BANKRUPTCY.

New Zealand Herald, Volume XXXIII, Issue 10131, 14 May 1896, Page 3

BANKRUPTCY.

In a sworn statement made before the Official Assignee, William Nesbitt states that about sixteen months ago he landed at Greym6Uth from New South Wales, where he had been a mine manager, with £150. He eventually reached Mokohiuui, whore he entered into a contract for a stone drive, which resulted in a loss, and left him with his present liability of £40 17s 2d. He left there for Cfiromandel about three months ago, and has since been engaged in prospecting, but without success. He became security to the extent of £20 for three other men, and being summoned fox the amount and not having the means t* satisfy it, he filed. His liabilities amount t« £617s 2d, and he has no assets.

George Smart, in his sworn statement to the Official Assignee, states that he arrived in the colony from Scotland about nine months ago. Shortly after reaching Auckland he invested in sundry mining shares through Mr. D. McLeod, sharehroker. Amongst others, he bought 550 shares in the Bunker's Hill Company at 16s each, and paid £50 down on account, the transaction taking place on November 7. 1895. Shortly afterwards he was pressed for the balance, the price of the shares bavin? in the meantime dropped to Bs, and under the circumstances he could not see his way to complete the purchase, not having the means to do so. Ultimately Mr. McLeod sued him for £400 12s lOd, when it was agreed that he (McLeod) should take the shares over at7s6d each, and judgment was given for the balance and expenses, £233 5s 6d. Between the raising of the t-ction and the date of judgment Mrs. Smart made an offer of £120 out of her own means in settlement, but it was declined, and finally he was adjudicated a bankrupt on Mr. MoLend's petition. Beyond two life policies for £600 and accrued bonuses, extending over 20 years, he had nothing in the nature of assets, excepting 1000 shares in the Rangitira Gold Mining Company, Tallied at 120 16s Bil, and 200 in the Waiiii Smith Gold Mining Company, valued at, £1 13s 4d. His liabilities amounted to £242 8s 4d, the majority of which was owing to Mr. McLeod. Mrs. Smart was prepared to pay Mr. McLeod £150 cash and take over the settlement of the other debts.