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MEETING OF CREDITORS.

. RE JOSEPH GATFIELR A meeting of creditors was held yesterday afternoon.in the estate of Joseph Gatfield, of Burnside.fellmonger.. Mr-Mondy appeared for bankrupt, and there were twooreditors present Bankrupt's statement showed r-TJnsecured creditor, £194 163 sd; assets, £226 The assets are made up as follow:-Stock-in-trade (wool : sheets), estimated at £l3; shipment of wool jointly with Mr J. A. Duthie, Milton expected share of profit, £45; claim against Dunedin Meat ana Export Company for selling woo l £l6B S y ooutltM y to instructions, The principal unsecured creditors are -—Dunedm Meat and Export Company, £l3O • Sar good, Son, and Kwen, £l9 lfc 34'. D ; U fn a r^-i? lo: T Dunedi ? <** Corporation! £6 10s; MiUmtnLime and Cement Company £Bl3s; Mutual Agency Company (in liquidation), £6 8s 4d; Todd and Brown £3Farmers'Agenoy Company, £8 13s lQd Bankrupt put in a statement to the effect that he was working for his brother wjthin ten ttonths ago, at £3 per week. He W™« <f™* on the business in the premises he leased at Burnsido as a fellmonger. and had drawn £3 a weok out of the husiness for his personal expenses and wages. He employed soraotimes twelve and sometimes seven or eight bands in the business. He boncht a large quantity of wool, scoured and ,™ Jt ' and placeJ !t in the Dunedin Meat and Export Company's hands for shipment to London, to be sold there about six months ago, and drew from the company money to pay current expenses, wages for himself and employes. The company sold it locally, contrary to Instructions, and. bankrupt reckoned at ft loss of 30s a bale on the 112 bales H» started with £4O or £SO, and was maktagttu* business pay up io the time when the Dunedin Meat and Export Company sacrificed his wool. c The Assignee said he did not see the necessity for bankrupt filing; no one seemed to be pressing him. ' Mr Mondy saidlthai Sargood, Son, and Bwen were pressing him. The representative for this firm said bankrupts debt was five months old. They had accepted a biU from Mr Gatfield which waYdue. They certainly intended to go for bankrupt. • The ASbignee said the only practical asset he? could see was the wool-sheets. Tbe swetinjj; was adjourned sine die.

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https://paperspast.natlib.govt.nz/newspapers/ESD18971015.2.9

Bibliographic details

MEETING OF CREDITORS., Issue 10445, 15 October 1897

Word Count
377

MEETING OF CREDITORS. Issue 10445, 15 October 1897

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