Article image
Article image
Article image
Article image
This article displays in one automatically-generated column. View the full page to see article in its original form.

MEETING OF CREDITORS.

A meeting of creditors in the estate of John Ogg, formerly hote'keoper, a bankrupt, was held in the office of the Official Assignee this afternoon, when there were five creditors present. Mr Thornton appeared for bankrupt, and Mr E. A. Joel for Mr Maurice Joel. Bankrupt's statement showed liabilities amounting to £251 18a 2d, and assets—book debts amounting to £46 (estimated to produce nil) and furniture £lB. The principal creditors were-Brown,., Ewing, and Co., £8; Maurice Joel, £l4l 9s 2d; A. AV. Joel, £24 6s 6d; A. and J. M'Farlane, £6; M'Gavln and Co., £l2 2a 6d; Powlev and Kcast, £4 15s; Speight and Co, £l4 153; Strachan, Limited, £l4 14b; Thomson and Co., £l3 19s 3d; R. B. Wilson. £3 10s. Bankrupt, in ]\'u writren statement, stated that when ho took over tho Railway Hotel thirteen years ago he had over £4OO in cash, which ho paid to the vendor for furniture, license, and stock. The weekly rent was £4 ss, For two years he did fairly well, and after that, business becoming dull, the rent was reduced to £3 10s, and subsequently to £3. In September, 1890, he owed Mr Joel £542 for rent, and gave a bill of sa'o ovpr his furniture and effects. In August, 1895, he borrowed £l5O from Mr A. W. Joel, paying the amount to Mr M. Joel, together with a promissory note for £125. Mr Maurice Jool then released the bill of sale, and bankrupt gave a fresh bill of sale to Mr A. W, Joel to secure the £l5O. .When the promissory note for £125 was given Mr M. Joel understood that bankrupt would not be able to meet it when it fell due, and Mr Joel gave him to understand that he would wipe off the debt and the promissory note would be destroyed after its due date. He heard nothing about the promissory note until the week before ho left the hotel, when he was sued for it.' He go!; a month's notice to quit the hotel on September 3, 1897. The proceeds of the sale of the furniture, etc., came to £l3O. This was the furniture that had coat him over £4OO and from time to time had been added to. During the last three years he had just been able to keep. things going, and he attributed his present position to being unable to make up the amount owing to Mr Joel in September, 1890, and to being turned out on a month's notice and having his effects sold up. In reply to Mr A. M'Farlane, Bankrupt said that Mr Joel had never asked him for any settlement of tho amount of the promissory note after the same was dishonored, nor ever approached him in any way as to how the bill was to be met. To the Assignee: He did not think he was to get out of paying the amount altogether, but thought it was to be left over until he could pay it off. Mr E. A. Joel said that Mr Meurioe Joel had no desire to press bankrupt, but in reference to the statement that had been made outside, that Mr Joel had treated bankrupt harshly, he would like to tay that he (Mr Joel) had lost £1,400 over the matter. The Assignee said that bankrupt appeared to have kept a very proper account of his transac tions, and everything appeared to be fair and above-board. On the motion of Mr Joel, seconded by Mr Bennett, bankrupt wa3 recommended for Mb immediate discharge. The meoting adjourned sine die.

This article text was automatically generated and may include errors. View the full page to see article in its original form.
Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/ESD18971105.2.29

Bibliographic details

MEETING OF CREDITORS., Evening Star, Issue 10463, 5 November 1897

Word Count
598

MEETING OF CREDITORS. Evening Star, Issue 10463, 5 November 1897

Working