A WELLINGTON BANKRUPTCY.

New Zealand Herald, Volume XXXI, Issue 9489, 19 April 1894, Page 5

A WELLINGTON BANKRUPTCY.

[St TIttJ43RAPH. —PRESS ASSOCIATION.] Wellington, Wednesday. At a meeting of the creditors of Jabez Mather, commission agent, formerly of Auckland, held this afternoon, the statement showed that the debtor had started business with £90, part of which sum was borrowed ; that he had lost his capital during the last twelve months, and had also incurred liabilities to the extent of £500. The Official Assignee said the debtor should have filed long before ho did. The estate Was in a most unsatisfactory condition. Addressing the debtor, the Official Assignee said : " The fact of the matter is, you have been simply living on your creditors. In the course of twelve months you have nob only eaten up all the profits, but also £500 belonging to your creditors. You fchon come here with a statement that £360 has been consumed in office expenses. Tho thing is utterly unjustified, and unless some better explanation can be afforded, I must bring the matter under the notice of the Judge. Such a thing is perfectly monstrous. It is just like your impudence to come here with such a statement." Later on the Official Assignee said the question would have to bo considered whether the debtor had not brought himself under the penal clauses of the Act. The debtor might not have incurred debts with intent to defraud, but still he had no right to incur expenses in the hope of better times. He was afraid it would go hard with tho debtor when he applied for his discharge. Tho realisation of the estate was lett in the hands of the Official Assignee.