GIVEN A CHANCE

New Zealand Times, Volume L, Issue 11660, 26 October 1923, Page 6

GIVEN A CHANCE

A BANKRUPT BUTCHER “I FOUGHT AWAY WHILE OTHERS MADE MONEY.' CREDITORS DECIDE TO WAIT. Presided over by Air S. Tansley, Official Assignee, the creditors of George Mill, of Kona Kay, butcher, who has filed his application in •nanhruptev. Tiet yesterday. Mr L. J. Manic appeared for Mr C. S. Clarke, second mortgagee, Mr D. Perry for Mrs Hill, and Air J. Scott represented Air McLean IT'lb. a secured creditor, Air J. F. R. Stevenson for AH F. Flipp, also a secured .creditor, Air H. von Haast for tiro petitioning creditor, the executrix of Mr R. G. Newell, and 1 Air C. Purdy for the Commissioner of Crown Lands. “He has not made any statement, nor has he filled in his assets,’’ said Mr Tansley when bankrupt put in his appearance, and Hill retired with his solicitor, Mr W. J. Organ, to make out a statement. His secured creditors totalled £IO3B, His Majesty the King £650, Tripe and Alaule £2lB, 1‘ Flipp £122, South Pacific Loan and Mortgage Co. £lO, J. AY. AlcLean Field £B, and unsecured creditors £IOO. A HARD LUCK STORY". Bankrupt, in his statement, said that ho had taken a contract for uhe Government to cut firewood in conjunction with three other men who had not proved suitable for the work, so after much expense and waste of time he had had to pay them out. After taking over he had had three horses killed, and sold out for £IOO, taking £l5O cash and £250 in bills, for Which he had received only £45. J. H. Clair, to whom lie had sold out could not be found, and the hills were still in the Bank of New Zealand. EIo then started a wood and coal Yard at 45, Sydney street, Petone. Having trouble to get wood he had taken another contract at the Summit. Here, also, ho had had bad luck, losing a horse and liayi ' one of his employees severely injure a hand. For this the insurance company would not lecognise his claim. The Government then stopped the contract, as he had not a signature to the contract. He had been injured twice which had laid Lim up, and had had more ill-luck when he bought the cutting rights at Mason’s gardens and paid £25 deposit, and was stopped from going on by the threat of legal proceedings. He had rot. received hack his £25 from the man who was alleged to have no right to grant him the cutting privileges. STARTED AS BUTCHER. He then had started a butchery business in Tinakori-road atid had to spend, a lot of money on the shop. Business was bad from the start and eventually he had to sell out at a loss. Has wife had been taken to the hospital at about this time, he had a child down with fever, and he himself broko m arm and was jumble to work for 4J months. “You’ve got your book-debts here as £26o,’’ said the official assignee. “How do you make that out? Did you keep any books?” Bankrupt: - No, I lost a lot of books ono time when 1 was moving. Mr Tansley: Then how do you know that there is £260 owing to you? Bankrupt: Because the bills are in the Bank of New Zealand, and have never been lifted. Air Tansley: Have you been in business since March last or contracted any debts ?—No. Mr Tansley: Have you always put all your earnings through the bank? — Yes. You paid everything out by cheque? —Yes. Where’s your old pass book?—Well, you see, I haven’t got it. I told you that I lost a lot of books. LAND AT RONA BAY. Mr von Haast: The land you have is in Rona Bay, albout 12 and onesixteenth of a perch?—Yes. - The first mortgage is under the Discharged Soldiers Settlement Act, for £6so?—Yes.

