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MEETINGS OF CREDITORS.

BE .7, BEESON. Tho creditors of John Beeson, cf Dunedin, emit actor, met at 11 a.m. to-day. Mr T. 0, Farnie appeared for the bankrupt. The statement was as follows: —Liabilities: To unsecured creditors, L14611a 4d :to secured creditors, L 315; total, L4CI 11s 4d. Assets: Bo .k debts, LI 10s; cash in band, LI 5j ; furniture, L2O; surplus from securities, LBS: total, L lO7 ins. Deficiency, 1.354 10s 4d. The umecurcd c>editors arc—Barningham and Co , L3lls; Paterson and Barr, L2 13 1 41 ; James Chetwin, 1.8; T. Bi nnott, 1.8 fa ; M‘Galium and Co., L 79 7s 6d ; It. Carr.aU, L 9 16s; P. Rutherford, 1,5 1 F. Porter, Lls 10s; A. Bird, 1.4; Oaverfham Council, L 7 10s; and others for smaller sums. The secured creditors are tho trustees for tho Foresters’ Order, who hold security over two bouses and a section nt Oaversham, valued at L4OO, for a debt of Jjfll = *.

Examined on oath, bankrupt said that he had b?en contracting on and oil' for eleven years. M’Oalluin’s debt was contracted about the beginning of this year; it was for timber for a j b over which bankrupt lost L 45. Ho also' lost 1.40 by a contract at Oavcrsbam. Flo had no capi’al when ho took these contracts. Last year ho sustained an accident that laid him up f or twenty weeks. While ill he got 18s 10J-1 per weak from the Fo'csters.

The Assignee remarked that bankrupt had gone to the bad before he took up the two contracts lie had referred to, end therefore when he began those works he was in a worse position than having no capital. Mr Fulton (M'Callurn and Co.) did not believe that bankrupt had been laid up for two weeks, and he was not entitled to any conoidsration, having been fr quenting hotels. Bankrupt said that this statement was not tare,

Mr Chetwin knew that bankrupt had been ill for a number of weeks, and would move that he bo granted his furniture to the value of L2B(ss. Mr Carnall seconded the motion, which was carried unanimously, and the meeting adjourned sine die. RE I’’. PRCCTOR. A meeting of the creditors in the private estate of Farquharson Proctor was held at noon, those present being Messrs G. Esther, A. Maxwell (Equitable Insurance), and D. Haynes. 'Jhe bankrupt’s statement showed that the only liability was L 1.050 to B. North, teemed to the extent of L 1,450. The assets consist of furniture, L 330 (estimated value L 221), and bulking society shares e.timated at LIG, making with the L4OO surplus from secur.ties a total surplus of LG .6. Iho following claims were proved at the meeting:—G. Esther, L 204 2s 2d; Equitable Insurance L 53155; I). Haynes, Ll9 7sßd. Mr D. Baynes moved, and Mr G. Esther seconded —‘' That the bankrupt’s furniture to the value of L 221 bo granted to him on condition of his conveying it to bis wife.” The motion wa- carried by value. Mr Esther moved, and Mr Haynes seconded—"That the bankrupt be recommended for discharge.” Tiiis motion was carried unanimously, and the mooting adjourned sine die. EE J. JI. JONES, A meeting in the private estate of John Maitland Jones was attended by Messrs G. Esther, W. Jeffrey (proxy for Thomas Brown), IT. S. Jones (Hayman and Co.) D. Haynes, A.’ Maxwell (Equitable), and G, Blyth (proxy for Stout and Moncly), Bankrupt’s statement showed that the creditors were Edmund Smith (factor for Church Property Trustees), debt Ll3 ss, estimat d value of security Ll3 ss; and B. Pritchaid (Melbourne), L4CO, estimated value of security LBSO. The assets consist of furniture valued at 1350 (estimated to produce L 250), and L 450 surplus from securities, making a total surplus of L7OO, Claims proved at the meeting G. Esther, L 204 2s2d; Thomas Brown, L 8 16s; Hayman and Co , L3l4i 9d; D. Haynes, L 26 14s 7d ; Equitable Insurance, L 25; (Stout and Mondy, L2 2<. It was proposed by Mr H. S, Jones, seconded by Mr Haynes, and carried unanimously—“ That the bankrupt’s furniture to the value of L24L be granted to him on condition of its being conveyed to his wife.” On the motion of Mr Jones, seconded by Mr Blyth, it was unanimously resolved to recommend bankrupt for discharge. Meeting adjourned sine die, RE G. LATIMER, The adjourned meeting in this estate was hold at 2 p.m Mr J, Macgregor appeared on behalf of tho bankrupt. The Assignee said that when the meeting adjourned yesterday there were two motions be ore it, which, however, were not put—one that an offer by bankrupt of 7s 6d in the B be accepted. He understood that the bank objected to this. Mr Sinclair said that that was so ; they were not satisfied as to debtor’s position with the Union Company. The Assignee said that the Colonial Bank bad proved for L 293 with some interest, 'and as they bad the balance of the voting power it was no use putting the motion. The other question was as to granting bankrupt his furniture to the value of L 52. How would the bank vote on that? i

