BANKRUPT PRINTER.

New Zealand Herald, Volume LII, Issue 15951, 23 June 1915, Page 4

BANKRUPT PRINTER.

An adjourned meeting of creditors in the bankrupt estate of James Patrick Wlielan, printer, of Albert Street, Auckland, was held yesterday afternoon. The Official assignee, Mr. W. 8. Fisher, said that tho amount owing to unsecured creditors was £405 16s, and other creditors were secured to the extent of £1339. The estimated value of the securities was £1425. The assets in the cstato were shown as being worth £216, made up of a nominal surplus, in tho hands of secured creditors, of £86; book debts, £100. estimated to realise £80; and stock-in-trade, £50. Regarding the free assets, the assigneo said that for some- reason, tho bankrupt had not put down his landlord as a creditor, though there was £70 owing as rent, and there was a bailiff in at the time of the bankruptcy. The rent would bo a first charge on the goods on the premises. On investigating, he had found things very complicated. He could assure tho meeting that there would be nothing coming to them. The rent claim would swallow the free assets, and the secured assets were covered by bills of sale. Tho creditors expressed a wish to facilitate the bankrupt's discharge. Mr. A. J Finch moved that two of the creditors. Messrs. Wright and Abel, should be associated" with the official assignee regarding the secured creditors. Mr. J. Wright moved that the official assignee should bo requested to facilitate the bankrupt obtaining his discharge. Both motions were carried.