MEETING OF CREDITORS.

Evening Star, Issue 8117, 17 January 1890, Page 2

MEETING OF CREDITORS.

RE GEORGE SMITH,

The first meeting of creditors in the estate of George Smith, billiard room proprietor, of Dunedin, was held at the Official Assignee’s office yesterday afternoon, and was attended by Messrs Kirby and Brew (who proved for Messrs Park’s account, it having been transferred to him). Mr D. D. Macdonald appeared on behalf of the bankrupt. Bankrupt’s statement showed his liabilities tc be Ll2? 6s lid, and his assets nil. The principal creditors are:—Richard Vanstone, LlO 7s Id ; J. A. Park and Co., L 37 15s; J. and J. Watson, L 2 5; J. Trewe, L 9 10a; W. Snow(Outram), L 6; W. Armstead, L 5 10s; J. A. Kirby, L 5 ss; Brown, Ewing, and Co., L 4 Is 2d. No quorum being present bankrupt’s examination only was proceeded with. He said he had been keeping a billiard room at the Grand Hotel for about two years. He paid about L 3 per week when he first went in, and L2 subsequently. Lately he had just been paying rent, when Mr Watson closed the room. He used to make the room pay, his gross proceeds sometimes being as much as LS, but the business fell to L 3 per week. He had no property and no expectations. He had a wife and three children to support. He did not put his furniture and clothing (which was v.ilifed at L3I 15s) in the estate, because he did not think it was necessary to do so. There was about Lv IQs due for rent. The reason why ho ran into debt to such an extent was because he endorsed bills for a man named Thompson for L3O. Bankrupt believed that an instalment of L 5 had been paid, but there was L 35 owing also for other rent. If his business was continued at Wain b {Jotel, he thought he could make it pay, and it was at present going on. The meeting then terminated, the creditors present recommending bankrupt for his discharge ; but the proposal could not be taken as a resolution, there being no quorum. RE SARAH SINCLAIR. A meeting of creditors in the estate of Sarah Sinclair, of Dunedin, hotelkeeper, was held at the office of the Official Assignee this morning. The following creditors were represented at the meetingW? Strachan (J. Esdale), Dunedin Brewery Company (J. Hyman), Haziett, W. Owen, J. Hankins, and James. The statement of the bankrupt showed the total liabilities to be LJ.I2 5s fid and the assets L 235. The principal creditors were—Mackerns end Haziett, Ll9 5s ; Dunedin Brewery, Ll6 ; W. Strachan. Ll4 ; J. Wilson, L 10; A. M‘Gregor, 1,12; Sievwright and James, Lit 12b 6d. The assets were shown to be made up of stock-in-trada, Prince Alfred Hotel, L4O ; book debts, L3O (estimated to produce nil); furniture and clothing, L 195.

The Assignee said the debtor had, In hor statement, overlooked a claim made by the Dunedin Brewery Company for a promissory note for L 327, drawn by debtor in favor of Kcast and M'Carthy. Debtor’s explanation of its omission was that she thought it was a pjst debt which would not be pressed. The debt, however, was within the Statute of Limitations, and ho did not see but that the c'aim was quite valid. Mr Kvjpr.n stated that he had taken over the book debts when ihg new firm hrd bought the brewery and the promlsory ns.te with them. There v.ms some conversation, in the course of which it appeared that the holders of the bill had never really pressed for payment of it, Mr Hyman stating that he had never done so, knowing tjiij the debtor had not been in a position to; take it up. Several creditors, and also the Assignee, ■ observed that a .debt of this sort should never have 1 been kept in the background while debtor was ■ allowed to incur fresh lia'didties. In compliance with tim 3Uggeslion of the Assignee, Jjir layman eventually . agreed fo withdraw his claiyn. ' 1 ft wa agreed by a" toe 01 editors presppt that t'n case was ops of hardship, and the Assignee pointed out that debtor bed tjken the protection of the Act because she was quite to pay some L3Q a month for working esipens- 1, when hpr receipts were not over L4O. It was finally rgfeed unanimously thaj the debtor should be allowed L 3 a week for tfirep weeks, during which time it was left m the b ifiao of the Assignee and Meisrs James and Hazlett to endeavor to find a new tenant (or the hotel at a reduced rental. The question of furnitu r o was allowed f) stand over for a week, for which period the meeting adjourned.