How many instalments on it are owing?—Four. Bankrupt stated that there was also a second mortgage. Clarke was not a relative of liis. There also was an interest in a collateral agreement by Mrs Hill to Baker and Baker to purchase some land. He had bought the butcher’s plant at an auction sale with money which he had received. He had given a bailment over this on December 3rd, 1022, to Mrs Hill because he could not get money on loan unless he got some security from Mrs Hill for the security which she gave Clarke in the collateral agreement. Air Maule: A roundabout way of doing tilings. Bankrupt stated that he had had to close the shops as he could not get a living, and had moved to 39, Sydney street, Petone It had been sold a week ago, and was valued at £175 originally. A creditor: The chattels were taken possession of ten days ago. The account sales are not yet to hand, but he believed that the proceeds would be only albout £lO. ONLY A CART. Air von Haast: What chattels were there that Were not in the South Pnoific security ?—Only the cart. The homo wasn’t mine, I borrowed it. as I never had enough money to buy it. Air Tanslev; Y"ou had lio free assets. Air von Haast: When did you become insolvent? —What’s “insolvent”? I don’t know; you see, I’ve had no education. Bankrupt stated that none of his creditors, save only one, had pressed him; lie wanted to thank them for the way they had behaved. He had taken steps to sell the business, and had received a wire from a land agent who had an offer of £I4OO. He had wanted to close, but in the meantime the buyer had withdrawn his offer. Then he had wanted liis creditors to stay their hands for one month. WANTED TO SETTLE. “I want everybody to bo paid in full.” said bankrupt. “I haven’t incurred any debts since. But a man won’t always have to work at this wage. There is a friend of mine trying to get me work up country now. I’m a hard worker, and it would bring in £6 10s per week. I’ve had a hard time, and been through the slump.” Air von Haast: Thep the whole position eotties to this—is Mrs Hill prepared to surrender that- property at the Bay? The wholo chance of the creditors getting anything, then, depends on this. Air Perry stated that the income from this property was about 30s per week. Naturally Airs Hill did not wish it to be sold. “Of course, the Official Assignee might have something to say as to the legality of it,” he added. Air Tansley: Oh, yes. If there is anything >n it we will certainly have a go for it. A PROPOSAL. Asked to make a proposal, bankrupt suggested that the property should retrain rented. Shortly he would he making good money—£6 or £7 per

week —and would pay off his debts gradually. Mr Tansley: What is this property worth?

A creditor: From £llsO to £I2OO, we estimate.

Bankrupt: That is, if there isn’t a forced sale. “I ask the creditors to wait,” he said. “I went away and fought, and these fellows stopped at home and made good money. I don’t want the property for myself, but for my kiddies.' I’ve got five young children, and I’m a good workman.” Mr Tansley: And you ask them to wait four years?—Yes. It seems a long time? —Well, there was a similar case in the papers the other day. ... 1 don’t want to handle the money until all the creditors are paid. Mr Tanslev: Well, it rests with the creditors. Would they wait the time or get 10s in the £1 now? Mr von Haast: My client would prefer the 10s, certainly. ASKING FOR TIME. IMr Organ made a plea for time for the bankrupt. The man had had hard luck, there was no doubt about that; and he had made an honest effort to pay his oreditons. Mr von Haast then moved that the Official Assignee should obtain legal advice as t 6 the legality of the bailment. Mr Stevenson stated that he represented the biggest unsecured creditor, who was quite willing to give the bankrupt time. He thought that Hill would pay off. Mr Scott: I know Hill, and found at tlie beginning of this year that lie was one of the best’muddlers in Wellington. But I also found that if he made a promise he kept it. To Mr Stevenson,, bankrupt replied that when slaughtering he had made £8 per week and sometimes as much as £lO per week. “NO MAN OF BUSINESS.” Mr Stevenson : I think that he’s an excellent slaughterman; but as a man of business lie’s an expert muddler. And that just about sums up the position. Baukrupt: Of course, there’s twenty years to pay off this £750. and four years to pay off the rest. (Laughter.) Mr Scott moved that the meeting should stand adjourned sine die. on condition that all rents from the Rona Bay proporty ©lionld be paid into the Official Assignee, that Hill should keep him notified of his employment and wages, and pay such sums as the Official Assignee should demand of him. Mr Stevenson seconded, and the motion was carried.