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MEETINGS OF CREDITORS.

KE P.. SCOTT. The first meeting iu the estate of Robert Scott, South Dunedin, baker, was held this morning; present—Messrs Anderson, Lee Smith, and Allen. Bankrupt's statement was as follows : Liabilities to unsecured creditors, L 255 17s. Assets: Book-debts, L 200,' estimated to produce L 150; cash in hand, L 10; total, LI6O. Deficiency, L 95 17s. The creditors are : James Anderson, L 240; Royae, Smith, and Co,, L9i E. G. Allen, L 4; M'Mullen and O'Donnell, LI 10s; M'lndoe, 83; Johnston and Robertson, 19s. Bankrupt said that he had been in business sinco 1886, when ho landed iu Dunedin. He had then about L2OO of his own, and borrowed money from Mrs Wrodhouse—about L3oo—after his own was gone. He still owed that money ; it was not stated in the schedule because Mrs Woodhouse did not claim it. He first got into difficulties over twelve months ago. There was no profit on the broad, and his money kept going, fle had kept a check on his expenses, to see how the money was going, and told Mr Anderson how he was doing. The stock and plant wore sold on the 3rd July for L7O. The original oost was Ll5O. The things sold for L7O included two light vans, two sets of harness, a horse, and all that belonged to the bakehouse and shop. Mrs Wooton, the purohasar, was to pay for the bread baked on the Ist and 2nd July, VVith the L7O received ho paid several accounts,includingfourmonths'ront,Ll4odd money borrowed, and expenses of filing. When lie sold out ho had an idea that the proceeds would not pay all his debts, but he did not know exactly how much he was in debt to Mr Anderßon.

Mr Andpreon s*id that bankrupt must have known thje ejeaofc siini, for there were the bills to show it. •' ■ Mr tee §mith said that he had allowed.

bankrupt LlO worth of goods on the distinct Understanding that the debt to Mr Anderson wa9 not more than L7O or LBO, and withdrew a summons on the express promise that bankrupt should pay LI per week. Bankrupt said the promise was that he should pay the LI per week if he could spare it. The Assignee said there was little doubt that if bankrupt knew (as he should have known) his position at the time of tho payments to Hancock (L 6) and Woodhouse (Ll4 15s), these amounts could be recovered in the Magistrate's Court. Mr Anderson remarked that he had told bankrupt that the amount realised by the sale should be divided between the creditors.

The Assignee said that directly bankrupt got that L7O he should have placed it in a trust account and filed as soon as he could put his affairs in order. It was unanimously resolved " That the Assignee be authorised to collect the book debts, and if so advised to bring a test case in the Resident Magistrate's Court for fraudulent preference." A motion was also carried granting bankrupt an allowance of L2 per week for two weeks. Meeting adjourned sine die. KB E. COYLE. A meeting in the estate of Edward Coyle, of Lower Ryeburn, hotelkeeper, was also held this morning; present—Mr Watkins (Lane and Co.), Mr Low, Mr James (Tapper and Co.), and the Official Assignee (in Proctors, Jones, and Co.'s estate.) Bankrupt's statement was as follows: Liabilities: To unsecured creditors, L 284 16s 3d; to secured creditors, L 530, less estimated value of securities, Lsoo—surplus to contra, L3O; total, L 314 16s 3d. Assets: Stock-in-trade, L 10; book debts, LlO3, estimated to produce L4OJ; deferred payment section at Swinburn, L2O ; weighbridge at Lower Hawea, L 4 ; total, L 7. Deficiency, L 240 16a 3d. The principal unsecured creditors are:— G. Murdoch (Eweburn), Ll4 16s 6d; R. Glenn (Naseby), Lls ; Proctors, Jones, and Co,. L2O; T. Low and Co., L 24 10s; D.1.C., Ll4 ; W. Lane and Co., Ll7 6s 6d; Thomson and Co., L 25 6s Cd ; A. Tapper and Co., Ll4; J. Wilson and Co., Ll7 4i; J.Speight and Co., LI 12s; Poter Loughlin, LI 2 10s. The only secured creditor is J. Brown (Naßeby), Ls3o—secured to the extent of LSOO by residence and acre section on the east side of the Kyeburn River, and the Carriers' Arms Hotel with the furniture therein. It was unanimously resolved—" That the Duuedin creditors refuse to accept 2s in the il or any other offer, until the bankrupt presents himself to the Official Assignee in Duuedin for examination, and in the meantime the Deputy-Assignee be allowed to proceed to realisation if he thinks it desirable, and that he give notice to Mr Elliott (of Gladbrook) re turnips." BE J. LUMSDEN. The first meeting in the estate of James Lumsden, of Green Island, carpenter, was held this afternoon, but no creditors attended. Bankrupt's statement:—Liabilities to unsecured creditors, LS2; assets, nil. The chief creditors are:—W. Quin (Tapanui), L 7; Bremner and Washer (Tapanui), Ll6; H. N. Mills (Mosgiol), L 7 ; F. Yates (Watmate), L 5; F. M. Rickman (Waimato), Ll6 ; Cullen Bros. (Tapanui), Ll2. Bankrupt, being examined, said tl a 1 ho was contracting at Tapanui over three yea r s ago, and got into debt through sickness and losseß on contracts. Bis wife was ill for two years and a daughter for four years. After that he was working at Mosgiel, where be averaged 5j per day and got further into debt, but he was then paying off some of his back debts. He was at Mosgiel for three j-ears. Some of his debts at Waimate were incurred seven years ago. He filed because Mr Mair, of Tapanui, threatened to issue a summons. His (bankrupt's) furniture was worth L4or L 5. He had five children dependant on him, and one son earning about LI a-week. At present he (bankrupt) was half employed at a wage of 5s per day. The Assignee remarked that it appeared to be mainly a case of misfortune. Meeting formally adjourned until tomorrow, RE E. A. KARRIS. The adjourned meeting in this estate lapsed, no oreditors putting in an appearance.

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Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/ESD18890718.2.13

Bibliographic details

MEETINGS OF CREDITORS., Issue 7962, 18 July 1889

Word Count
1,016

MEETINGS OF CREDITORS. Issue 7962, 18 July 1889

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