MEETING OF CREDITORS.

Evening Star, Issue 12768, 22 March 1906, Page 4

MEETING OF CREDITORS.

A meeting of creditors in the estate of James Robert Parker, of Outram, gold miner, was held this afternoon, and presided over by Mr 0. C. Graham, Official Assignee. Mr It. E. Pinch appieared for the debtor, and Mr Payne represented Mr W. J. Ward. The statement showed £219 15s lid duo to unsecured creditors (W. Snow £lO2, F. W. Knight and Co. £6l 15s lid, Watson Bros. £2l, W. J. Ward £l3, A, MLeod £lO, and four smaler sums); secured tor, John Neill, £6O (security estimated at £35); this deficiency in the security bringing the total liability to £244 16s lid. The assets consisted of £32 cash and £lO furniture, tie deficiency being £202 16a lid. Debtor made a written statement to the effect that he and, his family lived at Outram, and he acted as manager for the Post Office Creek Mining Company at £3 a week. From May oF 1902 the company did not pay him full wages. For fourteen months he received only £4O. For twenty-three months past be had worked the claim on his own account, but made only 30s a week for himself. The new company were to give liim 100 paid-up shares if - the floating came off, and he hoped to convert these into cash and pay a fair proportion of his debts, but Mr Ward pressed him, and so ho thought it fair to his creditors to become bankrupt. Bankrupt added , that if he got tie 100 shares he thought he could have raised nearly £2OO if that would have satisfied his creditors. Air Snow thought the creditors ought to take the debtor’s promissory notes at three, six, and nine months. It would be a mistake to press him, now. Mr Payne said that an order by the Judge would be better. His opinion was that the Assignee should take steps to upset bill of sale, and he would move in that direction. Mr Snow seconded the motion, and: it was carried. It was resolved to adjourn for a fortnight, bankrupt to see in the meantime whether he cuu make an offer.