BANKRUPTCY COURT.

New Zealand Times, Volume LXVII, Issue 3436, 18 May 1898, Page 3

BANKRUPTCY COURT.

COMMENTS BY THE CHIEF JUSTICE, A sitting of the Bankruptcy Court was held at the Supreme Court yesterday morning, before the Chief Justice. The Official Assignee (Mr James Ashcroft) was in attendance. Several applications for certificates of discharge were dealt with. BE WILLIAM F. SMART, TEA DEALER. The bankrupt said that during the past six months ho had been labouring, but his earnings had not averaged more than 20s or 25s a week. Ha had a family of eight, Discharge granted. RE GEORGE COCHRANE, CHINA DEALER. Mr Young appeared for the bankrupt. The bankrupt said his wife was carrying on the business. He was working for her, but got no fixed wages. Discharge granted. EE LOUISA TIPPLER, GROCER. Mr Hislop appeared for the bankrupt. The bankrupt said she was living on her boy’s wages—l7s par week. She had no means beyond the furniture granted by her creditors. His Honor, in granting tho discharge, said it was a matter for the creditors. If the merchants chose to give her credit they could. EE GEORGE FREDERICK RICHARDSON, SURVEYOR. Dr Findlay appeared for the bankrupt, and Mr Campbell for Messrs Cummins a,nd Co., of Wanganui, to oppose the application for discharge. Dr Findlay said that the occasion far urgency which was pressed upon the Official Assignee on Monday no longer existed. If the bankrupt could have arranged with all his creditors to give an assurance so far as they could that Re would get his discharge, the discharge would have been of great value to him if he got it that (Tuesday) morning. He had, however, been unable to 4° I that owing to the opposition of one creditor at Wanganui. Counsel thought the matter had better stand over until His Honor had more time, as an examination of some length might be necessary, Mr Campbell consented. His Honor t Very well. BE SAMPSON WILLIAMS, BUILDER. Mr Gray appeared for the bankrupt. The bankrupt said he was working as a carpenter, though not regularly. His wages when in work were 12s a day. He had a family of five. His bankruptcy was caused by losses on contracts. Ha had some large contracts. On one he reckoned there was a loss of X 650. Mr Ashcroft said the bankrupt had not kept any books worthy of the name except a bank book. But the auditors appeared to be satisfied that he was an honest man. They bad passed a resolution in favour of his receiving hia discharge. A creditor for JJfIOO had expressed very strong feelings in his favour. Discharge granted. EE ANDREW D. SUTTIB, COMMISSION AGENT. Mr Wilford appeared for the bankrupt, and Mr Bolton on behalf of two creditors to oppose the application. Mr Bolton said tho grounds of the opposition were that the bankrupt had failed to keep any hooks, that he had been insolvent for a considerable period, and that he had made a preference in favour of one creditor. Mr Ashcroft said he had a deed iu his hands for the bankrupt’s interest in his mother’s estate in Australia, subject to his father’s life interest. It had been promised that the father would be over here to make a compromise with his son’s creditors. Tljlo bankrupt said his father was 70 odd years of ago, and had been in ill-health. Mr Wilford said this was the third time application had been made. The impres* sion conveyed to his mind on the last occasion was that if a transfer was executed of a beneficial interest in certain property in Australia there would be no further oppo*. sition. The transfer had since been executed. ' The Public Works Department had a first lieu on the property. Mr Bolton said h© was not present when the application was last made, having mistaken the date. The opposition of the creditors he represented was as strong now as ever it was. They did not attach, any value to the transfer. His Honor said he thought he had better adjourn the matter till the'next sittings. In the meantime counsel might come to some arrangement. EE BASIL E. S. STOCKKE, CLEKK. Mr Young said he appeared for Messrs Hannah and Co., Messrs Kirkcaldie and Stains and the Commercial Agency to oppose the application. They opposed it on the ground that the bankrupt was in his present position through extravagance. Some of the creditors carried a resolution recommending the bankrupt for hia discharge, but their debts altogether did not amount to more than £3l. The bankrupt said that from 1890 to 1894, when he incurred the debt due to Messrs Kirkcaldie and Stains, he was engaged In the General Assembly Xiibrary preparing the catalogue. His average earmngs were 10s a day. When he had completed the manuscript he supposed he would have the editing of it; but he was out of work for some 18 months. That was how he got behindhand. When he had been nearly a year out of work he borrowed £250. He applied part of the money to paying off debts that had accumulating during the previous year, and some £BO was paid in the way of instalments on some land at Otaki. His wife had an income of £l5O a year. He did not think he told a creditor he could not live on less than £6 a week. What he said was that another creditor

had estimated that his (bankrupt’s) expenses would not be unreasonable if they came to £7 a week. He did not think be could live on £4 a week; he might possibly live on £5. As counsel pointed out some men kept families on £2 10.5 and £3 a week. He bqli-jved that Chinamen lived on even less.

His Honor said the creditors who opposed the application were the very ones who should not do so. If tradesmen allowed men in the bankrupt’s position to get into debt for their wives' and children’s boots and shoes thoy deserved no sympathy. Mr Young said that in Mr Hannah’s account £3O was for rent.

Hia Honor (looking at the statement of affairs): That is so. Ten pounds is for boots and shoes. I think lb is very undesirable that shopkeepers should give credit for wives* and children’s boots and shoes without having somo better assurance of payment. The bankrupt was granted his discharge on condition of his giving judgment for a sum equal to 5s in the pound on the proved debts in his estate.

The Court was adjourned till the 20th June.