MEETING OF CREDITORS.

Evening Star, Issue 8644, 12 October 1891, Page 2

MEETING OF CREDITORS.

BE SAMUEL FINCH. The first meeting of creditors in the estate of Samuel Finch, of North-east Valley, laborer, was held at the Official Assignee's office this afternoon, and was attended by five creditors. Mr Stanford appeared on behalf of the bankrupt, and Mr Meatyard for a oreditor.

The bankrupt's statement showed liabilities amounting to L 62 15s sd, with no assets. The prinoipal creditors are:— Duthie Bros., L 1 8; S. Burton, Ll2 7s 4d ; Dr A. J. Fergusson, L 4 2a 6d; E. F. Lawrence, L 3 3s; Tyrrell and Sons, L2 8s 7d; J. Roberts, L2; C. Allan, Ll 16s; J. Longworth and Sons, Ll 13s 6J. The bankrupt, examined on oath, stated that he had been working down in the Northeast Valley for twenty years. He was doiog odd jobs for the last twelve months, during which time his wages had not averaged more than 30s a week, Some of his debts had been owing for more than twelve months. Two years ago he was working on piece at the fellmongery, and received on an average about 30s a week. He had a wife and eight children, the eldest of whom was twenty-one past. There were two of the family off his hands, and the other two were earning a little—one earning about 153 and the other 03 a week.

The Assignee: It seems perfectly clear that these liabilities have been incurred when you had not the means to pay for them. How do you excuse your running into debt when you had not the money to pay ? How can you justify it? The Bankrupt said that he had to get things for the house. The Assignee: You might as well say that if you have not got money yon have a right to go and steal. Yea have no right to have things unless yon pay for them. It is simply living on the charity of others, without asking them if they will be charitable. In reply to Mr Meatyard, The Bankrupt said he had furniture to the value of LlO or Ll2. fie had not a cow at his place, nor had he any poultry. He paid no rent for some time, fie was living on his brother-in-law's property. He had not within the last few days been trying to Bell a gold watch worth about L3O. Mr Meatyard said his client, Mr Burton, would withdraw his proof and proceed under section 50 of the Bankruptcy Act. Replying to other questions, The Bankrupt said he sold his gold watch to Mr Thomas Strain for ten guineas. The Assignee, having telephoned to Mr Strain, said that that gentleman stated he had given L 5 10s for the watcb. The Bankrupt said he was owing Mr Strain some money at the time, and let bim have the watch for L 5 10a atd the amount of the debt.

The Assignee: Well, I am not satisfied, Mr Finch.

Mr Meatyard: Where did you get the five guineas to file with, Mr Finch ? The Bankrupt: I borrowed it. '• Mr Meatyard: Whom did you borrow it from ?

The Bankrupt: I am not supposed to answer that.

The Assignee: Yes, you are; of course you are. Whom did yon borrow it from ? The Bankrupt (after some hesitation): I borrowed it from one of my brothers-in-law.

Tho Assignee: Which one ? The Bankrupt hesitated still, but ultimately, on the advice of his solicitor, answered saying he borrowed the money from John Strain,

The Assignee and the creditors present expressed their dissatisfaction with the cod[ duct of the bankrupt, but no resolution was proposed. The meeting was adjourned sine die.