MEETING OF CREDITORS.

Evening Star, Issue 9307, 4 December 1893, Page 2

MEETING OF CREDITORS.

A the'estate of Sre*!. T S I^L - 4Wri o| »** creditors a creditor [Mr James Gibson), SrMoiidy represented;, tfca bankrupt, and Mr Brent '*»*rt«Jtaacto|£ the Assignee, I UiMeoorea Sffel' £3 ' 7SI lla 7d > ****** creditor*, J 1 ?' 027 S^iL****'«,*»* "a. De-The-waeowii-tiWitdi* are-/—Hogg, v Howiaoo, MifidL kd& C 6., WW 10s 4<f; f^j»G»ivEi(^t!ii P £572 l^3d; Stoat, Moody, and Sim, £332 10s lid; Dunedin Timber and Hardware Co., £29ofia ltd; John Murdoch and Co., £259 , Hss 3d; John Edmond, £203 !4s 1 Id; James Hasdett and Hogg, Howison, Nicol, and Co., and executors of Peter Dey, as owners of the barque Alcestis, £180; John Mill and Co., "sl6l 19s; estate of Arthur Randsll, J£li3 9s 6d; Mrs Margaret HaUyer, t £138; James Gibson and Co., £l2O 17s 3d; Miss Annie Guthrie, £108; Walter John Guthrie* £lOl 16s 4d; Joseph Sparrow v £Bl; Maokerras and Hadett, £s9= i& lid; Peter Dey'a exeoators, £53 ; W. H. Graham, £3B {National Mortgage and Agency Co. of NX, £3B 17«; AllianceAssuranoeCa., £4B; James Duthie and Co., £s2{Otogo Harbor Board, £l3 lis 9d - r Corporation of Dunedin, £l29s7d; Union Steam Ship Co., £H 14b ; Murray, Roberts, and Co., £8 15s; Otago Harbor Board, £7 10s; John Keast, £8 17s 6d; James Lambton, £4 16s 3d; Arthur Randell, £3 4s; Michael Sullivan, £1 4s; total amount of debt, £3,731 Tfe 7d. The secured creditors are .-—Colonial Bant of New Zealand, £1,864 4s 3d (general overdraft), who hold aft securities—24 shares in ship Alcestis, £l6 «sßd; 22 shares in ship Ocean Ranger; £322; 40 shares in steamer Shag, £157; and a freehold property at Broad Bay, £400; total, £895 5s Bd. Colonial Bank of Now Zealand, £SOO (Onyx apecial account),: for which the bank hold as security 21aharos in the ship Onyx, valued at £712. Peter Dey's executors, £205 17s, for which 27 shares, valued at £BO3, in the ship Onyx are held as security. Hercules Anderson, of Lyttelton, whose claim is not stated, but who holds as security 9 shares, valued air£267, in the ship Onyx. Dunedin Savings Bank, £762 3s 9d, who hold as security a freehold property in Elder street, Dunedin, valued at £BSO. Dunedin Savings Bank (another transaction), who hold asseourityan interest in a freehold property at Waihola, valued at £2.750. Mr M'Lean, £1,340; amount of security, £1,500 (freehold property in Pitt street, Dunedin). Otago and Southland Investment Company* £1,500; amount of security, £1 4 500 (interest in freehold property at Hakateramea).- Mrs Margaret Wilson, Dennistown, £500; amount of security, £750 (interest in leasehold property in Vogel street, Dunedin). Total amount of debts of creditors holding securities, £9,422 ss; total estimated value of securities, £10,027 5s 8d; surplus, £605. 0s Bd. The assets in the esiafce consist of tarpaulins, trucks, eta, £SO; book debts, £250; estimated to produce £200; cash in. ■ hand, £ft 9s 3d; household furniture, £SO0 1 office furniture", £45; surplus from securities, £605 0s 8d; total assets, £1,409 9s lid. Ten shares in the Roslyn Tramway Company are also Bet down as assets, but their value is not stated. °H| Bankrupt, that the cause of his having to call his creditors together was through the bank having stopped his credit on the Ist September. At that stage his brother Walter- advised him to offer the bank a guarantee of £2,000, but nothing came of it, He had not increased his liabilities since the Ist September. He did not consider he was in a state of insolvency until the bank stopped his credit. According to his valuation of the balance-sheet it gave him £3,000 clear. He balanced his books every twelve months. Mr Walter Guthrie wrote making an offer of £350 oash for the estate. Mr Mill stated that at a previous meeting of creditors they all agreed to accept the first offer that was submitted to them. Ah application was then made which was equal to 3a 6d in the. £. As far as he could gather, the offer made to-day was only equal to Is 6d in the £. They were brought face to face witli a deficiency of something like 2s in the £ all through one creditor. If that was the caseit was a shame and a disgrace. He had no sympathy with a creditor who would do a thing like that. Mr Gibson : He doesn't want it. Mr Fraser explained that it was perfectly true that Mr Gibson had failed to fall iu with the offer of 3s 6d in the £. Mr Gibson thought that the case required careful investigation. It was a shame and a disgracethat the debtor should come here with such a statement. Mr Gibson stated that Mr Mill was not speaking according to facts. He did not think it right that a man should put eueh a statement before his creditors. If two. business men had been appointed to investigate the estate he might have been prepared to accept their statement. There Bhould have been > an independent investigation. Mr Hogg stated that Mr Leary was the person who made up the statement, Mr Leary was quite able to make up a proper statement. Mr Fraser: It is not fair to bring Mr Leary's name into the case. Mr Mackerras thought that the discussion had taken a wrong direction. He had a great deal of confidence in the statement made by Mr Leary. Mr Fraser; No one wants to challenge Mr Leary's statement. Mr Mackerras (continuing) said the affairs of Mr Guthrie had received careful investigation by Mr Leary, and the statement submitted was fair anil genuine. Mr Gibson : I did not say one word against Mr Leary. I say I am right in having tins estate thoroughly investigated. The discussion then dropped. The Assignee stated that he thought Mr Walter Guthrie offered £350 for the whole estate. Mr Mill moved—*' That the Assignee and Mr Leary make a thorough investigation into the affairs of the bankrupt, also- with regajd to the offer made % Mr W. Guthrie, and report to an early meeting of the creditors. Mr Hogg seconded the motion, which was carried unanimously. The meeting then adjourned sine die.