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MEETING OF CREDITORS.

HE THOMAS FINDER. A meeting in the estate of Thomas Finder, of Naseby, hotelkeeper, held this afternoon, was attended by nine or ten creditors. Bankrupt, being unwell, was not in attendance. Bankrupt’s statement was as follows: Unsecured creditors, L 952 2a 3d; secured creditors, L 272 (less estimated value of security L 550), showing a surplus to contra of L27S; total liabilities, L 952 2s f)d. Assets: Stock-in-trade at Naseby estimated value, L 450; book debts, L2OO (estimated to produce L100)j furniture, L 175; property, L3CP 19s (surplus from securities in hands of secured creditors and also value of shares); total assets, Ll,oßs 19a; surplus, Ll3B 16s 9d. The secured creditor is Philip A. Connelly, bailiff, of Naseby ; while the unsecured creditors are: R. Wilson and Co. (Dunedin), L 74 8s 5d j Thomas Low and Co, (Dunedin), Lis9 4s sd; Liggins and Gibson (Dunedin), Ll5O 9s Id ; New Zealand Hardware Company (Dunedin), L 75 12s Id; P. Hayman (Dunedin), L2B 7s ; M. Joel (Dunedin), LII 9 14s lOd; James

Speight (Dunedin), 858 18s 4d; M'Gavin and M‘Gregor (Dunedin), L4O 2s 3d; Mills, Dick, and Co. (Dunedin), Llo2a ; M'Vjckar and Co. (Dunedin), LBl3s lOd; James Sim (Dunback), LGS-; E. Hall (Naeeby), L 100; James Alexander (Naseby), Lll; Alexander Craig (Tauranga), LSO; total, L 952 2s 3d. The property consists of six sections in Naseby, on which are hotel and stores (under mortgage to P. A. Connelly), and valued at L 278 above the mortgage debt; and 1,106 shares in the Golden Gully (Serpentine) Quartz Mining Company, valued at LB2 19s. Total value of property, L 360 19s. On the motion of Mr Wilson it was unanimously resolved—“ That, failing an offer of 12s 6d in the £, cash or equal, the Assignee be requested to realise the estate, as follows: The property and license, furniture and stock in the hotel, and all book debts be offered for tender in separate lines ; the fancy goods in a separate line; the groceries and ironmongery also in separate lines.” It was also resolved to allow bankrupt L 3 per week for five weeks. Creditors to be called together to consider tenders. BE W. D. SUTHERLAND, Nine creditors were represented at the first meeting in this estate. The statement was published yesterday. It was proposed by Mr G. Mondy, seconded by Mr D. M. Spedding, and carried unanimously— “ That the offer of 14s in the £ by Messrs Rattray and ISon be accepted in terms of Mr Davie’s letter, and that the Assignee be authorised, with Messrs Rattray and Sons’ consent, to disclaim leases or other onerous covenants, and to keep the business going pending completion of the proceedings.” Meeting adjourned till Monday, the 16lh inst.

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Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/ESD18890904.2.19

Bibliographic details

MEETING OF CREDITORS., Issue 8003, 4 September 1889

Word Count
453

MEETING OF CREDITORS. Issue 8003, 4 September 1889

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