BANKRUPTCY.

New Zealand Herald, Volume XLIV, Issue 13454, 5 April 1907, Page 7

BANKRUPTCY.

A meeting of creditors in the estate of John Porter, a labourer, residing in St. Paul-street, was held at the official as-

signee's office yesterday afternoon. The official assignee, Mr. F. Gerard, presided. the bankrupt in his filed statement showed that his total liabilities amounted to £77 14s lOd, and that as assets he had hook debt? estimated to produce £5, thus having a deficiency of £72 14s lOd. The bankrupt stated that while farming at Ararimn he took a contract for carting cream, ami lost heavily on it. His farm i'lso failed to pay, on account of his hav-

ing to spend so much time on the carting contract. Ultimately he sold his farm for £500, and after paying oft" the mortgage (£420), interest (£l2 10%), mid commission (£ls), he had £52 10s left, which he dei;,,Voted to paying off his creditors. He then shitted to Auckland, and after being out of work for four months seemed employment as a labourer under the City Council, at 7s a day. In reply to questions, the debtor stated that lie had a ■■■•, wife and two children, to whom he gave , all his earnings. He was unable to make ; "i offer at present. The meeting was ads journed sine die.