AN AUROA BANKRUPT.

Hawera Star, Volume XLVI, 22 July 1926, Page 4

AN AUROA BANKRUPT.

ESTATE OE J. F. MISCHESKI

A meeting of creditors in the estate of James Francis Aiischasfci, na-rmer, rate of A m on, was he hi in Hawera yesterday afternoon. The following were present: Messrs B. McCarthy ior the RaupoKoiiui Hairy v-0., F. C. Spratt- and \\ . G. W'alkiey lor Hie -Ylanaia noan do., J. A\ . Yearourv, Airs. AI. If. Alisctieski, anci ili. H. G. Broctie, acting ior Airs. Alischeiski. The L.O'.A. (Air. It. 8. oage; presided. Air. J. Bayley, instructed by Mr. H. B. Gibson, and Air. llodie, appeared on behalf of the bankrupt. secured creditors were the Alanaia Loan Co., £709 18s, and bankrupt’s wife £446 IBs, the securities having realised £446 18s and £B7. 3s_ respectively, leaving a deficit of £375 17s. Unsecured creditors were: Kaupokonui Dairy Company, £32; J. Hind, Awatuna,“ £l4; J. Pettigrew, Otakeho, £'i; C. Tonkin, Kaponga, £2; Goldstone and Patterson, Hawera, £3 10s; Hawera Brewery Company, £1 10s; J. \V. Yearbury, £1 10s; A. H. Shaw, 10s; AV. G.’ Strange, £4; 8. Lissaman, Kaponga, £l; Dr. Hockin, £6; J. A. G. Cosgrove, Alanaia, £1; Daily- News, New Plymouth, £4; Farmers’ Co-op., Hawera, 4s; H. B. Gibson, £4O a total of £lll 17s, making a total deficiency or £487 14s, there being no assets apart from the security held by secured creditors.

As bankrupt did not submit a written statement- of his affairs, he was placed on oath and submitted to examination. He stated- that 'he lost everything in a fire last June, when his is>me was burnt. The furniture, whicii belonged to his wife, was coveerd by- a policy for £220, which sum liad not yet been paid over. The furniture had been bought and paid for by his wife, but liis father took out the policy in bankrupt’s name, although,he knew the furniture belonged to Airs. Aliseheski. At the time of their marriage (in 1916) bankrupt had nothing. Air. Spratt: Have you given an assignment covering insurance money?— No, I don’t think so. Afr. Spratt: To whom do you expect the insurance company- to pay the money ?- —A£y wife. Air'. Brodie: You mean that all chattels covered by- the policy belonged to your wife —Yes. Air Spratt: Did your wife give an order to anyone to receive insurance money-?—Not as far as I know. On'being reminded by Air Rodie, bankrupt admitted that Air Gibson had received an order directly after the fine to receive the insurance money. Air Spratt: Can Air Gibson produce the older ? Air Rodie: No! The insurance company has tit. hut no doubt, it could be acquired. No other order had been given. Air Walkley: -You sold .some heifers secured to the Alanaia. Loan Co. —about ten or eleven —to a certain party, did youj not?: —No. I only sold seven heifers. Air Walkley: AATiat else? You told Constable Scanlon and myself you .sold 11 heifers. AVas that true? —I sold seven heifers and four cull cows. Afr AValklev suggested toi the D.O.A. that the cattle .should he followed up. Air Spratt: Who did you sell them to, and what became of the proceeds? —I don’t know who the man was, but he gave me a. cheque, for over £2O, which I cashed at" a store, and paid sundry accounts, mostly doctors’ and hospital. I could mot, say just where I cashed it. I da not keep a banking account. Afr Spratt: AVas thie buyer, of the stock acting for any company?—l do not know.

Mr Spratt: Did you get authority to sell the stock? —I did on r, previous occasion, and did not think I would need to do so again.

Mr Waikley: Did any of the money go towards paving promissory notes on your car?—No. Cull oows will not pay for cars.

Mr Waikley: Did you say you would put it across your creditors? —No. Mr McCarthy : Did you sell anyjpigs? Yes. Air W, Tail bought ten for £l3.

Air AlcCarthy: What happened to the money?—Paid debts. It was after the fire. I had 1 to pay board 'and buy benzine to ran about the country, and money goes. Air AlcCarthy: Did you sell any other pigs?—Yes. air Tremain bought four empty sows for £1 each. Air AlcCarthy: What happened to that money ? Went the, same way as the previous amount. No other pig® were sold. , Mr AlcCarthy : Why did you nob hand the pigs.over do theKaupokonui Dairy Co., .as promised ? —I wanted money. In the course of his replies to further examination, bankrupt said that he had intended to .pay ia 11 his creditors and would have paid the Loan Co., before his wife. He istoarted with the

Loan Go. in 1920, and also borrowed £4OO from ihisi wire to enable him to carry on operations l on the farm. Air. Spratt.: Have you borrowed from any other reflations? —No. * Mr. Spratt: When did you first know you were going off, the l’aran? — When the Loan Co notified me that they were .selling me up. Aii 1 . Waikley : The Loan Cb stepped in when they heard bankrupt had sold some of hiis istock. Air. Sprat,t.: Did you expect to go bankrupt when you gave your wife the bill of isale on the milking machines and motor car? —No. I would not have been bankrupt to day had 1 been left alone. Air. Briodie : {Who paid for the car?— Mrs. Ali.sciieski paid £SO deposit out of her own money, the balance being paid by instalments every three months. I contributed about £IOO of the purchase price of £235, which 1 earned bv (splitting wood and celling it. Aly wife paid the balance by money >she earned through aewing, etc. Air. Spratt: What caused you to go to. your solicitor ,to get a. bill of sale drawn up?—My wife wanted security. Mr: Spratt: You have not kept any acco u nfc whatever ?—No. Air. Spratt stated .that apparently bankrupt was in a hopeless mess and borne down with debts. {Bankrupt: No. Air. Spratt: You could not. take on further liabilities in the way of buying at mther farm. Alas. Alisolieski: 1 have taken a property at Lepperton, :iu my own name, 1 wanted to get away from Auroa, as I wa.s. alwayis ill there. Air Spratt: You could not buy the farm so it didn’t matter who got the money for the milking machines, or car a.s long as, your wife could carry on. — No. Air. .Spratt: Has your wife any other interests? Bankrupt refused to answer. The D.0.A.: Didn’t you tell the Loan Co. you had sold the stock? Did you think it right not to?—Air Gamilin told me I could do so and replace with others. The D.0'.A,.: l.t, might be. permission coisell cullsi and replace with heifers?— The first lot werei sold about three years ago. Air. Gamilin gave me permission. Air iSpratft,: Do you remember Alesisrs Waikley and Scanlon asking you about

selling the stock, and do you. remember saying, “I suppose this means gaol for mie” ?—'Yes, hut< it wa® only said as a rjoke. t didn’t have the wind up. •Mr. Walk lev said ‘he would like the estate realised as early as possible, as everything pointed to .the Loan Co. being left in the lurch.. Mr. Walkley moved, Mr \earbury seconded, .and it wa® resolved that the D.O.A. be instructed to wind up the eistaite early and to resist claims on behalf of Mrs. Mischeski.