MEETING OF CREDITORS

New Zealand Times, Volume LI, Issue 12008, 10 December 1924, Page 3

MEETING OF CREDITORS

FAILURE OF A WAIKANAE BUSINESS. BANKRUPT COMMENDED. - A meeting of creditors in the bankrupt estate of John Thompson, a tobacconist and billiard-room proprietor of Waikahae, .was called for yesterday, but there was not a quorum of creditors. The' .Official Assignee. Mr S. Tansley, presided,, and the bankrupt was represented..- by C. A. L. Treadwill. Unsecured creditors were, shown at .£l6l 15s 6d; secured creditors at £1258 ss; less estimated value of securities, £1250. £S 6atotal; debts, £l7O Os. 6d. Assets shown were: Stock-in-trade, £ls; book debts, £l3B 2s 6d, estimated to produce £80; cash in hand, £7; furniture,- £SO; property, £l3O. | Surplus, £lll 19s 6d. The principal unsecured creditors were H. E., Partridge and Co., £74; Barraud and Abraham,- £18; A. J. .Johnston, £24; Early Bros., £l3. .In his -signed statement, the bankrupt gave as the immediate cause for his filling the . pressure brought to bear by some of the - secured creditors, -Bankrupt was a Carried man with seven children. The Official Assignee said that indications pointed td’the estate paying a very good dividend, perhaps twenty shillings in the pound. The bankrupt, he added, was to be commended for his action in refraining from buying stock so as to not "go further into'the mire. It was finally agreed to put up the Waikanao business for: auction, and the .meeting was adjourned sine die.