BANKRUPTCY.

New Zealand Mail, Issue 1200, 1 March 1895, Page 28

BANKRUPTCY.

A meeting of the creditors in the bankrupt estate of Frederick Butler, painter, Wellington, was held on Feb. 20, Mr Henry Gill, one of the creditors, presiding in the absence of the Official Assignee. Mr Poynton appeared for the debtor, who, in a written statement, accounted for his bankruptcy by the fact of his having lost money on contracts, and by being obliged to retain the lease of some premises. He had no offer to make to the creditors. He obtained goods from Mr Winder about three weeks previous to filing. He intended to pay for them, but being pressed he had to use the money in filing. It was agreed to hand the debtor back his furniture, and Mr Geo. Winder's offer of .£ls for the stock-in-trade was accepted. The meeting then adjourned sine die. An adjourned meeting of creditors in the estate of James Briggs, hotelkeeper, which was to have been held .on Monday, lapsed as there was only one creditor present. The, debtor, in answer to Mr Ashcroft, said that Castendyk and Focke took possession of the Albert Hotel under a bill-of-sale on the 29th of March of last year, and put in a man conjointly with himself as manager. They paid for everything. On the 13th of August he was reinstated by them as manager, and remained so until the 14th of January last, when he got notice to leave. He left the house a few days before he filed. He had no money now. His wife was dead, and he had a daughter dependent on him. The meeting was adjourned sine die. Joseph Burke, tobacconist, Willis street, was adjudged bankrupt on Tuesday upon his own petition. His unsecured liabilities are set down at .£lO4. lis, divided among 13 creditors, the largest claims being the following:—Ballantyne and Co., i 227 ; Jameson Bros, and Baker Bros., .£l3 each ; Flockton, £9; C. P. Skerrett, .£10; H. Fielder, £7; H. J. Rodgers, JSI 10s. In addition H. Fielder holds a security estimated to be worth «£l3 to cover a debt of £7 10s. The assets are stock-in-trade estimated to be worth .£2B 10s and £5 worth of furniture. A meeting of the creditors of Andrew Carnegie, cook, was to have been held on Wednesday, but none of the creditor* put in an appeal ance. The debtor and his solicitor (Mr J. W. Poynton) were present, and the Official Assignee took the opportunity to examine the former upon oath. Carnegie said he was a Maltese and could not write English; hence he had kept no books. He carried on business for five months, and paid his creditors something on account each month. He had to pay £'S a week as rent for the dining-room of the Western Hotel, and four servants 15s a week each and their keep. He had also to keep a cottage at 12s a week, as he had a wife and three children. His takings were from 15s to .£1 a day. His charges were 9d a meal to the boarders of the hotel, and Is a meal to the public. The Official Assignee said it was obvious the man could not carry on under such a high rent. It was really astounding that tradesmen were so easily disposed to give credit without assuring themselves that there was any reasonable chance of being repaid. This man obtained from one butcher .£BO worth of meat on credit, when the slightest investigation would have disclosed the fact that he was carrying on a losing business, and would not be able to pay his way. Continuing his evidence, Carnegie said he gave up the dining-room in December, 1893, and during the enauing 14 months he only had had aix months work. His furniture was only worth £Q or £7, and it was under a bailment to Mr Eller. The meeting o creditor wan ad« journed sine die.