THE COURTS

New Zealand Times, Volume LIV, Issue 9868, 27 March 1893, Page 4

THE COURTS

SUPREME COURT—CIVIL SESSIONS. Saturday, MtncH2s. (ttffnrn HJn Hr.nor the Chief .fueller.) Colonial Bank v. T K. Macdonald and Wife (Fuancrm R. Macdonald). Mr KdwarH* (inatruoted by Mr Chapman) for the plaintiff bank, Ur Geo. Hutchison for Mr T. K. Macdonald, and Mr Jellicoo for Mrs Macdonald.

The hearing w as oontinaod at 10 a.m. Oswald Stephen Watkins, accountant in the Colonial Bank, recalled, produced accounts, made up to the previous day, showing the receipts and disbursements on account of the properties mortgaged by Mrs Macdonald to the bank. They showed a deficiency of £1784 17a 9d, inclusive of at the rata of 7 oar cent, from the date of sale on the 20th January. Cross-examined by Mr Jelllooe ; The bank kept a property register showing the value of the real estate aa ets, but he had not the book in Court. A statement of the assets, Jfcc., of the bank was sent to the head office every half year to assist In the compilation of the balance-sheet. The manager of the branch did not prepare this (statement by guess work. Samuel Carroll, Und and estate agent, deponed that in hia opinion the realisable value of the loverlocby House property wan about £3250. To making bis valuation be took into account the value of the approach by **lgbt of way from Ingestro Htreet, and he did not Include the tennis court. The Church street leasehold, which he would term a npeculatlvo property, was worth about £IOO. Martin Chapman, barrister and solicitor, deposed that hia firm wore solicitors for the bank, and had conduct of the proceedings in connection with tho claim against Mrs Macdonald. Ho took very full notes of the examination of both defendants by the I'ffioial Assignee. (Notes produced and pat in evidence.) Obey correctly represented the evidence which was taken. Prior to the mortgaged prooerky being pat up to sale he sent Mr Jolliooe (ae Mrs Macdonald's solicitor) a copy of tho conditions of sale. The conditions were returned about a fortnight later without any •Iteration. An accompanying letter stated that Mr client; saw no objection to them. Subsequently an attempt was made to n.’tch op tho difficulty about the tennis croonri* He found there was no title to the turn's £ round or right of way. p*er» w»s *' i,j,L d lease of them to Mrs VJaodonah*, •u ft* K ievcr been assigned to the bank •Ju *u * N bor securities. Tho rent in with the ov *j,j g | e:l80 was in arrear, respect of * threatened to. resume and Mr rllmrtK property. Witness saw possession of the rom if>ed to relinquish Mr PJiromer, who 4 yf9 of ron fc with costs possession if the arro t 6 mo roiog of the sale were made up. On tb 0(J Ir Jelliooe a (20lh January) ho hao* ho desired draft letter (produced) a. firm as tho him tn write anil eeoil to wu , rtad t„ be a bank’s solicitor*. It purpi that formsl agreement by Mrs M. i<jbto{ way the lease of teonis oonrt and i t [, a should bo cat up for eelo along n( .i n the freehold, Mro Macdonald undertake ed to event of tho new lease being gran T 4 j,* revive «o claim or objection unde. original lease. Nothing came of thie . gestiou. Tne agreement to let Inverloo House to Mrs Moore at £l5O per annum wu never executed. The wltnesi was also examined with regard to the proceedings connected with the putting up of tho mort»» gaged properties. At 1 pm the Court ftdjoarned until 10 o'clock this morning.