BANKRUPTCY CASES.

New Zealand Herald, Volume LI, Issue 15551, 7 March 1914, Page 5

BANKRUPTCY CASES.

SAWMILL HAND'S AFFAIRS.

A LARGE FAMILY.

A mketino of creditor? in the estate nf Thomas Clarke, sawmill hand, nf Onehimea, was railed for vesterda v at the office nt tin.' •■illi• ia 1 assignee 'Mi'. \V. S. Fisher), but none (if the creditors were present.

Mr. iSchnauer anpeared on l*>half of the bankrupt. Ihe schedule submitted by bankrupt st-...cd ihaf lie owed £113 15s lOd to unsecured creditors, while l.is assets were nil.

in a statement handed to the official assignee the bankrupt staled that he was a sav.mill hand, and had j«>st received employment. at a mill al out 20 lies from Rotorua at wag-s of J2 per dav. His earnus for the past year had been aU.ut £2 17s per week. lor the past J5 rrmm hs he had resided at ( tnehiinga, but pi ..r to that he had lived at '1 e Puke, and liis employment, had f. .r a time neeessit ni ed has living in the bush away fnaii his f'.nilv. Of his f,•111111.' of eight ihildren six were still living at home. The thr-e ild's.t were gills, and two of these were in employment and earning a little. The third was at home, and of the tlnee youngest children two were at sch' >1, whilst the th : rd was only four years old. His wife d'd a littl" dressmaking to help keep the hi i.v going. .She had recent'.;, bought furniture on the time payment svstetn. and was still paying for this furniture. Judgment had been given against him for debt, and the creditor had now threatened bankrupt with a judgment summons. and he was thus compelled to file. Bankrupt stated that his liabilities were mostlv lor household necessities. He attributed his indebtedness to sickness and expenses in the bringing up of a large familv. and also to the act that his alsenrr. in the bush had necessitated the keening of an extra, home.

Bankrupt, was closely questioned by the assignee, and in the course of his evidence stated that he lived for three years in To Puke, but as the place was too quiet for his wife and family they moved elsewhere, hence the necessity for keeping two homes.

Mr. Fisher commented on the fact that although bankrupt had heen getting steadily behind in his payments none of the elder members of his family had been sent to work until about a month ago. The. assignee then read a letter fiom the creditors at Te Puke,, who protested against the protection of the Bankruptcy Act being given to the bankrupt, who. they stated, was a good workman and had always been in steady employment. They asked that' an adjournment of the meeting should be granted so that bankrupt could be examined at Te Puke, where most of the creditors resided. In answer to Mr. Sehnauer bankrupt stated that his brother had advanced the money in connection with the filing of the bankruptcy petition. One of the largest creditors had expressed sympathy with bankrupt, and had told him he would not attend the meeting of creditors. At this stage the assignee adjourned the meeting to Te Puke. GUMBROKER'S FINANCES.

SLUMP IN THE MARKET.

The creditors in the estate of Harry Whistance, gumbroker, met yesterday afternoon. The official assignee, Mr. W. S. Fisher, presided over the meeting. The bankrupt, in his statement, said that for seven years after he came to New Zealand he was employed by Messrs. L. D. Nathan and Co. in various capacities, and for the last two years as assistant guml roker. After a time be became dissatisfied with the remuneration given for the work he was doing, and on bring offered a higher salary elsewhere he resigned. He then started to work for Messrs. _ Winterbourne and Co., as he believed. in April, 1913. He understood that his salary was to be. £250 per year. After ■ making himself known in the north he took premises in Auckland and started as a gumbroker. He understood that all purchases made by him would be carried out I by Messrs. Winterbourne and Co., but he i was specially requested by Messrs. Winter- | bourne's representative not to disclose his ; connection with the firm. Upon failure to . secure a sufficient quantity of gum upon i consignment Messrs. inter 1 ourne and I Co. advised him to purchase outright, and [ to enable him to do this they guaranteed . his overdraft in the bank up to £1000. j Shortly afterwards there was' a slump in i the gum market, and this caused him a : loss of from £500 to £600. The balance j of his liabilities was made up of the expenses of running the business for eight- { months- His liabilities, he stated, totalled £1157 17s and his assets £144 8s 3d, leaving a deficiency of £1013 8s 9d. The official assignee was instructed to apply to the Supreme Court- for power to insist upon the attendance of two members of the firm of Winterbourne and Co. to give evidence concerning their connection with the bankrupt. The meeting, after further discussion, adjourned until Tuesdav next.