MEETINGS OF CREDITORS.

North Otago Times, Volume XXXV, Issue 7197, 28 July 1891, Page 2

MEETINGS OF CREDITORS.

A meeting of tho creditors in the estate of Robert Balfour, of Kakanui, was hold in the Courthouse yosteiday afternoon, when there were represented : Messrs Fleming and Hedley, L3 ; N.Z L. and M.A. Company L198 fls 9d ; F. Johnson (Pukeuri), L22 10a. Mr Leo (Messrs Hislop and Creagh) appeared for tho bankrupt. Tho Deputy-Assignee presided. The bankrupt stated that his assets wore his horse* and furniture, valued at L16 10s, He said that twelve months ngo ho told the N.Z.L, and M.A. Com~ nany ho would try and get a guarantee from his fathor for L1G0, but ho had received LI 10 from him and he considered that what his father owed him was pretty woll pqunred. IIo had paid L50 to tho N.Z.L. and M.A. Company. L20 had been paid to a firm in Timnru about Soptombor last. Ho had received L30 in cash from his father before ho came to Oatnaru, and ho had obtained L10 since ho wont to live at Kakanui. Ho could not romombor the date of receiving the monios, T, C. Dennison'e i account was for advanced cash at various times, but mostly in .luno. It was advancod to holp him to carry on business as a stock dealer. The advance had nothing to do with the purchase of sheep from Mr Alpheus Hayos. Tho money advancod by Mr Dennison had nothing to do with tho buying of sheep. About two months ago he bought a big lino of sheep (2115) from Mr Hayes and Mr T, C. Denniaon paid for thorn. The price was 14s 9d per head. The sheep wore handed over to Mr Dennison during tho month of June. When ho bought them from Mr Hayes ho said that Mr Dennis )n would finance tho transaction. Ho brought them down to bo killed. It was arranged that tho sheep should bo held in Mr Dennison 's name, and they wore entered in the Refrigerating Company's books in Mr Dennison's name. Some 1400 ware put to j grasa in Mr Johnson's paddock, Pukouri, and the remainder were killed. Mr Dennison paid all freezing charges. There was no money to come to him, Mr Dennison taking the whole transaction ovor at cost price. If tho sheep had turned out woll ho would have got something out of the transaction. Tho whole of tho sheep had been shipped to London, no had about L40 when he started business. Whatever he may have told tho N.Z.L. and M.A. Company at tho time ho moant to convoy the impression that ho would try and get a guaranteo for L150, part of which was owing to him. Tho meeting was then ordered to stand adjourned.

! A meeting of the creditors in tho estate of Patrick Koano was hold. Tlio following creditors woro represented : Messrs Fleming and Hodley, L4 j H. B. Crawford, L4 103 6d ; N.Z. L. and MA. Co., L9 9s Gd. Mr Lee (Messrs Hislop and Creagh) appeared for bankrupt. The Assignee stated that the total liabilities were L290, and tho assets L38. Tho bankrupt stated that tho statement of assets included everything of which ho was possossod. Tho property on the Ardgowan, which was formerly the pro« pocty of SftndoramVs Trustees, -was bought by his wife. His wife paid for tho property, and he had spent no money of his own on tho land. It cost L120, and comprised 11| acres. His wifo built a housn on tho property and it was mortgaged to Mr Sumpter. He did not know whab it was mortgaged for, and the house cost L26 in town. He bought it at auction from Mr Sumpter. His wifo paid L13 and Mr Sumpter advanced the balance. Tho whole place was mortgaged for L160 now. Ho bought 230 bags from tho N.Z.L. and M.A. Co. and bartered some 60 of them for horse foed to Mr Sumptor. Ho fillod 45 with potatoes, and sonb them to Mr Atkinson nine months ago. He gave Mr Currio 60 in return for some ho owed Ourrio and there were 20 up at his wife's house. He received a L13 cheque from Mr Atkinson, and the cheque was paid to Mr Sumpter on aooount of the house. He had not paid tht r«nt wlurt tht poUton gww.

The fencing of the Corporation reserve coat a good deal of money— say L37. The wire nnd staples ho bought at Craig find l>o. h at a cost of L8 ; M'Oallum and Co. 'a account was worked off all but ] 5s. The deposit on the property was partly paid by h.B wife's brothers. He had lost five horses and eight cattle by death during tho last pightoon monthB. Ho hod some contractor s plant, but ho had sold it. He had borrowed dray« o f R odger Hnd Rooney and others. His debts had boon accumulating during the past four or five voavfl. Ho attributed his bankruptcy to bad dealing and losses. The bankrupt was, on the motion of Mr Hodloy, recommondod for his dtsoharge.