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A QUEER BANKRUPTCY.

[From Ouk Own Correspondent ]

LAWRENCE, October 9,

The public examination of Robert Ferguson, a bankrupt, was commenced in the District Court here this afternoon. Judge Ward occupied the Bench. Mr J. F. M. Fraser appeared on behalf of a number of creditors, while Sir Robert Stout represented the bankrupt. Bankrupt said that ho got an entire hone (the Marquis of Salisbury) from Mr Robert Gawn, who gave him the use of if. He paid Gawn no money for the horse. He had had dealings with Gawn for about twenty years, and owed him between L2OO and L3OO this time last year. Gawn never asked him for any money, although he gave him Ll4B in May of the present year, the money coming through Graoie and M’Lean, of Titnaru, for horses that he (bankrupt) sold there. Gawn gave him the use of the entire for the season without charge. Bankrupt called the horse his own property. He never told the proprietors of the 1 Tuapeka Times ’ that he had bought the horse. He never had any conversation with Mr George Walker or Mr William Chalmers about his being the owner of the horse. The horse was handed over to Mr Craig on Mr Gawn’a behalf. He owned a trotting horse called Rockey, for which he gave Ll4. George Walker was a creditor of bankrupt’s. Walker asked him for money in January, but ho (bankrupt) did not represent to Walker that lie (Walker) was his largest creditor, lie remembered selling a waggon and a team of horses to Browne Bros. Perhaps it would be three weeks before his bankruptcy. The price of the turn-out was L 250. Browne Bros, did not press him for the money. He owed Browne Bros. Ll4O and his driver, Stivens, L5(3. He owed wages to other drivers, among them being Donald M'Donald, to whom he owed L6O. Bankrupt had a fair idea how ho stood at this time—viz , the month of June. After getting the balance of the money from Browne Bros., who deducted the amount owing to them, and also Stivens’ wages, he (bankrupt) bought the Clifton Hotel property, giving a deposit of L 46. He did not take possession of the Clifton Hotel, as it was burnt down shortly after he bought it. He sold his dwellling house after he purchased the Clifton Hotel property. There was a mortgage of LIOO on the dwelling, which brought L 225. Ho got L49from the auctioneer (Mr Thompson), who deducted his commission and an account which bankrupt owed him. Of the L 49 he gave Lls to the Assignee, and the balance to his wife and to his lawyer, and to Sir R. Stout. He paid LlO to Herbert and Co. in Juno. Arbuckle, Robertson, and Co. also got L4B from the proceeds of sale of horses and harness. He also paid Skinner L 22, and M'Keich and Robertson Ll7. All these payments were made in the month of June. Thompson and Gunn promised to assist him when he went into the hotel. He would not pay for the furniture in the hotel because it had got a bad name. He did not know who owned the furniture: whether it was Arbuckle or not. He was not pressed by any of his creditors until after he bought the hotel. M’Donald, his driver, got judgment against him for L6O. Herbert and Co. and Walker pressed him for money about the 10th of June. He believed after he bought the hotel that he could have carried on without being obliged to go through the Insolvency Court. The waggon he sold to Browne Bros, was an old one, about twelve years old. If the horses (seven) and waggon which were sold to Browne Bros, were put up to auction they would not have brought more than LIOO, although he had got L 250 for the turn out from Browne Bros. Cross-ex-amined by Mr Fraser: He first knew that he would have to go through the Court when he got a letter in July from George Walker, who wanted his account of LSI paid. He then resolved to have a private meeting of his creditors. This was on the 9th July. About a week after this he told the Official Assignee he would have to file, he thought. He was in Dunedin seeing Mr Ashcroft before he filed, but he did not consult Mr Thompson or Mr Gawn, although they had promised to assist him.

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Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/ESD18891009.2.12

Bibliographic details

A QUEER BANKRUPTCY., Evening Star, Issue 8033, 9 October 1889

Word Count
746

A QUEER BANKRUPTCY. Evening Star, Issue 8033, 9 October 1889

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