MEETING OF CREDITORS.

Evening Star, Issue 8529, 30 May 1891, Page 2

MEETING OF CREDITORS.

re hj. schaper, A meeting of creditors in the estate of Heinrich Schaper, of Danedin, restaurant keeper, was held this morning. There were eight creditors present, and Mr Calvert appeared for the debtor. The bankrupt's statement showed! — Liabilities to unsecured creditors, L 122 17s 5d ; to secured .creditors, L3O (value of security, L 75). The assets consist of surplus from security, L 4 5; bnok debts, L 248, estimated to produce L 12 0; total assets, L 165. The apparent surplus is L 42 2s 7d. The unsecured creditors are :—W. Patrick, L 56 Bi9d; H. Dodd, Ll2; J. Alexander, L 7 8s 2d; W. Duke, L62s4d ; J Jack, L 4 15s 2d; W. Bates, L 4 10s; M. and J. Meenan, L 4 Is 4d ; H. Schaper, juu., L 4 ; J. Cable, L 3 18a 5d ; Swan and Masterton, L 3 2s; A. M. Kane, L 3 ; Fang Fung, L2Bs lid ; J. Fox, LI 15:) 8d ; R. Walker, Ll 12t Sd ; W. Bull, Ll 12s; C. Georgeson, Ll 128; M. Sullivan, Ll lis ; City Corporation, Ll 6s 3d ;E. Solomon, 16*; Simon Bros., 9s 9d ; A. Gillies, 7s. The secured creditor is Mr E. J. Bryant, whose bill of sale is over the stock-in-trade, furniture, etc. Baukrupt, examined, said ho had been in the Star Restaurant in Moray place for close on five years, He bought the business, with furnishings and fittings, for Ll3O, which be paid in cash. After making that payment he had LlO or so, free of debts. For the first two years the business paid, but it then fell off, and during the past six months he had no boarders. The dinners brought in about 25s a day. For rent he pud L 6 a week, and in wages L2 Is. He had lost money by bad debts. Many o? the parties had gone to Sydney or Melbourne. It was during the time of the strike that he let the accounts run up. The men were exporting work every week. In March ho gave a bill of sale for L3O, out of which he paid L 27, the remainder going in expenses. There was a piano, which belonged to his daughter, who bought it with money which her grandmother left her. A sewing machine belonged to his wife, who purchased it out of the money she earned in cleaning offices and washing. The Assignee said there were three parties in the family who stated that the piano belonged to the daughter, and under the circumstances he did not think the instrument could be claimed for the estate.

Mr E. J. Bryant said that when bankrupt gave the bill of sale he stated that he could pat the piano and the sewing machine in also, but he begged that they might be left out, and he (Mr Bryant) agreed to that. After discussion, the Assignee remarked that it appeared extraordinary that bankrupt should have allowed such a sum as L 240 for debts to run up. He did not know how far the man was to blame, but there was no doubt about it ho had been severely victimised. He did not think that anything like Ll2O would be realised from the book debts. With reference to the advertisement regarding the sale of the stock-in-trade, furniture, etc., he wished to say that Mr Samson, by a misapprehension, stated in the advertisement that the estate was to be sold under distraint for rent, whereas it was under bill of sale. It was due to the landlord that this should be stated. Mr Bryant, who gave the bill of sale, remarked that the explanation caßt a slur on him, but The Assignee said he did not see that that was so at all. After farther discussion it was agreed, on the motion of Mr Solomon, seconded by Mr Walker, that bankrupt be recommended for discharge. The meeting then adjourned sine die.