Bankrupt Estates.

Gisborne Standard and Cook County Gazette, Volume II, Issue 212, 23 October 1888, Page 2

Bankrupt Estates.

THE BANKRUPT ANDREWS. A meeting of creditors in the estate of T. N. Andrews was held on Tuesday afternoon last Present: Messrs Maynard, Adeane, Wade, and tiimmons The bankrupt stated that he had a contract for felling Mr Barker’s bush and that Mr Judd had supplied him with goods and cash to the extent of £2O. He estima ed that he lost about £5O over the contract. Mr Whinray had supplied him with £52 worth of furniture on the bailment sys era and he had already paid off £l7. Th* debtor also stated that he had no horses nor cattle and only had a few tools, saddle and bridle. When he married ab.»uc 19 months ago he was then in work. He >eceived in August £6 12s from Mr Harris for work done. He was paying him at the rate of £72 per annum for which he had to board Mr Harns and son. He had not given Mr Judd any security but gave him some old Maori debts which he deducted off the account. The liabilities in the estate are as follows: —W. Judd, £2O; J. Mayuard, £3 15-»; J. Petersen, £fi Us; Todd, £4 12* Id; G Coppen, £8 ; F. J. Simmons, £lO ; Johnston and Co., £1 12s; Ad*-ano aud Primrose, £1 19s; Hatto» and Score, 19i 4<i; T. Yardley, £l 15a; W. Stuckey, 15s ; Garrett Bros., 12-.; J. Wade, £2; C, Beets, £0: J. Rosie, £1 10s. To al, £fl9 3s sd. THE BAiNKitUrr McULUrOHEY. An adjourned meeting of the creditors in the estate of H, McOlutchey was held yester day, when the following creditors ware present—Major Porter, Messrs Davis (L. D. Nathan and Co.), Ward, Nolan, Nichol, Steele, Evans, Harding, Matthewson, Watson, Shelton, and Dean.

The debtor said he filed owing to pressure from Shera Bros., L. D. Nathan and Co. and others. When he went into the Tokotnaru hotel he had no capital, and owed about £9O. Borrowed £340 to start business. Had been in the hotel a little over two years. Attributed his loss to the Licensing Bench compelling him to make improvements and additions to the house, and also to refurnish it, at a cost of about £230. Paid back the loan of £340. He also bought a piano at a cost of about £35, of which sum he had paid about £3O. He bought 400 sheep' for the natives from Mr Ormond. He was to have the wool until the natives paid him. The sheep were branded with his mark. Tue lambs were being branded with the natives’ brand.

By Mr Nolan: Lost about £2OO over road contracts.

By Mr Evaps J Got the money to pay the loan out of the profits of the business. The business was profitable at first, but towards the last he had to compete against others, and times got bad. Iu answer to Mr tlarding the debtor said he could not see his way clear to make any offer as there w<is very little business being done. M»j >r Porter said he could not allow Mr.McO'U’Ohey continue m the house any longer as he had not kept the place in repair, »»or had he paid any rent for the last month?, The Assignee said it was only fair to state that he had examined the house, and with the exception of one room it was in very fair order. The debtor denied that any rent was owing. He had paid the rent up to the last quarter to Major Porter’s agent. The Assignee thought the best course to take would be to sell the goodwill of the premises together with (he furniture. The piano and stock could be brought to town and sold. Major Porter said the lease was valueless as McOlutchey had not complied with the conditions. Qowevqr, fie would fie filling to continue the lease, provided tfie tenant met with his approval. It was decided to wind up the estate as quickly fts possible, and on the motion of M-jor Porter, eeooqded by Mr Davis, Mr J. A. appointed supervisor of tfie eat ate.