 53 6s Id; Evans and Co., LI2O I2s ; R. Allan and Son, L22G 10s 9d ; Scott Bros., LIOB 6a 2d; W. G. Daly, LGS 15s Gd ;J. Vannani, L 24 33 3d; W. Fraser, LllO 14s lOd ; Stephenson, Smith, and Co., LU2 4a 7d; James Nathan and Co., L 26 lGs 3.1; G. F. Thomas and Co., L 54 lis 9J ; J. Kitchen and Sons, L 336 19s Id; Somerville Bros, L 132 8a 7d; D. Strang and Co., L 24 Is 6d; Oriental Tea Company, LlO3 3s 6d; Lange and Thoneman, L9B Is lOd ; floenicke and Fox, Lls 3* 81; R. Harper aud Co., LIOB 3s 8d ; J. Webster and Co., L 253 0s lid ; Jame3 Service and Co., Ls9> 2s Id ; H. W. Farrar and Co., LI 19 17a lid j Heyde Vodman and Co., LG9 10s9d; Penfold and Co., L 77 10* Gd; C. F. Stokes and Co., L 455 13a lid i G. P. Smnborne and Co., Lloo2s Id ; John Terry and C0.,L4,180 Is 3d; Atkins and Co., L4lu 10a Id ; Nicol Anderson aud Co,, Llßl 19s 4d; De Lissa, Crowe, and Co., L 322 9s lid ; J. S. Smith, 1,41 3s 7d ; W. Sanderson, L2B; W. D. Sutherland, L94s6d; M'Donald ard Miller, Ll6 19a; Thomson, Bridger, and Co., Ll6 lis; Dalgety and Co., L 76 17s lOd ; Thomson and Co., L449s Hd ; Mackerras and Hazlett, LG7 5j Id ; National M. and A. Company, L 29 7s Gd ; Bates, Sise, and Company, Ll6 9* S.l; Sargood, Son, and.Ewen, LIG 33; Farmers' Agency Company, L7l 0s 9d ; Mutual Agency Company, LlO9 10s 3d ; F. Bastings, L 24 fis 9d ; Kilgour and Son, L2G lis Id; R. M. M'Kay and Co., L3S 10s 8d ; Finlinson and C0.,L19 8s Gd; Peter Orr, L2l 14* 3d; Robert Forrest, LSO 13a 2d; R. Morrison, Ll7 5s 2d ; Matthews and Co., L 46 15s 8d j J. Brown L 34 ss3d ; Aplin, Brown, and Co., LB6 Is 3d ; E. Smith (for the Church Board of Property), L 54 16a 8d; Mrs G. Tucker, L 67 ; National Insurance Company, L3B Is Gd ; James Lambton, Ll3l 5s lOd ; late proprietors of Scotson estate, L 270 ; amounts under L2O, L 375 Vli, Total unsecured, L 17.334 10d 4d. Secured creditors : Colonial Bank of New. Zealand, L13.7C9 2a Id and L 2.000, as against which their estimated value of the security isLS.OOO; George Sumpter, L 365 9s lid, estimated value of security L 440 16s lid. Liabilities not already scheduled : Mra M. Jones, L 3.445. Real estate: Interest in Rnkaia land, L 219 5s sd; freehold Kelvin Grove, L 80; total, L2D9 5s sd.
The Assignee said that as those present were aware, where there were two partners there must b8 three meetings, one in respect to each of the separate estates and one of the creditors iu the joint tßtate. The book debts, he believed, were understated. By the estimate made by Mr Reith, these amounted to L 1,500, whioh was recoverable according to his idea. In answer to the ABaignee, Mr Jonea said that he was prepared to offer L 5.750 for the available assets, including the private assets. The Assignee said it would be well for tho creditors to know what they were asked to Bell. The aseets which tho debtor offered to buy were stock L 4.870, debts L 1.500, bills available L3OO, consignments still to be accounted for LI 50, private property L 1.250, shares Lll6, landed property LI9O ; total, L 8.326. Taking out the private assets, there would be L 7.126. Mr G. L. Denniston suggested that the Assignee and two supervisors bo asked to consider the offer and report.
Mr Beal supported the suggestion. He for one was utterly confounded with the figures presented at the different meetings, and would not know how to act until some explanation was given. In answer to Mr Reeves, bankrupt stated that the securities held by the bank wero not of recent purchase.
Messrs G. L. Denniston and J. Davie were elected supervisors.
CHRISTCHURCH, Jus* 20.
A meeting of Lightband, Allan, and Co.'s creditors was held to-day, when a statement was submitted showing liabilities L 101.596, of which L 5.186 are unsecured. The assets include stock-in-traclo L 51.000, book debts LU.OOO, real estate L 24.455, sundries L 18.648; leaving a surplus of L 3.509. Mr Enabling (inspecter of the Bank of New Zealand) and Mr C. W. Turner were ap. pointed supervisors. The bankrupts' statement showed debts to unsecured creditors, L 5,186 12s fld; other liabilities, L9G,409 12s 3d ; total, L101.G98 4s 9d. To the credit side : Stock-in-trade, L 50.969 12s 5d ; book debts, LU.695 5s sd; real property, L 24.458 8s lid } surplus in the hands of secured oreditors, L 17,6282« 2d ; cash in hand and office furniture, L 354 10s 7d; total, L 105.105 19s 6d} credit balance of the estate, L 3.509 14s 9d. On the motion of Mr Turner, it was unanimously agreed to allow the bankrupts their furniture and household effects.
MEETINGS OF CREDITORS., Issue 7938, 20 June 1889
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