MEETINGS OF CREDITORS.

Lyttelton Times, Volume CXXIII, Issue 16060, 15 October 1912, Page 5

MEETINGS OF CREDITORS.

JAMES FORRESTER

A meeting of creditors in the bankrupt estate of James Forrester, butcher, of Sydenham, was held in the Official Assignee's rooms yesterday afternoon. Mr J. Evans, 'the Official Assignee, presided, and about a dozen creditors were present. The debtor, in his sworn statement, said that he had been in Christchurch for thirty-six years. He attributed his position to the fact that he had speculated in the frozen meat export trade. When ho sold out his retail butchery business and' went in for the wholesale exportation of meat he had a capital of £3OOO. During the slump of 1903-4 he lost £2600. His wife then assisted him financially and he started in the butchery business again. He had filed owing to the pressure of certain creditors. The principal unsecured creditors wero Dalgety and Co. £22, New Zealand Farmers Co-operative Association £4O, Matson and Co. £l4, C. Horwell £197, J. Fairbairn £7O, W. H. Downer £4O, Christchurch City Council £ls, B. Mora £9 10s, Gamble £6 ss, H. L. Bowker £lO 10s, D. Coleman £2l, Canterbury Frozen Meat Company £6 10a, J. I. Smail £6 10e 6d. Speirs and Saunders £7 10s, F. C. Raphael £BO, Trustees of George Sheppard £75, F. D. Kesteven £4O. The total amount due to unsecured creditors was £692 18s 6d; The secured creditors ■wero Gould, Beaumont and Co. £4OO, W. Izard £2OO, National Bank of New Zealand £350, the security being property in Sydenham valued at £950. The assets were stock in trade and fittings, valued at £43 15s, and book debts, estimated to produce £35. A resolution was passed to the effect that the fittings, and stock in trade should he returned to debtor in order that he should be enabled to make a living. Several creditors spoke kindly of the debtor and sympathised with him in his, present' plight. Finally, it wa6 decided that bankrupt should bo recommended for his discbarge at the earliest opportunity. After debtor had thanked his creditors for the kind manner in which they had dealt with him the meeting terminated. M. W. LAKE. A meeting of creditors in the bankrupt estate of Matthew William Lake, farmer, of Amberley, was held yesterday at the Official Assignee's office. The bankrupt stated that he had rented a farm of 492 acres at Amberley, and had received advances for stock from the New Zealand Farmers' Co-operative Association, to whom_ he had given a bill of sale over everything. After carrying him on for about ten months they liad demanded a settlement and had sold up everything. Want of capital had been the causo of his failure. The trouble was that he had been unable to stock his farm and had fjot nothing off it. A creditor said he considered the position was not a satisfactory on. and that the bankrupt should have kept some statement of his private expenses. The Official Assignee said that the position, was not very satisfactory, but ho would see the Farmers' Co-operative Association and ascertain what particulars ho could get from them, including the reason for their stoppage of credit. The amount owing to unsecured creditors was £345 17s 6d, the principal creditors being—S. Vaughan £135 4s. J. Hndler £32 ss, Reid and Gray £26 14s, Now Zealand Farmers' Co-operativo Association £2O 12s 6d. Montgomery and Co. £l9, D.T.C £lo 13s Chamberlain Bros. £l2 3s. There were no assets, tho total of the amounts due to the unsecured creditors making up the deficiency.