MEETING OF CREDITORS.

Manawatu Standard, Volume XLIV, Issue 800, 1 September 1923, Page 7

MEETING OF CREDITORS.

BANKRUPT FACTORY; MANAGER.

A further meeting of creditors in the bankrupt estate of Thomas Arthur Hardie, formerly the proprietor of a butter and cheese factory at Ashhurst, who filed his--portion m bankruptcy on July 17 last, was held at the Courthouse, Palmerston North, yesterday, the Deputy Official Assignee (Mr C. E. Dempsy) presiding. Others present were: The bankrupt and his solicitor (Mr Oram), Messrs A. D. Balmer, Ferguson (representing A. Burgess), Meatyard (Steel Construction Co.), W. Mills, E. \V. A. Osborne, A. Wycherley, W. J. Barres. A. Adamson, Anderson (Agricultural Department), E. Burton, W. S. Goodall (Lands and Survey Department), J. B. Baker,, J. C 4 Frahcis (Nathan and Co.), Nathan, Arlidge (Dulgety and Co., Ltd.), H. T. Avery, E. V. Spear (Barraud and Abraham, Ltd.), and A. D. McLean.

At the first meeting of creditors, bankrupt stated that ho acquired possession of a butter and cheese factory at Ashhurst in 1909. He also took over a general store, but following an accident in 1912 he found his business affairs somewhat neglected. During the slump period his financial position became worse, and an attempt to conduct a bacon factory resulted in a loss of £IOOO within twelve months.

At yesterday’s meeting bankrupt stated that lie tvas unable to say how much money ho had in the factory but lie thought from £ISOO to £2OOO. One item of £965 mentioned was for a boiler, the Steel Company agreeing to accept two other boilers in part payment. .He had reasonable prospects of paying for all the goods from the proceeds of the butter, etc. He estimated his output at 200 tons of cheese and 50 tons of butter. All his books, up to May 31, 1921, had been burned in a fire which occurred in the store, but he had kept books since. Had the slump period not come he could have paid everything. He Had received cream from Mr Baker last season and also an order signed by that gentleman to pay 25 per cent, of the proceeds to the Lands and Survey Department, .apier, but he did not send the money to the Government, neither did he give Mr Baker any deductions except on his credit slip. The bankrupt stated that ho should have sent the money so deducted, but he was advancing Mr Baker two cheques a month and ho did not think he had committed a criminal act in not sending the deductions.

Replying to further questions bankrupt stated that the amount deducted was about £2OO, wdiich he did not send to the Government. Ho had not sent any money deducted from the suppliers to the Government during the 1922-23 season.

The meeting at this stage was adjourned.