IN BANKRUPTCY.

Mataura Ensign, Issue 777, 16 August 1900, Page 2

IN BANKRUPTCY.

RE JOHN HAMILTON, NUBSERYMAN, •.- gobs; A meeting "of creditors in this estate was held at the Gore Courthouse on Tuesday, the Deputy Offioial Assignee (Mr O. Bout) presiding. There was a large attendance of creditors. Mr Neave appeared for the bankrupt, Mr Bowler for B. G. Buchanan,' Mr Poppelwell for the Loan and Mercantile Co., and Mr Niohol for the Otago Fruit and Produce Co, Farmers Agency, and Aitken and Broad. Debtor's statement was as follows : —

Examined by the Assignee, debtor deposed that he was a nurseryman, and had been in business in Gore for the past three years. Started with about £40 or £50 pounds worth of nursery goods. Also had an interest in a two-roomed cottage at Merino Downs, which was sold for £40. Kept books during the past eighteen months. Took stock every year. The first year he had a bad season, losing everything. When he started business he owed about £40 at Tapanui — Mair's Trustees and G. T. Dawson. His second year was better. 'Was able to improve the place considerably, but was no better off so for as cash was concerned. At the end of the third season the crops went bad. Attributed his bankruptcy to bad seasons and loss of crops. Was married and had three of a family. Russell's security was over the stock and implements, Buchanan's over the crop. Held 20 acres of land, the terms were : £1 per acre rental for the first year, and £2 for each year afterwards up to the end of seven years. Buchanan took possession of the garden and stock in April. Buchanan held a lien over the crop. The property belonged to Mr Bowler. Bus sell seized and sold the stock and implements under his lien. Thought ' they_ realised £40. Borrowed his filing fee from Mr Ncave. To Mr Poppelwell : The Loan Co.'s account of £73 was principally for manures. Told Mr Wait in January last that he had a contract to supply Menzies and Co., Dunedin, with 100,000 cauliflowers at £6 per 1000. Supplied 10,000 or 15,000 during the season, but the bulk of the crop was an entire failure. Planted 75,000 cauliflowers. Buchanan took a bill of sale over the growing crop in' February in consideration of an advance of £225. Mr Moore, Dunedin, gave a oheque for the amount, and debtor handed Mr Moore back the cheque to square certain bills. To Mr Nichol : Entered into a contract with White and Co. in February to supply them with rabbits at 6Jd per pair, with £1 per 1000 bonus. The contract was to run till the end of September. It closed last month. Cleared £10 or £12 during the ourrency of the contract. To Mr Bowler : Negotiated with Mr Bowler to buy the property on which the garden was situated. That would be about July last year. A gentleman named Baker in Dunedin was to finance it. Mr Buchanan was to become security for the sale. He did not have to stand security. Buchanan gave debtor a bill for £69 15s. Did not tell Buchanan that the bill was to pay a deposit to Mr Bowler. Mr Moore, Dunedin, discounted the bill. Used the proceeds for different purposes — paying rent, etc. Was not in difficulties six months 'later. Quin's debt was for stock, piano, etc, purchased in December;' The cauliflowers that were sent to Menzies and Co. went to Buchanan's credit. Menzies wrote stating that the proceeds of the cauliflowers would be credited to Buchanan. To Mr Poppelwell : Erected a cow shed to hold 20 cows on the property leased from Buchanan. The shed cost about £40. Spent £120 in bone dusLon Mr Bowler's land alone. After further questions the meeting was adjourned sine die.

LIABILITIES. Unseoured creditors . . . . £371 8 0 Sooured creditors .. . . 235 0 0 606 8 0 Less estimated value of seourity.. 190 0 0 Total debts . . . . £416 8 0 ASSETS. Book debts .. .. .. 14 7 0 Furniture .. .. .. 15 0 0 Deficiency .. .. '.. £387 0 0 The usecured creditors were shown as follow : — W. Qain, Tapanui . . . . £22 0 0 B. and F. Wallis, Gore . . 7 0 0 G. T. Dawson, Tapanui . . 17 0 0 Mair's trustee, Tapanui . . 17 0 0 F. Menzies, Dunedin . . . . 20 0 0 CHago Fruit and Produce Co., Dunedin .. .. 11 0 0 Farmers 1 Agency Co., Dunedin.. 20 0 0 Moss and Co., Dunedin . . 50 0 0 D. O'Cttllaghan, Gore . . . . 7 0 0 T. Thomson, Gore . . . . 7 0 0 L. and M.A. Co., Gore . . . 73 0 0 J. J: Green and Co., Gore . . 10 6 0 Massey and Co., Gore.. .. 33 0 0 S. G. Inder, Gore . . . . 12 0 0 B. Wyber, Gore . . . . 6 0 0 J. Cox, Gore . . . . . . 16 0 C. G. Thurston, Gore . . . . 36 1 0 E. R. Bowler, Gore .. .. S 5 0 J. McKay, Mataura . . . . 8 0 0 J. O'Neil, Gore . . . . 4 0 0 M. Hamilton, Gore . . . . 410 0 £371 8 0 SECURED CREDITORS. John Bussell . . - . . £60 0* 0 R. G. Buchanan . . . . 175 0 0 £235 0 0