MEETING OF CREDITORS.

Feilding Star, Volume I, Issue 278, 29 May 1907, Page 2

MEETING OF CREDITORS.

A meeting of creditorg in the estate of Alexander McMeekan, baker, of Feilding, was held at the Courthouse this afternoon. Mr J. 0. Scott, Official Assignee, presided. There were several creditors present. Debtor was represented by Mr Jolin Power, of Mr Carty's office. f he following statement was submitted ty debtor, who had no offer to make to his creditors: — I came from Christchurch to Wellington, July, 1904, with one J. Good. I had £80, and Good had £20. I took over tie Dunedin Cafe by paying the back rent of a late tenant, amounting to £21. I rented the same at £8 per week and spent balance of cash in buying furniture, etc. The Cafe was dosed for two weeks prior to our taking it over, and we never picked up trade properly again. We were unable to make a do of it owing to heavy expenses, and whilst there I was unable to do anything for five months, and fourteen weeks of which I was in bed with rheumatic fever. We had the business in the market for sale and kept it going for twelve months, during the last four months in the hope of being able to find a purchaser, and thus be in a position to pay ourliabilities which had crept up, the rent being already 14 weeks in arrear. We eventually found a purchaser, who took over the stock-in-trade, etc. at a valuation of £79, but this amount was taken by the landlord, who had refused to let the purchaser into possession until he, the landlord, was paid. I thus lost £80 cash, and I drew no wages out of the concern whilst I was in it. Some £120 of my present liabilities were incurred whilst in this concern. I then (in August, 1905) went to work at contracting, and whilst at it my - wife was taken ill for several months, and eventually, in January. 1906, had to be operated on. I was unable to work constantly and got be- * hind a little more. I was doing nothing from January until March, 19Uu, in which month I came to Feilding and took over lease of the Manchester Boarding House, which was furnished, commencing business on the 28th March. I had thirteen boarders, all of whom were labourers on the water and sewerage works. They paid 18s per week. I paid £2 10s per week rent for the boarding house to Messrs Miller and Tarrant. In the beginning of June the sewerage works were closed down and ten of the boarders left. I then thought of throwing up the boardinghouse, as it was not paying, but was induced to take over the baking business then carried on by A. H. Hall on the same section, as I thought I could, in conjunction with bakery business, carry on the boarding-house cheaper. The price I agreed to pay Hall was £166 16s Bd. I borrowed from Miller, one of the landlords, the sum of £100 which was secured by Bill of Sale on the plant and my furniture, and the balance, with the exception of £8 6s (paid in cash), was secured by Promissory Notes and post dated cheques. I paid Hall altogether £146 12s Bd. I paid £1 6s per week rent of bakehouse to my said landlords, making a total rental of £3 15s per week. I found later that, owing to having the boarding-house on my hands anl the expense I was under, I was unable to pay any of my back debts. In February I tendered for the catering at the A. and P. Show, but, owing to the excep- ' tionally bad weather, lost £64 3s 2d over the venture. From this time on my creditors kept pushing me. In March I got out of the boarding-house, receiving no goodwill, and from that time carried on the baking business only. On the ,20th May I was adjudged a bankrupt on the petition or the United Farmers' Co-operative Association. The petitioning creditor was represented by Mr John Graham. Mr Kelly, of Ongley and Kelly, appeared on behalf of Mr W. H. Hall, the former owner of the bakery business.