MEETINGS.

New Zealand Mail, Issue 866, 5 October 1888, Page 29

MEETINGS.

MEETING OE CREDITORS.

BROWN AND RODGERS’ ESTATE. A meeting of creditors in the estate of Brown and Rodgers, builders, of Masterton, was held yesterday week. Mr Sellar, Deputy Official Assignee at Masterton, presided. Mr Jellicoe appeared for a number of Wellington creditors, and Mr Kirk for the bankrupts. There were also seven or eight creditors present. The Chairman explained that the object of the meeting was to lay a statement of the affairs of the bankrupts before the Wellington creditors. The bankrupts had not kept accounts until within three months of filing, and at the meetings in Masterton great dissatisfaction had been expressed at the credit allowed them. The Masterton assets had realised L2OO net, but those in connection with the contract in Wellington had not yet been disposed of. Mr Jellicoe, as representing Booth and Co., moved, “ That in the opinion of this meeting the bankruptcy proceedings will bo more advantageously conducted in the Superior Court of Bankruptcy liolden in Wellington.” This was seconded by Mr T. Ballinger and carried. It was also resolved, on the motion of Mr Jellicoe, that the bankrupts should be publicly examined, and that no allowance should be made to them.

Mr Alexander McDougall was examined by Mr Jellicoe as to the bankrupts’ dealings with him. He declined to say whether ho had any arrangement with the Bank of New South Wales in connection with the building of houses, the contract for which he let to Brown and Rodgers, or whether the bank placed a sum of money to his credit to enable the houses to be built. The contract price was L 4550, and Messrs Graham and Wilson, of Masterton, were the sureties. He was led by Mr Fannin, the architect, to believe that the contractors were respectable people. He had to pay the contractors, but he declined to say whether he had to pay out. of any particular fund. He declined to say whether he paid out of money appropriated by the Bank of New South Wales for the purpose. He declined to say whether or not the bank found the money. -Mr George Fannin, architect, was also examined, and stated that he was introduced to Mr McDougall by Mr Perston, manager of the Bank of New South Wales, in September, 1887, and engaged as architect for Mr McDougall, who was about to build six houses. Subsequently, he found that the bank was finding the money ; the bank would not pay McDougall’s cheques without witness’ certificate. Witness did not consult Mr Perston about the tenders, or in any way in connection with the matter. Was not aware that Mr McDougall ever asked : him as to the solvency of the bankrupts. The bankrupts deposited a marked cheque for £260 with their first tender. He did not know that that cheque was not intended to be cashed. Never heard Mr Perston . say that the bank had been “ had ” by Mr McDougall, and had taken over the work ; and he did not know that the bank was making the best of it by employing men who owed it money. Mr Fannin was examined at some length in connection with the contract* and stated in the course of his evidence that he found a-good deal of difficulty in dealing with the bankrupts and Mr McDougall. He wished to publicly deny that he had been in partnership with the bankrupts in the job. Progress payments were made in excess to the amount of L 770. On the 6th August Mr McDougall obtained from him a certificate for L 550, which embraced part of the excess. Mr McDougall told him Messrs Dawson wanted the money to secure them, and as Mr McDougall was the employer, he gave the certificate. Had he known the position of the bankrupts he would not have given it. Alexander Malcolm Brown, one of the bankrupts, was then examined, and deposed that the cheque for L2OO in July was partly in excess. He came to Wellington at the end of July, and Mr McDougall gave him an advance of LBO to enable him to pay wages. With part of that he paid a Masonic lodge something he owed them—not money he had appropriated. His object in getting the LBO was not to pay the lodge before going through the Court. It was about the 3rd of August they found they could not canyon. It was about L 9 or LlO he paid back to the Masonic Lodge for the money he had borrowed. Mr Jellicoe: Borlowed? Jn subscriptions? The bankrupt? Yes. V, Mr Jellicoe said it would save time if Mr Irons (representing Dawson and Co.) paid in that cheque for L 550. (Laughter). Mr Irons said he hadn’t got it. Mr P. Hutson moved that the Official Assignee take steps to have Mr Alexander McDougall publicly examined before the Judge. Carried. This concluded the meeting.