Mr Sinclair said that he would vote against it. The Assignee asked whether it was considered advisable that he should now proceed to examine the bankrupt, Mr Sinclair thought the examination had better be put oil, The Assignee asked whether it was the wish of the meeting to make any allowance to bankrupt. -

Mr Sinclair: We should prefer that the application should be made to the Court. The Assignee: But perhaps you may see your way clear not to vote at all. Mr Sinclair: If any motion is put to the meeting I shall vote against it. Mr J. Mill: It seems to me that we are only here as a few dummies to-day. The bank has everything its own way. Mr Sinclair replied that the bank was only exercising the same light as other creditors—the right Co vote as it thought fit. Mr Mill thought the bank was treating the rest of the creditors very unfairly, and would move that the bankrupt’s furniture be given to him, and that he be allowed L 3 per week while the estate was being wound up. Mr J. Macgregor asked Mr Mill not to press his motion, as it would not facilitate matters. But there would be a difficulty in getting another meeting of creditors, and it was monstrous that one creditor should stick up the business.

After further discussion, Mr W. P. Watson said that the reason of the bank taking this stand was that they were under the impression that Latimer’s business was the Union Company’s pure and simple. He (the speaker) had bad Mr Scott’s assurance that it was so. Mr J. R. Scott denied that this statement was correct.

The Assignee said that it would be necessary for him to ask the meeting to pass one resolution at any rate—a resolution approving of his action in buying a little coal, and also giving him instructions as to what he was to do with the estate.

Mr Mill: What if the bank object to that too?

Mr Sinclair replied that the bank would not object to anything that was reasonable. Mr Mill: If you are going to prove that Latimer’s business is the Union Company’s, you may as well whistle jigs to the tombstones.— (Laughter.) Air Sinclair: That is the general impression, at any rate. It was resolved “That the estate be left in the hands of the Assignee for realisation, and that his action in purchasing sufficient coal to keep the business going bo approved of.’’ The meeting stands adjourned until 3 p.m. on tho 24 th. Kit &. ALLEN. Five creditors attended the adjourned meeting in the estate of Alexander Allen, chainman, Mr A. J. Bathgate a opt a ol for the bankrupt.! Tho Assignee repotted that he had given bankrupt permission to go to Wellington to seek employment, Allen had since sent a telegram stating that he bad no offer to make and no prospects at present. Air Dickson wanted to know how he got the money to pay his passage. Air Barhgate said that ho had been granted a free passage by the Minister for Defence, Mr stamper (representing Air Bunce, a creditor) asked how it was that bankrupt had paid away LBl, which would hare been sufficient to pay 10s in tho £, The Assignee said that particulars were given at last meeting. Perhaps he had acted wrongly, but the only course to adopt was when he got employment to bring him before the Judge and ask that be be made to pay something to his creditors.

Mr Stamper objected to the payment of LG <o hia housekeeper, and said that it was not true that bankrupt bad six children—he bad only two. He (Air Stamper) would vote that bankrupt be brought back. Air Dickson thought it was a nice state of affairs when the Government give a man facilities to escape from his creditors. Air Bathgate raid that tho pass was given before Allen became bankrupt. The Assignee said it was possible that tho minuter had respect for the mau personally as an old soldie-'.

Air Bryant: An old soldier ! An old genera l , I call him.

After a lively disousssion it was unanimouslyresolved -“That the Assignee be authorised to take stops to prevent bankrupt getting his discharge until he makes a fair settlement with bis cn ditovs, say of 10a ir. the Meeting adjourned dine die. RE E. A. HABBIB.

A meeting in tho estate of Edmund Anthony Harris, of Dunedin, brewer’s traveller, was the last on the list for to-day. There was no quorum, Messrs A. Thomsen and Q. M'Gavin being the only creditors present,

The statement was as follows Liabilities to unsecured creditors, Ll7B 6s lid; assets (masonic aprons, jewels, and sword), L 5; deficiency, L 173 6s lid. The principal un secured creditors are : M'Gavin, M‘Gregor, and Smith, 150; D. M'Gregor, L 6 18a 4d; 41, Joel, Ll4; Mollison, Duthie. and Co., L2l O.ild; Bennett and Son, L 2 5; W. Lane and Co., L 3 2; Thomson and Co., L 5. Bankrupt, examined on oath, said that the cause of his difficulties was being ejected frem the Prince Alfred Hotel, King street. The things were thrown out into the street, and, being broken, sold for a very small sum. Mr M'Gavin had the bill of sale, and got tho proceeds. He (bankrupt) lost about L 250 in tho hotel. He owed only a week or a fortnight’s rent. Do had no money or property. Mr M'Gavin said that bankrupt bad been treated roughly by Hutchinson, who on a wee day got the assistance of vwo or three men and throw everything into the street. The two creditors expressed the opinion that bankrupt’s regalia should be handed back to bim. The Assignee said that he would act on the suggestion, The meeting stands adjourned until 3 p.m, to-morrow.

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Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/ESD18890717.2.14

Bibliographic details

MEETINGS OF CREDITORS., Issue 7961, 17 July 1889

Word Count
1,841

MEETINGS OF CREDITORS. Issue 7961, 17 July 1889

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