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MEETINGS OF CREDITORS.

RE ROSS BROS. An adjourned meeting of creditors in the estate of Ross Bros., of the Coffee Palace, Dunedin, wis held at the Official Assignee's office yesterday afternoon. Mr Wilkinson appeared for the bankrupts. Donald Alexander Robs, on being examined, stated tbat the takings at the Pa'aee while he was one of the proprietors were duly entered in the books produced. His mother and sister had been working for him, but not on salary. . Bis bonks contained an account of all his payments and receipts except a bill for LSO, which was obtained from a boarder, and paid over to Mr Hudson Witness's mother at times lent him i,mall sums of money when he was Bhort, and she also paid wages and sums for goods that were not entered in the books.

Mr Frazer (of Lomas and Frazer) said that the bankrupts' conduot made one think that there waa an intention to wrong the creditors. No ledger had been kept, L4O was said to have been lost, and the creditors thought one fraudulent payment had been made, Mr Wilkinson said that the ledger had been lost within two months' time of the bankrupts' going into business, and when they had incurred no liabilities. It was believed that someone in their employ had made away with the book. The Assignee remarked that the witness had been humbugging the creditors in every possible way, and he thought that the Judge should be asked to make an order for him to pay off his liabilities by weekly instalments. The witness continued that he was flood L2O for selling beer at a cavalry encampment, to which only two dozen of beor was sent. His brother John took no part in the business tun in the Royal George Hotel when witness had it. The stock and everything else in the Palace was bought in the name of Ross Brothei s. He was to pay his mother and sister wages if he could afford to do so, but he had never been able. He had not taken regular wages himself. When he left the Palace he gave his mother to understand that she was to have all she got from the boarders and everything else, on condition that she took over and paid his debts since the first meeting of creditors. The Assignee said the bankrupt would have to get from his mother a list of all tho money she had received and paid away since then. Tho bankrupt would also have to produce the books showing what thero was againßt the boarders at tho timo he left tho Ooffce Palace, and what was still owing. He might state that ho had sent out account* to a number of persons owing money to tho estate, but nothing had as yet come in. Tho accounts were the most frightful complication he had ever seen. Mr Frazer said that the money had been handled by the bankrupt and his mother just as they pleased. Mr Stone said Mr Gregg wished him to say that he had not advised the bankrupts to pay any money except an account of L 26, which the creditors authorised at the first meeting of creditors twelve months ago. Mr Frazer moved—"That the estate be left in the hands of the Assignee to wind up, and if so advised, to apply to the Court for an order for the payment of a certain sum out of the bankrupts' earnings. Mr Moritzon seconded the motion, which was carried.

Mr Wilkinson said he would vote against it. He held a proxy for Mrs Ross, who had a claim against the estate of Lll6. Mr Frazer: That is the first we have heard of that.

Mr 'Wilkinson said it had been before the creditors all along. The creditors would observe that the account wasono which Ross Bros, owed to Mrs Bobs at the time the meeting was held in June, 1888. The Bankrupt Baid LIOO of the amount he got to start a grocery business with. His brother had nothing to do with it. The Assigneo observed if that was the case Mrs Ross could only claim for LlO on the estate.

The meeting was ultimately adjourned for a week in order to give tho bankrupt an opportunity of seeing whether ho could make a composition with his creditors. RE O. V. BREWER. A meeting of creditors in the estate of Chas. Vincent Brewer, storekeeper, of Balclutha, was hold thi i morning. Mr Calvert appeared on behalf rf the debtor. The statement was as follows: —Liabilities to unsecured creditors, L 764 3s 2d. Assets: Stock-in-trade, L24012s Ed; book dobts, LlB 3.« 01; cash, Lll 16- 2d ; furniture. L 10; cow. L2 10a; total, L 283 2a 4). Deficiency, U 810) lfld. The creditors are: —Proctors, Jones, and Co.. LG4I \i fld; James Horsburgh, L3O lGs; E. Hallenßtein (rent), Ll9 12s ; John Edmond, Ll3 17s Cd; D. Benjimin and Co., L 3 2s; Colonial Bank (guaranteed by C. M'Donald, of Inch Clutha), Uti ; R. Hudson and Co, L2 10* lid.

Debtor, in answer to a question, said that ho thought a fair price could be got by tender for tho stock, which was all in good order.

