MEETINGS OF CREDITORS.

New Zealand Mail, Issue 421, 6 March 1880, Page 12

MEETINGS OF CREDITORS.

A meeting of the creditors of Donald Chisholm was held at the Supreme Court on Feb. 26 morning. The bankrupt was represented by Mr. Lqwis (of the firm of Buber, Lewis, and Gully), and about a dozen creditors were present. The liabilities were set down at £2879 2s. 6d., of which £834 Is. was due to Messrs. Johnston and Co., and was secured on mortgage. Among the liabilities are Messrs. Zohrab, Newman and Co., £133 Os. 2d ; J. and T. Meek, £9O Is. 2d.; W. and G. Turnbull and Co , £260 14s. 6d.; Levin and Co., £79 3s. 2d.; McLeod 8r03., Dunedin, £69 16s. lOd.; Colonial Bank, £126 9s. 6d. ; National Bank, £95 11s. Bd. ; Joseph Nathan and Co., £436 13s. 10d.; Bank of Australasia, £416 Bs. 5d.; Plimmer, Reeves, and Co., £3l Bs. 9d. The following were set down as assets : Stock, £620 ; equity of redemption on properties mortgaged to Messrs. Johnston and Co., £9OO ; good debts, £756 ; total, £2276 10s. 9d. Mr. Joseph Nathan was voted to the chair, and a considerable amount of discussion took place on the question of the election of trustees. It was proposed by Mr. Brown, and seconded by Mr. Liddle—■“ That Messrs. J. Nathan and Liddle be appointed trustees.” Proposed by Mr. Levy and seconded by Mr. Zohrab —•“ That Messrs. Nathan and Zohrab be appointed trustees.” After some discussion the amendment was carried.

Mr. Nathan then made a long statement, explaining the circumstances under which the mortgage was given to Messrs. Johnston and Co. A discussion then ensued on the taking of legal advice. Mr. Liddle moved and Mr. Levy seconded—- “ That if, after taking the best legal advice, the trustees have reason to believe they are likely to succeed in setting aside the mortgage given by Mr. Chisholm to Miessrs. Johnston and Co', they are hereby authorised to take the necessary steps in the Supreme Court for that purpose.” The motion was put, and carried unanimonsly. The Chairman remarked that he had heard outside that the bankrupt had paid Messrs. Jacob Joseph and Co. in full. He would like to know if this were so. The bankrupt replied in the affirmative, but said that when he found that he had to call his creditors together, he told Mr. Jo&eph how he was situated, and. that gentleman at once said he did not want to take an unfair advantage of the other creditors, and returned him the money paid. The Chairman remarked that it would be a good thing if other firms would act iu the same liberal spirit. The meeting then terminated.

A meeting of creditors in the estate of William Hester, farmer, at Masterton, was convened for Feb, 26, and also of Joseph Baigent, storekeeper, of Wairarapa. Both meetings lapsed for want of a quorum. A first meeting of creditors in the est»te of Joseph Baigent, of Woodside, storekeeper, was held, at the Supreme Court House, at noon on Feb. 27. The assets, consisting of a section of land, two horses, and book debts, are set down at £l5B 13s. 10d., and the liabilities at £147 18s. 7d. Mr. S. Haigh was elected trustee. ... An adjourned first meeting in the estate of William Hester, of the Opaki, near Masterton, farmer, was held, at the Supreme Court House, on Feb. 27 ; Mr. J. W. Stevenßon occupied the chair. The assets were stated to amount to Ll9lß 55., and were represented by freehold and leasehold land, live stock, crops, and farm implements. The liabilities amounted to L 1250 153. sd. Mr. F. W. Hales, of Masterton, one of the principal creditors, was appointed trustee. A meeting of creditors of Mr. W. Jame 3, cabinetmaker, was h- Id at his warehouse, Lambton-quay, on Friday, Feb. 27. There was a large attendance, Mr. J. S. M. Thompson being in the chair. Messrs. Thompson and J. Smith, trustees, brought up a report, which showed that there was every probabi ity of the anticipations of a large surplus being realised. As yet only 2s. 6d. in the pound had been paid, and one of the objects of the meeting was to consider the best means of paying the balance. |lt was proposed that a portion of the property should be sold or mortgaged, but the question was left to the trustees and a committee which wa3 appointed to assist them. The meeting was adjourned to the 15th proximo. . . L , , A meeting of the creditors m the estate of J. L. F. Ward was held in the Supreme Court on Tuesday afternoon, for the purpose of considering the question of accepting a deed of assignment from the bankrupt, whose liabilities were set down at £277 4s. 3d., and assets £l4O. On the motion of Mr. Nelson, seconded by Mr Love, Mr. Baker (proxy for Dr. Bradford) took the chair. Mr. Stafford represented the

bankrupt, and stated that the deed made over the property to two of the creditors, viz., Messrs. Logan and Gear, trustees for the rest, of the creditors, and it undertook to pay the debts in full in six months—the trustees to hold the effects for that time. There was a promise of money comiDg out from the bankrupt’s friends before the end of the six months, and the creditors would then be paid in full. He (Mr. Stafford) had no doubt for bis own part that that money would come. Of course if it did not the effects would have to be sold. The chairman moved that the deed be assented to. The motion was agreed to unanimously (there being four creditors present or represented), and the proceedings terminated.

A meeting of creditors in the bankrupt estate of Francis Hartnett, of Wanganui, warder, was to have been held on E ebruary 27th, but lapsed through the non-attendance of creditors.

At a meeting of creditors in the estate of John Pegrum, held on February 27, to consider application for discharge, the trustee (Mr. Liddle) in the chair, the following resolution was proposed, seconded, and carried nem. con. :—“ That, in the opinion of this meeting, the statement of accounts now produced by Mr. Pegrum is not satisfactory, and the debtor not having produced account books (as ordered), which, in the opinion of the creditors, it has been proved he has kept, and from the generally unsatisfactory way the matters of the estate ha»e been explained, or attempted to be explained, the meeting refuse to recommend a discharge.” ___