AN UNLUCKY CONTRACTOR.

Gisborne Times, Volume XXXV, Issue 3830, 13 May 1913, Page 6

AN UNLUCKY CONTRACTOR.

LIABILITIES £123 Is 9d —ASSETS *,lO.

A meeting of creditors in tlio bankrupt estate of John Middleton, of Gisborne, contractor, was held at the office <.f tho Official Assignee (Mr. John Coleman) yesterday afternoon. Bankrupt, was represented by Mr L. T. Barnard, while Mr H. Gillard, of Waimata, was tee only creditor who attended. Tire filed statement showed the only assets were £lO, cash in hand, while tlio liabilities amounted to £l2B Is 9d.

Mr A. G. Boce, Deputy Assignee, stated that £3 Ids of tho £lO had come in.

Bankrupt stated that lie had no offer to make. Ho had been in this district Id years, and did not harm any capital when lie arrived from Napier. For the first year he had worked as a casual laborer, and had then started as a contractor. Lately he had lost money on a number of contracts. His contract for work on the Waimata-Arakihi road last year had resulted in a loss of £lO. while on a- recent Ngatapa contract he had lost £lO in addition to his own labor. Ho was nowdoing casual work. Sickness in Ills family and pressure by his creditors compelled him to seek the protection of tho bankruptcy court. Mr Gillard stated that £2 10s of his debt of £4 0s Od was for wages. The remaining 10s 6d was for meals' supplied to men who worked for bankrupt, which amount was stopped from their wages. The wages were earned 12 months ago.

The Deputy Assignee said the wages had been duo too long to he entitled to a preferential claim. Mr (lilla.rd stated that bankrupt had promim* £°i >a J timeaml aKam ' ' The Deputy Assigned MW tIM would now liavo to bo tak* i. as an ordinary debt. Mr Gillard asked what ai cut the 10s 0d which had been collected fr<m th « men by hank ■ 1 1 r. The Deputy Assignee replied that that was a fine point, as it was rCiUD’ trust money, - y Mr Bufiiai'd hekl that this was a common practice. Bankrupt said his earnings averaged 9s a day. and a good deal had gone in doctor’s fees. He had had to keep up two homes, as he had been working in the country most of tho time. There was no further business, and tho meeting adjourned.