It was resolved that the Assignee be authorised to soil the Htook by tender and see to the collection of the book debts. Debtor said that the furniture bad been tho property of his wife for the last sixteen or seventeen years. Some of it had been given her by her married daughter ; the rest she bought out of her own earnings. He (debtor) had been bankrupt before ; it was in 1878—when the floods ruined him. It was resolved that tho wife's claim to the furniture be respected, and that debtor be allowed L2 10a a week for two weeks—he to collect, tho book debts,

Examined on oath, Debtor stated that ho took up the lease of the premises in 1880. For several years be pat-1 L 5 10s a month; threo ypars ago it was reduced to L 4 10a. He did business chiefly with Proctors, Jones, and Co. tie mado up a balance-sheet three years ago, and found that he was worth 15s in the £. He wi'hed to file, but Proctors, Jones thought the busineps might recover. He owed that firm then about the same amount as now. The stock then was worth L 479. Ho thought he could pull round if he had a good ceason, but tho good season never came—trade fell away, and carts going round the country took away what little there was left. Ho had drawn nothing out of tho business excepting groceiios and monev for his insurance and rent. His wife olothed the family, and p»id butchers' and bakers' bills out of what she made by lodgers. The Assignee said that there did not seem to be any blame attachable to the bankrupt excepting in regard to delay. In answer to Mr Beal, debtor said that the books produced did not show his transactions with Proctore, Jones, and Co. He could produce statements, but tho transactions were not shown in the ledger. It was resolved that tho meeting be adjourned sine die, bankiupt to send all books and papers to the Assignee. Mr Calvert asked whether the creditors wouj 1 recommend the bankrupt for discharge; hut Mr Beal, who held the balance of the voting power, said that he could not entertain such a proposal until the estate had been further inquired into. HE N. WOOD. A meeting in the estate of Norman Wood, bricklayer, waß called for this afternoon, but only two creditors put in an appearance. Mr Mouat represented the debtor. The statement showed bankrupt's liabilities to be L 586 12s Bd. and the assets nil. The frincipal .unsecured creditors are as follow: iragg Bros., L 2 4; Clark and Thompson, L 4 10a; W. Wright, LIS 6s: O. Haynes, L 4; T. Burton, t& 19a 6d; Gilks,

L 4 18s; Taieri Milk Company, Ll2; Firzbardinge Jones, Ll2; Craig and Gillies, L 5; 3, G. Smith's estate, L 2£: Donald Boss's estate. L3l6s; Ford, L2l; W. Barolay, 132; Dunning, L 36.95; Guthrie and Lamach, LIS; Thomas Malone, hi fa; Gollan, Ll6; Innes and Oarolin, L 8 15h ; ,7. Longwoith, Ll6 10a; P. Farrar, Lls; T. Hickey and Co., I9lCs; W. Baird, L 5; S. Palmer, L 4 10s; James M'Donald's estate, L 9 IBs lid; Geddeß. LlO 10s: Smith and Fotheringham, L 24; James Hutton, Ll7; G. Clark, Lll 103: T. Payers, L 6; Lawrence, L6l9s; Dornwell's estate, L 6 10s: W. Edmonds L 10; Lyons and Hart, L 18: A. Wood, LB6. A. Wood is also a secured creditor, the amount of his debt beiog LSO, and the estimated value of the security L 25. Examined by the Assignee, Bankrupt said that in 1881 and 1882 he made losses on contracts amounting to L 76. He worked in Sydney from October, 1883, up to March, 1884, and then came back, and the person he left a power of attorney with had to abandon a contract, by which bankrupt lost L2lO. Then he lost LlB9 on the Boys' high School, Esther's house, and finishing the church at Northeast Valley, owing to Wilson filing. He had also lost LG directly and more indirectly on another transaction. Since then he had worked as a journeyman whenever 'he could get work. He produced a statement showing what he had earned, and said he had not avetaged 35s a week, having been idle for about two-thirds of his time. He owed nothing for wages. Hiß brother held a security over his furniture, having advanced L 25 to debtor when the bailiffs were in the house four years ago. It was the death of debtor's wife that brought him from Sydney. He had oight children—one, a boy, earned 6s a day, but only worked when debtorwqrked; and theonly otheronethatearned money was a girl, who barely kept herself. The reason he filed was because he was being worried with summonses. As therq was no quoru,in the meeting stood adjourned - untU to-morrow. *

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https://paperspast.natlib.govt.nz/newspapers/ESD18890702.2.8

Bibliographic details

MEETINGS OF CREDITORS., Issue 7948, 2 July 1889

Word Count
1,687

MEETINGS OF CREDITORS. Issue 7948, 2 July 1889

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