THE INSOLVENCY OF SIR M. DAVIES.

New Zealand Herald, Volume XXXI, Issue 9495, 26 April 1894, Page 6

THE INSOLVENCY OF SIR M. DAVIES.

The schedule of Sir Matthew Henry Davies has been filed in the Insolvency Court, Melbourne. The causes of insolvency are stated to be the failure of various finanoial institutions in which he had invested large sums of money and was a shareholder, and calls made on him in the said financial institutions. The liabilities of the insolvent are stated to be £281,086 2s, and the assets £32,709 139 7d, leaving a deficiency of £248,376 8s sd. Debts owing on mortgage amount to £27,989 5s Bd, and those to other secured creditors to £253,096 16s 4d. There are no unsecured creditors. The estimated value of insolvent's real property is £21,525; of his personal property not held as security, £250; and of debts which he believes will be paid on demand, £10,934 13s 7d, of which £10,030 is held as security. The secured creditors The Freehold Investmentand Banking Company, £226,558 18s sd, balance of two calls, one of £10 per share and the other of £11 10a per share, on 10,000 shares held by the insolvent in the said company ; Bank of New South Wales, £27,989 5s Bd, money advanced on current account; Mercantile Bank, £15,284 7s 3d, balance of two culls, one of £1 per share and the other of £2 per share, on 5000 shares held by the insolvent in the bank ; Victorian Mortgage and Deposit Bunk, £8297 5s 2d, call of 7s 6d per share on 20,000 shares in the bank held by insolvent; Victoria Land Company, £541 7s 9d, two calls, one of 7s per share and the other of 9s per share, on 1000 shares in the company held by insolvent; Shackell, White, and Co., £2269 3s, call of 10s per share on 4000 shares in the company, held by insolvent; Prahran Masonic Hall Company, £42 17s 6d, calls ; Arthur John Fuller, £102 17s 3d part due for salary, part for money lent, and part for work and labour re the Mercantile Bank prosecutions.

The following is a lint of insolvent's losses and expenses for two years prior to sequestration On freehold properties — Bayswater property, £16,000; house, Lansell Road, Toorak, £2000 ; Boxley Grange Farm, £707; Malvern property, £6569 Is ; property, King-street, Melbourne, £2500; Mentone property, £2000 ; Bayswater station Property, £71 10s6d. By bad debts—Union roperty, Tramway, and Investment Co., £5000; Australian Mortgage, Finance, and Agency Co., £5000; F. J. Sincock, £231; J. S. Hobday, £225; S. F. Reynolds, £64 12s 6d ; Victorian Investment and Guarantee Co., £500; W. R. Elvery, £50 ; Gascoigne Investment Co., £5000; Victorian Finance, Guarantee, and Share Co., £3000; Victorian Trust and Agency Co., £1500; Davies and Price, £8993; C. S. Price, £2993 ; James Watson, £1461; H. G. Callaway, £250; Royal Investment, and Banking Co., £5000. On shares in companies— Mortgage Bank of Australia, £15,000 ; Colonial Investment and Agency Company, £2000; Shackell, White, and Co., £100. Calls on shares and interest thereon— kell, White, and Co., £2269 ; Freehold Investment and Banking Company, £228,408 18s sd; Mercantile Bank, £15,784; Victorian Mortgage and Deposit Bank, £8297 ; Victorian Land Company, £541; Prahran Masonic Hall Company, £42. On guarantees —English and Australian Mortgage Bank, £2746; Mercantile Bank, £980 6s. Total losses and expenses for two years prior to sequestration, £345,289 9s 6d. Insolvent sots down his losses between January 1, 1892, and 31st March, 1892, as £317,711 17s 3d ; making a total loss since the Ist January, 1892, of £663,001 6s 9d. The following are the principal debts owing to insolvent: —Gascoigue Investment Company, £30,297 Union Property, Tramway, and Investment Company, £10,000 Australasian M ortgage, Finance, and Agency Company, £10,000; Royal Investment and Banking Company, £6750.