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MEETINGS OF CREDITORS.

REH. N. MILLS. A meeting in the estate of Henry Neel Mills, of Dunedin, miner, was held this morning and attended by three creditors. Mr Fraser appeared for bankrupt. Tho statement was as follows : Liabilities: Unsecured creditors, L 273 lis 7d ; secured creditors, Ll7 Ids, less estimated value of securities, L 25 ; surplus to contra, L 7 ss; total liabilities, L 273 lis 7d. Assets: Book debts, Ll7O, estimated to produce nil; surplus from securities, L 7 ss; deficiency, L2G6 6s 7d. The principal unsecured creditors are the Colonial Bank, L 147 9s 7d ; P. M'Gill, L4O; Anderson and (Jo., L2O; the Tuapeka Milling Company, L 8; A. Falconer, L 7 ; A. Barron, LlO ; New Zealand Clothing Factory, L6l4s. The secured creditors are A. and J. M'Farlane.

Bankrupt said that he had been in business at Mosgiel as a baker for six or seven years, and six months ago set up in the same line on the Otago Central. The men all left the part where he was established. He followed them up with stores, and lost money by so doing. He had not a list of his debts. For the last ten weeks he had been baking at Nenthorn, and during part of that time he lived on bread and water. He bad received a writ for LIOO odd from the Colonial Bank, and was also sued by another creditor ; that was why he filed. His wife was keeping York House as a boardinghouse. The furniture therein was not settled on his wife; it would be worth L2O or L3O. A pound or two was due for rent. It was agreed that the Assignee's bailiff should value the furniture.

Bankrupt, continuing, said that about seven months ago, when leaving Mosgiel, he received L7O in lieu of his claim to the house in which he had been living, and this money he used to buy into York House, the furniture of which cost liim LIOO. As to the other L3O, he received L 26 from the sale of a horse and cart, and had the rest in cash. He had been told that he paid double the value of the furniture.

The Assignee said it appeared to him that bankrupt had committed something very like perjury in making a solemn declaration that furniture for which he paid LIOO seven months ago waß only worth L 25. Mr Fraser remarked that bankrupt was compelled to give his idea of present value. The bailiff would tell them what the things were worth.

Bankrupt said that he had lost LIOO at one pay-day by the men going away. It was resolved to adjourn until Wednesday to permit of further inquiry into the estate. KE W. D. SUTHERLAND. A meeting in this estate was held this afternoon. The business being to confirm a special resolution, it was necessary that those in attendance should represent threefourths in value of the total debts and a majority in number of all creditors who had proved for over LlO each, and there was a delay of half an hour before these requirements could be complied with. This preliminary difficulty over, Mr G. Mondy moved " That the resolution passed at last meeting to accept a composition of 14s in the £ by Messrs Rattray and Son be confirmed in terms of the Act." Mr W. Scoular seconded the motion, which was carried unanimously and without discussion.

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Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/ESD18890916.2.15

Bibliographic details

MEETINGS OF CREDITORS., Issue 8013, 16 September 1889

Word Count
569

MEETINGS OF CREDITORS. Issue 8013, 16 September 1889

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