BANKRUPTCY.

New Zealand Herald, Volume XXIX, Issue 8986, 17 September 1892, Page 3

BANKRUPTCY.

1 MEETINGS OF CREDITORS. James Curtis Skeen.— A meeting of creditors in the estate of James Curtis Skeen, adjourned from the previous day, when ib lapsed for want of attendance, was to have been held yesterday, afe the Official Assignee's office, but ib again lapsed, no creditors being present. The bankruptcy will now take its usual course, and the Official Assignee wilr proceed to realise the ■estate.

Charles Cowan.—The creditors in the bankrupt estate of Charles Cowan, described as _ farmer at Whangarei, met at the Official Assignee's office yesterday. There were present :—The debtor and his solicitor (Mr. Stead man, of Whangarei), and the following creditors: Messrs. Gummer (E. Porter and Oo.), Cooke (New Zealand Bottling Company), Galbraith, Gorrie (A. Buckland and Sons), J. Abbott, and Mr. J. P. Campbell appeared for the firm of Cuthbortson and Walker, and for Mr. Galbraith. The debtor's sworn statement, already published, was read by the, Official Assignee. The liabilities were £572 7s 4d, but these included a promissory note given to one creditor for certain money, over and above a composition of 5s in the £ previously agreed upon. On this promissory note the creditor now claimed. He hoped, by the assistance of his friends, to be able to offer a composition of 5s in the £ if time was given. The Official Assignee said that of course he should reject the claim on the promissory note. The debtor had stated that his furniture, harness, etc., were valued at £92. He (the Official Assignee) had got Mr. Wakelin to make a valuation, and he reported that the furniture belonged to the debtor's wife, bub he valued the other assets—harness, carts, etc.— £75, and . this .Aflth the debtor's interest on the joint property, book debts, etc., would yield 12s in tho £ gross. The debtor was examined by Mr. Campbell. He said that on or about August 26tb Mr. Galbraith obtained judgment "against him for £24. At that time he had no horses of his own, although he was in possession of some belonging to his wife. He had three or four sometimes, but at that time he had only two belonging to his wife, one of his own mention" I in his list of assets, and one he was breaking in for Mr. Green way. He gave his wife one of the horses five years ago, and the other he sold to her throe months ago, for which he held a receipt. Ho owed the grocer £15, and bold his wife if she paid the account he would give her the horse. The date of the receipt was 16th July. Ib was a buggy horse, and before the sale he asked Mr.Carruth, solicitor, if ib was allowed to do so. Aboutthreemonthsagohe sold ahorsefor £25. less commission, for which ho received a promissory note, which he gave to Mr. Drutntnond, one of his creditors, as part payment of an account for £50, which he owed him. He could not tell whether it was this month or next the promissory note became due. He gave a mare to Mr. Cheeseman about two months ago for £15, to square an account for £14 due for labour, and Mr. Cheeseman gave him £1. He also sold a pony racing marc, Helena, to his brother-in-law, Allan O'Neill, for £18 in June last, and was paid in cash, which he spent. He had not sold any other horses within three or four months. He had a dray, brake, and plough. All except the brake were on his list of assets, and he had exchanged the brake about four months ago with Mr. Cheeseman for another at a difference of £8, which was taken off the account of £32 then due. The brake or buggy he got from Cheeseman was included in his assets. He had no cattle except two milking cows, one of which was his wife's, and his own cow was amongst his assets. What cattle he had were sold under a bill of sale about January last by Mr. Greenway, to whom he owed £1200. They squared up that time, and Green way then paid him £208, of which £164 was cash, and the balance was paid on his account. Mr. Steadman made an explanation in regard to the property held by the brother of the debtor and himself, and said the value of the property, would depend on how it was treated. The proparty was owned by the debtor and his brother, and the former had only an undivided interest. If there was a forced sale it may result in the property falling into the hands of the' mortgagee. Mr. Abbott said the proper course would be for the Official Assignee to inquire into the value of this property with regard to which at present they had only ex parte statements, and when he brought up his report the creditors would be able to judge whether or not the offer of £is in the £ should be accepted. One of the creditors suggested that instead of a composition, the debtor or his friends should make an offer for the estate. Mr. Abbott moved that the meeting be adjourned for a fortnight, tho Official Assignee in the interim to institute inquiries as to the value of the property and report to the adjourned meeting, and that in the meantime the debtor formulato his offer. The motion was seconded by Mr. Gorrie and carried. Edward Vincent Fuluames.—A meeting of creditors in the bankrupt estate of Edward Vincent Fulljames, a grocer, was held yesterday afternoon in the Official Assignee's office. Present: The debtor and h's solicitor (Mr. Tylden), and tho following creditors—Messrs. Morrin (Aulsebrooke and Co.), Spinley (Tucker and Pitt), Johnston, Keesing (A. H. Nathan and Co.), and McDonald (A. Aitken). The debtor's sworn statement (already published) was read. He carried on business as a grocer at Devonport, starting without capital, and he got behind in his payments. His liabilities were £157 15s 7d, and his assets were estimated at £60 7s 4d, and he could only give up what he had for the benefit of his creditors. He had a wife and nine children, none of the lattor being able to earn anything, the eldest being only 16 years of ago. Tho debtor was not questioned, and the creditors generally were of opinion that it was a case of hardship, and that the debtor was not guilty of any wrong, and they were satisfied that his statement was a frank one. It was left to the Official Assignee, to realise the estate to the best a^dvntage.