MEETING OF CREDITORS

Evening Star, Issue 18031, 27 July 1922, Page 1

MEETING OF CREDITORS

AN INVOLVED CASE.

BANKRUPT AWAITING SENTENCE.

A meeting of creditors was lield before the Official Assignee (Mr W, W. Samson) this morning in the estate of Edward Hodloy Kitchener Hughes, cleric. Bankrupt, who is at present awaiting sentence of the Supreme Court for embezzlement, appeared at the meeting in the custody of a detective.

Tho statement of assets and liabilities showed!-—Secured creditors, £1,000; less estimated value of securities, £51(3 10s lOd; deficit, £483 9s 2d: book debts, £6O j cash in hand £laj cash paid to Otago Building and Investment Society, £3j total assets, £76 j deficiency, £407 9s 2d. The only secured creditor was His Majesty the King, for £536 10s lOd (amount of debt, £1,000). Bankrupt, in a written statement, said lie attributed his bankruptcy to the fact that ho embezzled £I,OOO from the Post Office on. March 1, 1922. Of the above amount he invested £790 in the purchase, with Mi 1 Wood, of a storekoeping business at Berwick. That business was_ earned on by Mr.Wood and himself in partnership until he was arrested upon the charge of embezzlement. Messrs Carr (of tho Post Office) and Geddes (of the Lands Department) had investigated the affairs of the partnership, and had prepared the attached statement of accounts showing the present value of his interest therein to be £516. From that statement it would seem that the business had been carried on at a loss; but. as he had been in custody, ho had been unable to investigate the position or the reason for the deficiency. The Asignee asked if there were nay questions. This was really a meeting in the private estate, and the only one interested was tho, postmaster, Mr F. B. Adams, Crown Prosecutor, (appearing for the postmaster), said it was unnecessary for him to ask questions at this stage. Ho moved that matters bo left_ in the hands of the assignee with a view to realisation. This was a formal motion, so that the meeting would end. Matters in connection with the partnership could then be discussed privately with tho creditors represented. Mr W. L. Moore and representatives of- - other creditors present .agreed to jhis* and the piptiou iyas carried. J