BANKRUPTCY.

New Zealand Herald, Volume XXXIV, Issue 10413, 10 April 1897, Page 3

BANKRUPTCY.

MEETINGS OF CREDITORS. A. meeting of creditors in the estate o\ Jnhu-oii Brothers, restauraut keepers, oi Waihi, held at; the Official Assignee's office, yesterday, wa« attended by seven creditors. Air. H. Campbell was present on behalf oi bankrupts. The Assignee read debtor'* (Freeman Johnson) sworn statement, in which he stated that with his brother he hud commenced business with a capital of £75 each. They partly furnished the restaurant out of the £130, and got credit for th« balance-about £100. They associated with others in pegging out the Cheviot and luvestmeat special claims, at a cost of £20 each. This was paid for out of the business. Both claims have since lapsed. Particulars wer< given re the bankrupts' dealings with tin D.S. JCompany, Aueklan , from whom the; purchased two sections for £80 and £210 respectively. They first nave a promissory note, and subsequently promised to give a cheque for £40 iu October, and promissorj note for £40, maturing in December They failed to meet the cheque, and nothing further had been done re purchasing sections, Failure was attributed to want of business experience and being badly u<l vised by an employee. On March 26 a lire was dis» covered on their premise.-!, and the ledprer, cash book, invoices, and sundry papers destroyed. Their liability was £702 19s 3d. The assets were stated to be £679, deficiency £23 19a 3d. Bankrupt was questioned by creditors as to details of the business, While the meeting was being held the D.S. Companj forwarded a letter in which they stated thai they had rescinded the contract entered into with bankrupts and entered into possession of the property, but for the benefit of creditors they were willing to place them on the same footing as that occupied by -Messsrs. Johnson Brothers on condition chat the writers were paid the amount due for property, with rent £31S 13 Id in all. After discusuion, it was decided, on tin motion of Mr. Needham, seconded by Mr. Reid, "That a committee consisting ol Messrs. Entrican and Geddis be appointed t< act with the Official Assignee regarding tin property bought from the Direct Supply Com pany, with power to make such arrangements as they think proper." At the first meeting of creditors in the estate of J. E. Dalton, assistant surveyor, of Auckland, eleven creditors were present. Mr. Stewart wai for bankrupt. The Assignee explained that debtor had failed to come forward to make hie sworn statement, and that all the speaker could say was that the schedules showed liabilities to be £526 7s 6d, and assets £9810s. The Assignee suggested that in view of a possible necessity for a public examination it is desirable to make a searching investigation into the bankrupt's affairs, and for that purpose he recommended an adjournment. The meeting was then adjourned until April 22. The first meeting of creditors in the estate of I , !. J. Dormer, storekeeper, Kaihu, was held at the Official Assignee's office yesterday, and was attended by eight creditors. Mr. Buddie appsared on behalf of bankrupt. The following telegram was received trom Messrs. Mitchelson (one of the creditors] representative: "Have taken stock ana locked up store. Letter by mail." It wa decided that Messrs. Nathan and Tewsley be an advisory committee to act with the Official Assignee in all matters connected with the estate. It was decided to obtain a report from Messrs, Mitchelson as to the value of tbe book debts.