IN BANKRUPTCY.

Hawera Star, Volume XLVI, 26 April 1927, Page 9

IN BANKRUPTCY.

ESTATE OF JOHN EDWARD SMITH AND ELLA SMITH.

A meeting of the creditors of John EdAvard Smith and Ella Smith (trading as the. HaAvera Fruit Company) Avas held iir the office of Mr R. S. D.0.A., this afternoon. The .statement of the bankrupt showed debts to unsecured creditors totalling £1517 Os Bd. On the. credit side there was stock-in-trade estimated at £35. hook debts estimated to produce £26 cash in hand £l4 Os 4d, promissory note £SO, household furniture, £5; total £l3O 0s 4cl. A list of unsecured creditors Avas as folloAvs: —A. B. Donald, Ltd., meichants (Auckland), £l4l 16s Id; C. H Slater, Ltd., merchants (Hastings), £222 11s 8d; West Coast Refrigerating Company (Patea), £23 7s Id; Gavin (Auckland), £1 8s 6d; Levin and Co., merchants (HaAvera), £26 cs od- Morrissey and Co. (Haivera), £34 8s 7d; H. G\ Apsey and Co., Ltd (Hastings), £l9 15s 6d; “Daily News” (XeAV Plymouth), £1; W. A. Parkinson and Co., Ltd., 18s; J. W. Funnel 1 (Nelson), £9 10s; H. J. Vernon (Otago) £l4 18s: Towuisend and Paul, Ltd. (Wellington), £92; J. C. Smith, auctioneer (Havvera), £26 6s Id; J. A. Oheyne (Woodville), £6 10s; Ernest Petty (Feilding), £8 2s 6d;; Syrne and Co., (Haw-era) £1; J. Radich (Hawera). £l9 8s; C. O. Ekdahl (Ha-w-era), 13s: C. W. Allen (Hawera), £200; J- J. Cahill, canrdftr (Haw-era), £8 3s sd; C. A. Cook, electrical engineer (Hastings). £24; A. Wave (Hastings), £l2 10s; Gibbs, contractor (Hastings), £1 10s; O’Meara, dentist (Hawera), £l4 14s; R, Holt and Sons, timber merchants (Hastings), £200; McLeod and Gardner, Ltd., timber merchant (Hastings), £7O; R. Harding (Ronkawa), £100; Mason Chammers (Havelock North), £24)0; Westerman and Co., drapers (Hastings), £5; Loach and Price, rdfumbers (Hastings), £l2; Lusher and Co., grocers (Hastings), £3 Ai H. Shaw, draper (Ha-w-era), £2 12s; Dillon and Muslin (HaAvera), £2: E. C. Hayton, plumber (NeAv Plymouth), £5 ; HaAvera County Electric Company, £6 10s; total, £1517 0s Bd. There Averoj no secured creditors. The bankrupt, John Edward Smith, in a Avritten statement said that from June, 1920. to December, 1923, he A\-as engaged at Hastings Avith the Hastings Manufacturing Company, as managing director, his salary being £6OO. The next year, to help the company, he drcAV only £4OO. The balance £2OO, Avas to be placed to his credit on the books •of the company. The next year there AA-as a further reduction of £IOO in his salary, on the same conditions as the former instance. When he left the company’s employ his account Avas not adjusted, and he considered that the company OAved him £4OO. This the company denied, and claimed that his salary Avas actually reduced, and that he had not right to recover same. The company claimed that bankrupt oAvel them £IOO for goods supplied. His solicitors discussed the matter Avith the company and eA-entuallv an offer of £75 in settlement Avas received. The matter had been left open. These figures had not been included in the statement, as they Avere open to argument. Bankrupt came to HaAvera at the end of 1923, leaA-ing various moneys OAvihg in Hastings, amounting to £7OO. These AA-ere private debts, including building a house, and cash advanced. The house Avas sold in 1923, and bankrupt lost money on the deal. Certain of the creditors at Hastings —namely, Mr Holt about £300; Mr Mason Chambers about £3OO. Mr Harding about £IOO, and Mr Cook about £20 —Avould not prove in the bankruptcy, but had abandoned their claims for friendship’s sake, Bankrupt started a fruit business in HaAvera in March, 1924. His Avife had sold furniture in Hastings, and it Avas this money that started the HaAvera business. At the outset the business appeared to do Avell. About August, 1924, the bankrupt found that things Avere bad, and the bankrupt, John Smith arranged with Messrs Donald and Slater to pay cash for future purchases, nr rears to be paid off by monthly instalments. As regards Messrs Donald and Co., this Avas done. The position appeared to improve after August, 1924, and in 1925 the brankrupt, John Smith, borrowed £350 from Mr Allen to purchase apples for cool storage on the security of the apples. This venture proved disastrous, and the bankrupts Avr-re compelled to buy apples from the merchants, as well. From that time difficulties increased. In August, 1926. the creditors Avere met, and the business assigned to the trustees. The business was carried on, a salary of £4 per Aveek being paid to John Smith. Three Avceks ago the creditors met again, and bankrupts decided to file. Apart from personal clothing and belongings, bankrupts had furniture valued at £5. Bankrupt John Smith had an insurance policy of £IOO, payable at 65. John Smith had also a full life policy for £2OO, Avhich Avas mortgaged for £4O. Bankrupt Ella Smith had £ls in the Post Office Saving Bank, and bankrupt John Smith £l7 10 in cash. Bankrupt John Smith proposed to go to work at once on the Kaingaroa Plains, trapping, in company with a friend. He expected five months’ Avorlt there. The monies mentioned Avould be required for the keep of bankrupts, and for trapping outfit, until returns commenced to come in. (Proceeding.)