BANKRUPT'S AFFAIRS.

New Zealand Herald, Volume L, Issue 15269, 5 April 1913, Page 5

BANKRUPT'S AFFAIRS.

A SATISFACTORY SETTLEMENT. A well-attended meeting of creditors in, the bankrupt estate of Edwin George Parker, a fancy goods dealer, of Karangahape Road, was held in the office of the official assignee (Mr. W. S. Fisher) yesterday afternoon. Bankrupt's totcl debts amount to £878 13s Id, and he valued his assets at £873 0s 4d. The official assignee stated that the stock was being valued when a reasonable offer of settlement was made. Debtor's estimate of the value of the stock was very near that of the valuer. The offer was made by Mrs. Clarke, bankrupt's sister, and was for payment of 15s in the £1, on condition that the bankruptcy was annulled. * i Mr. L. Benjamin, representing P. Hay-; man and Company, proposed that Mrs. Clarke's offer be accepted, and that the costs and preferential claims in the estate, amounting to £59 Bs, be paid by the creditors. This amount would represent Is 3d in the pound, and the creditors could expect to receive 13s 9d in the pound. The motion was seconded by Mr. Brook, and carried. Mr. Anderson, representing Rawlinson and Ifwerson, proposed that the official assignee be recommended to facilitate the bankrupt's discharge. The creditors agreed unanimously. Mr. Stewart, of Sargopd, Son and Ewon, Ltd., eaid that this case was not a matter for any vindictiveness on the part of the creditors, but he trusted that it would be a warning to other young men, who might be likely to engage recklessly in businesses too big for them. .