W. PHILP'S CREDITORS

Evening Star, Issue 16993, 15 March 1919, Page 9

W. PHILP'S CREDITORS

\ meeting of creditors in the estate of William Philp, of Morning ton, pl«m»er. was called by Mr W. W. Samson (Official Assignee) for this- morning. Mr U. U. I Macdonald appeared for tno debtor: -Mr W. L. Moore for A. and T. Burt; Mr Hercus for W. L. Drcaver. The statement showed the debts to unsecured creditors to be £lB9 17s lid, and the assets £3O worth of furniture. The principal debts were: .To New Zealand Acetylene Gas Company, £4O; A. and I. Burt". £45: Charles Glasson, £l2: D. Bradlev, £24; W. L. Dreaver, £2O; S. H Rawson. £10: J. Edmonds, £l6 16s; A. T. Blythe. £ll Us 5dDebtor' put in a written statement, from which it appeared that about four years ago he carried on business as a working plumber, was free of debt, and worth about £l5O. Mr J. H. Kerr, wl.-o gave him a great deal of work, suggested that they should become partners and take contracts for plumbing. They did so, and took about 80 contracts. Mr Kerr kept the books and collected the moneys. About three years ago Kerr would not pay debtor money, and would not let him go through the books. Two years ago debtor came to the conclusion that they were in debt about £2OO. Since then debtor had been working for wages. He could not get a settlement with Kerr. Debtor had a wife and three children. He struggled to pay some of the old debts, but could not make enough to keep on with it. .Seven years ago he bought a house at Mornington for £4OO. He paid £75 and gave a mortgage for the balance. He improved the proj perty by about £6O. The mortgagee sold the property two months a?o. and it realised about enough to pay the mortgage. Mr Moore said that as the result of several meetings and inquiries into Philp's position the only real creditor now was Mr Blythe, acting for all, and his proof now lodged was for £127, representing 10s in the £. Apparently the first mortgagee sold without applying to the Court for leave to sell. In answer to questions, Philp said that Mr Rollo had two mortgages and Mr Blythe another, the latter being for £llß 10s. He (Philp) consented to the sale. The mortgage to Mr Blythe was not to himself personally, but as representing the other creditors. Mr Moore remarked that it seemed to him like beating a dead horse to proceed any further. The transactions extended over a long time. The Assignee remarked that he had £4 odd in hand. As there was no quorum the meeting could not pass any resolution, and the matter was left in the hands of the Assignee.