CREDITORS' MEETING.

Evening Star, Issue 11682, 14 February 1902, Page 1

CREDITORS' MEETING.

At the examkjatkm yesterday of the bankrupt William Johnson Wright, be explained that the mortgage to Laadlaw and Gray was executed four months ago. The house and contents belonged to his wife, and had beea purchased at various times -with her money. She bad means quite independent of bankrupt, having received, money from her mother before marriage. The latter bad been about four years in the colony. The list of articles in tie possession of the Assignee were good* bought for the liee street job, and had been sold to witness's son, ihe proceeds being used to pay the workmen. The shop belonged to John Henry and Robert John Wright,' his sons. It was never transferred to tbem, nor was it ever in witness's name. Witness never went to Mr Washer and asked him to make the papers oat in his sons' names. The statement which witness handed to the Assignee was made np from receipts and papers now in the possession of Mr Solomon. His wife had btirnt his trade books, he having told her to do eo. Be was ill at. the time. Mr Moore made up the statement for him. Witness kept some books—rough not* books. He could explain the state of his affairs to an accountant. Witness held shares in the Dunedin Starr-Bowkett Society, and soM tbem to his wife. He paid the money a.way. His wife got tie money with which she bought her shares from the sale of her house. The horses belonged to bis soni John Henry. He had never kept a banking account, neither did his wife or sons. Mr Haddock (Murcfoch and Co.) mentioned that the mortgage given by bankrupt to Laidlaw and Gray was executed witim a month of the date of assignment, and that a Mr Riddell had taken possession of ail the property (valued at £9O) in a shop to satisfy a claim of £5 10s for rent.

Mr Hosking remarked that if tie Assignee tendered the. amount of rent due BiddeH might have to restore the goods, but Mr Moore expressed the opinion that the matter was out of Wright's hands when the bailiff was put in.

Mr Haddock said it was the duty of the creditors to bring this matter before the Court, and make the bankrupt prove his statements. Mr Stewart would have carried out the arrangement macfe after the assignment if bankrupt had helped him, as promised, but he had failed to do so. He (Mr Haddock) was prepared to put down a sum to bring the matter to a bead; he was going to sit down quietly and lose £3OO, and let bankrupt's family get the benefit of it.

The Assignee considered the position an unsatisfactory one. All the property appeared to have been mortgaged. Bankrupt said he was prepared to give Air Stewart, all the assistance in his power. It was decided that, the prelim:r<ary expenses should become a, preferential charge, on the estate, and Messrs Haddock and Paterson wei« appointed supervisors.