In Bankruptcy.

Manawatu Standard, Volume XL, Issue 7353, 22 July 1902, Page 4

In Bankruptcy.

A meeting of creditors in the estate of Ar. Hickford, ftaxdresser, of Halcoaibe, was held at the S.M. Court yesterday, Mr G. J. Scott, D.0.A., presiding. Thoro was a large attendance of credi tors, principally wages raen. Mr E. G. Moore appeared on behalf of tho bankrupt and Mr Longhnan for the D.O.A. and several creditors. Debtor submitted a written statement, showing that bo started flaxmilling on March 14th, 1902, with £100 in cash. He also had debts totalling £100. Arranged with Messrs Fildos Mitchell and Co., of Wellington, to financo him if he sold his fibre co thorn, which he agreed to do, and entered into an agreement to sell to them at £24 10s por ton, Machinery was ordered, costing about £160, debtor paying £15 deposit. In Fobruary debtor stated ho bad mac arrangements for leasing certain flax rigbts, Euill site, etc., but did not get started before April. In May, Filde3 Mitchell and Co. agreed to advance £200 for wages, debtor giving security over the mill and flax rights. This money was paid away for wages and ."tores. Had to go to Fiides, Mitchell, and Ce. for money to carry on with, owing to tho wet weather experienced. liut thty r> fused to advance any more exept against 6bre. Altoge<bt-r had received £388 frcnn Fiides, Mitchell, and Co., and ihe books ►how nil payments Debtor attributed his position to starting in bus.ineas in the Winter, and not having sufficient capital to carry on with. There was ai»o a heavj fall i" the price of fibre at Home, p.nd mer. chants were lesa anxious to purchase. Tbe£lo'J started with debtor had recoived from his solicitor, and was obtained by the Bale of certain leasehold rights at Hunterville. He had expected to got fully £200 for the leases, nnd had given his solicitor an order for f'lso and costs. A further order was given to Fiides, Mitchell, and Co. to receive the balance Eventually debtor received only £180 6s 9d, of which £155 10« went to pay the £100 loan and costs, and the balance went to Fiides, Mitchell, and Co. On July sth tho latter firm seized tho mill-under the bill of mile, and Mr Mitchell stated his intention of working the mill for the benofii. of th» creditors after they had (.aid themselves. Beinp examined by Mr Loughnan, debtor detailed particulars in connection with the mill, stores, flax, etc, und money received from Fildes, Miichell and Co,, practically in corroboration of his written statement. They had agr.-ed to gi.vo him £24 10a pee ton for the fibre, but as a matter of fact they had only given him £20 for the laitor consignments. Did not file when Fiides, Mitchell and Co. took possession because ho thought ho could carry on and pay 203 in ths £. The statement of the businosa, as regards Fildos, Mitchell and Co. was explained by counsel, who offered on behalf of tho firm £24 10s per ton, although flax at tho present time was only worth £22 in tho open market. U'bo offer was mads to enable the creditors to obtain something trom the estate and would only be carried on till September. The quality would have to be graded g.f.a.q. Soveral questions were aßked by tho D.O.A. relative to thaduggosted contract, and Mr Mitchell and counsel then retired while the offer was being discussed by the creditors. Subsequently it was decided to adjourn the meeting for a fortnight. Mr Mitchell was also requested to carry ou the mill in the meantime to the best advantage. The Telegraph Department suppließ the following :—" Berne notifies tha 4 the restrictions hitherto enforced on telegrams to and from Ebodesin, British Central Africa, Orange Eiver Colony, Transvaal, Capo Colony, Natal and St. Helena, are now removed." A successful meeting of tho Fire Brigado Ambulance Glass was held last night, when Dr Campbell delivered an interesting lecture on " Fracture.'1 Last evening Dr Bockstrovv received a cable from his son Trooper W, Bookstrow, of the Eighth Contingent, stating that ho had arrived at Albany, quite The members of the Ladies' Ambulanoe Class are reminded of the examination, which will •be conducted by Dr Campbell thio evening. The work treated at the various lectures, will be reviewed, and ovary member should •ndeavour to be present. At a meeting of volunteer officers of the Paliuergton district held last night, Major Dank presiding, it was decided to fix two sets of tatgets on the HokowhHu rifle range, ". .-■-.-