CREDITORS' MEETING.

Hawera & Normanby Star, Volume IV, Issue 633, 25 October 1883, Page 2

CREDITORS' MEETING.

A- meeting of creditors in the estate of Jesse Sanriders Adams, of Hawera, was hel^ in the Courthouse on Monday Fast. There were present — Messrs B. A. Adams, G. T. Potto, and B. C. Tennent (proxy Sclanders and Company). On the motion of Mr. Tennent, Mr. Adams was elected chairman. Mr. Hamerton, solicitor for the debtor, read the deed of assignment filed, and the statement of assets* and liabilities, as follow ;— r ASSETS. Stock- in- trade of general outfitter, silk mercer, haberdasher, draper, etc., £1400.' Book debts: good, £150; bad, £100;— £250. Household furniture, £30 ; horses, £6. Total, £1086. LIABILITIES. Landlord for rent, £32 10s; B. A. Adam's, £650 4s; Sclandars and Co., Nelson, £322 4s lid ; G. T. Potfo, £300 ; Kaiapoi Woollea Manufacturing Qo., Ohristchurch, £224 0s 6d ; Harcourt and Co., Wellington, £137 15s 7d ; MeArthnr and Co., Auckland, £101 8s 54 ; L. D.' Nathan and Co., Wellington, £78 3s sa ; Turnbull, Smith, and Co., do, £73 14s 2d ; Kirkcaldie and Stains, do, £67 8s ; Whittem and Nicholson, do, £61 18s 3d; Messrs. Clark and Sons, Auckland, £60 17s 3d; Sargood, Son, and Ewen, do, £39 11s 3d ; Nathan and Co., do, £35 6s 8d; R. Barrett, Wellington, £7 15s; B. J. Sloane, £7 4s ; Bherle Sobnotvinger, £6 10.J 3d. Total £2206 11s Bd. i The debtor, examined by Mr. Tennent, through the Chairman, as to the causes iof his failure, said he had attributed it to bad times and. bad debts. He stated that the total amount due to the Bank of Australasia was, when he filed, £304 5a lOd, as Appeared by 'ftbe-banf

! book procured. His bondsmen had all along been unsecured. His bank book showed all payments and receipts since 13th June. £390 had been received, He did not inadvertently sent away any goods recently. A few days before he assigned some goods were sent down to Mr. G. T. Potto. They had been bought by him as a part security for bis cash credit bond. They would come out of the amount due on the bond. He calculated them worth £120 at stlling prices, -and kept a record of them, but had not given Mr. Potto an account yet. In reply to the chirman the debtor said : — ".You never asked me for any security, but you have refused to accept any." It was resolved wr-the motion of Mr. Tennent, seconded by Mr. Potto, " That the deed of assignment J. S. Adams to R. A. Adams and James Sclanders as read be confirmed." Mr. Tennent asked if any offer would be made for the. estate, as he was. instructed to consider one if made and of a reasonable amount. After some discussion had taken place, Mr. R. A. Adams stated he was prepared to offer 7s 6d in the £ to each creditor on the amount of his proved admitted claim. The 'meeting then adjourned. — Patea Mail. . ,