IN BANKRUPTCY.

Hawke's Bay Herald, Volume XXXIV, Issue 11128, 21 January 1899, Page 4

IN BANKRUPTCY.

BRODRIBB BROS. The first meeting of creditors of Brodribb Bros., of the D.R.C. Auction Mart, Hastings, was held yesterday afternoon in the mart, the Deputy Official Assignee presiding. The bankrupts were present and Mr W. J. White, their solicitor ; also the following creditors : — Me3srs W. Kershaw, J. Vile, Wilson (representing Ross and Glendining), R. Bishop, and J. J. Jones, of the firm of Jones and Koko. Edward Brobribb, examined, stated they brought .£3OO worth of stook to Napier from Timaru.- Their only liability at that time was £180 owing to his brother-in-law, Mr E. J. Radford, of Bathurst. This was money lent at 8 per cent interest; .£3O had been repaid to him. Bankrupt took out an auctioneer's license in 1897, and again in June, 1898. Bad done a little business as an auctioneer with goods outside of those purchased ; had not kept a trust account showing those transactions. About .£5 was owing to clients on those accounts. His expenses in Hastings were 30s for mart and 10s for the shop. Until last October Mrs Brodribb was assisting ; she was to receive 25s a week and a lad 5s a week. He would have drawn out about £3 per week ; there was nothing owing for wages. The amount of £23 10s in statement due to Mrs Brodribb was for cash lent; bankrupt's brother had been in business with him for about two years; they were equal partners ; there was no deed of partnership. There was a verbal dissolution in October last — no legal one. The arrangement was that they were each to reduce stock and accounts, and in February to adjust and dissolve partnership. The first lot of stock sent to Waipawa was £540; from October to January .£lO5 worth was sent ; this left the stock in Hastings about .£SOO. In October, 1898, Mrs Brodribb had a cheque for ,£35 for wages due. By Mr Wilson : He went to Hastings in August, 1898. The amount due to Mrs Brodribb was for work done in Napier and Hastings, 29 weeks. Stock added to Hastings stock after witness's brother left was from the following firms: — Arnold .£32, Jones and Koko .£ll 2s, Kershaw .£l9, Marin and Day £5 11s 3d, Sayood .£lO, Wiseman .£l4. The sales from October, 1898. thirteen weeks, were about .£ll4. Had purchased goods foe' Mrs Brodribb, but had no record of amounts received from her; Mrs Brodribb had money when they married four years ago. Sold the watch got from Salek to a man for £1 12s 6d j purchased it before the fire. By Mr White: From June 1898 did very little business as an auctioneer. Kept that business distinct and made immediate payments for sales effected. Malcolm Brodribb stated that he had drawn about 30s per week. He was staying with his brother. Was to have half share in the business. In October had at Waipawa about .£7OO worth of stock. He purchased from Maoky, Steen and Co. .£152 and from Ahfeld Bros. £2 13s. When he started business he borrowed .£35 from Mrs Brodribb ; gave her no document. Received gold and notes ; no one else was present. He packed the goods for Waipawa with Hector O'Halloran. On the night of the fire he left the building about 8 o'clock ; had used a candle in the office prior to leaving. On the 30th had an auction, and sold about w£2o worth of goods. By Mr Jones: Reckoned the value of stock after fire at about .£250. By Mr Wilson : Would have removed stock to Waipukurau but for the Waipawa lease. Mackay and Logan's stock was mixed up with other stock. Thought there would not bo more than i!ls or £20 worth of it left. Mr Bishop moved that the Waipawa stock bo sold by public auction in Napier, and the Hastings stock similarly sold in Hastings. Mr Wilson seconded, and the motion was unanimously carried. The Deputy Official Assignee stated that he was not satisfied with the bankrupt's statement about the household furniture belonging to his wifo, and unless tho creditors gave other directions ho intended to Bell it. He should also mako further inquiries as to tho yaymont made by Malcolm Brodribb to Mrs Brodribb. Tho meeting was adjourned sine die..