ALLOCATION OF MONEYS.

New Zealand Herald, Volume LXIII, Issue 19512, 16 December 1926, Page 16

ALLOCATION OF MONEYS.

PETITION TO THE COURT. NEW PROCEEDINGS ADVISED.. [BY TELEGRAPH', —OWN COIIKCSFCNKENT. ] HAMILTON, W«<WcUy. A petition for the allocation of certain moneys, the proceeds of the sale by the Waikg-to Associated Farmera, LtcL : (in liquidation), of products of the Texas Oil Company (Mr. A. L. Tompkins), was sought in the Hamilton Supreme Court to-clay. Mr. A. 11. Powell, who appeared for the Waikato Associated Farmers, Ltd., said the money was held in trust, but added that as most of the goods were bought by the Hamilton company the proceeds were not the property of the Texas Company. Several agency agreements had been operated; on between the parties, and it was admitted that about 20 per c&nfc. qf the goods were received on coniiignment, and that the proceeds of the sale of those goods belonged to the Texas Company. His Honor said he was .nQt satisfied that the proceedings were .in v ordsr. The amount claimed had not bfiten specified in the petition. Mr. Tompkins said the amount 'claimed was £1586 13s. After hearing evidence by „tho Auckland manager of the Texas Comp&ny regarding the conditions under >»hieh the Hamilton company was supplied with benzine and lubricants, the J!u%e said thai, on consideration h.e was unable &>. determine the question raised by the peti* tioner in the form in which it was pre-" sontc-d to the Court. The best thing would he for the Texas Company to take proceedings against the Waikato Associated Farmers for the recovery of the ] moneys in dispute. He would make an . order giving it this right and also giving!, the company leave to defend.