ALFRED CROSSEY'S BANKRUPTCY.

New Zealand Times, Volume LXIX, Issue 3676, 28 February 1899, Page 7

ALFRED CROSSEY'S BANKRUPTCY.

; (A : The statement of [Ajfrfi.di, Grossey,., of. [Wellington. hotelkeeper, a bankrupt, tets forth .that .he had been in business as a hotelkeeper - fpr- four , years, ■ . .He took over the Rarifurly (then the Starl Hotel in March, 1897.' He then had about £6OO cash.", Ho paid McDonald, the former licensee,;'£4B4..(for, the'goodwill and.; furniture, ',.an(l, ,th,e.n, 'had_ -the ; hotel [i.renoyated .....and,- newly ,furnished., throughout, '■ jW’hich About.". £1800". For the last,-twelve moU)tlis„-Pwing' ; to, police' ‘ prosecutions, - the -trade. ,of the, hotel had fallen away a good deal. Not so much,the bar .trade r as boarders. People would not stop kt the hotel for fear of being hroughtr-up as witnesses. The horise- had fbeeri 'extremely expensive to him : rohtt ;; -G2o'los a ■ v/eCk;, wages, from. i£l 0 1 to £l2, a wtSSk. had ’also lost' iai-goF silmi”in’Booths', -particularly at""the"races: To -this- cause--and the ainount 'of money spent on, the hotel he attributed his present position.. Summonses ; had been issued against him, and. he had made, strenuous "efforts to fend, a purchaser at a sum sufficient to pay his debts. He succeeded in obtaining a purchaser, but owing to two in- three creditors proceeding on their Judgments he had no recourse but to Seek the protection of the Court. A schedule attached showed Deb tors— Unsecured creditors, £1576 14s od; secured creditors, £3591 IBs lid; estimated value of securities. £1090; surplus to contra, £2501 18s lid. Total debts, £4078. Credit—Cash in hand, £1 7s Id; value, of xtn expired term of license, £ls. Total, £l6 7s Id. Deficiency, £4062 6s 3d. The secured creditors are:- —Allan Maguire; mortgage over furniture, etc., £1000; .stock seized for Tent, £4O (for a debt totalling £2766 18s lid) ; Walter Smart, horse Guardsman, £2O, mare Lady Agnes, £3O (for a debt.of £102); ‘T. and W. Young and Divan Brothers are classed -amongst the' secured creditors as holding as'- security “ second mortgage over furniture, and mortgage over lease of hotel” for sums amounting -respectively to' £-543 Is 3d and £IBO, but the estimated value of security is set down as nil. The principal unsecured- creditors in ’ the estate 'are : W. B. Allen, £lO ss: Wellington Loan Company, £75; ’-Baker -Brothers, £123 ; Jenkins and -Mack,- £ls 3s; . B. Holloway, £3B; .Kirkcaldie arid 1 Stains'; £10*; A; Rorey.’ £15,T.. Pophara, £l4 17a '6d ; W. : JJegirihotham, £10.15s : Jupp’s Band, £l4; Cunningham. £lO 4s; Thos. [ Carmichael, £ls: “ N.Z. Times ” Company, £l3 10s; Wbllerman and C 0.,. £73; : A. .8., Kernot,; £23 12s Id; W. Strachan, Limited, £120; Stew.ailL-apcL, Co.j,, £3O;. g.- McFarland; i£22 15s 9d: Wardeil Brothers, £l3 4s';’ l [Preston and Co.; £2O 13s 6d; C. W. (Brodie, £200; Zohrab and Co., £2B; (Blundell Brothers, £2O 7s 6d; T. G. Macarthy, £26 ; J. Ames, £2O ; National Bank of New Zealand (secured by guarantee), £417. Grand total of unsecured creditors, £1576 14s sd.