CREDITORS' MEETING.

Otago Daily Times, Issue 8076, 11 January 1888, Page 4

CREDITORS' MEETING.

Rk Edv.uid Si'HKr

A meeting of creditors in the estato of Edward Sproy, hawker, of Duuedin, was fixed for yes-

terday, but lapsed for want of a quorum. Mr Catomoro appeared for tho bankrupt.

The statement of liabilities and assets was as follows:—

Liabilities: Bank of New South Wales, £90; I'roclor, Jones, and Co., £S0; Mollisou, Duthie, and Co., £00 ; Andrew Dreaver, £15; Rice Company, £9 10s; William Little, £8; Thompson Bros., £8; William M'Gonnochio, £7; W. Bull, .£C; William Robertson, £5; and a number of smaller accounts, making ;v total of £331 -Is. Assets: Stock-iu-trade, £10; furniture, £10; book debts, £50 (estimated to produce £12), Total, £32. Deficiency, £200 4s.

Tho Bankrupt, examined by the assignee, said he had beeu hawking for the past 10 or 12 years. About three years ago ho had an upset with his trap, by which he lost about £50. Ho had made bad debts to the extent of £50 during the last three years. The Bank of New South Wales held ptomissory notes for a considerable portion of tho £90 set down in tho statement. Ho gavo Proctors, Jones, and Co. £22, the proceeds of sale of a

trap, and a further sum of £12. This was to that firm and Mossrs Mollison, Duthie, and Co. one-fourth of their accounts; the balauco to be paid as he collected his debts and reduced bin stock. Ho lost money by the sale of some goods. Ho found himself in difficulties about 12 mouths ago. The Scandinavian Water Rane Company seized his goods tor an account for water, having got judgment in his absence. The trap at St. Bathans belonged to Mr Woods,

who lent it about 16 months ago in consideration of bankrupt staling goods for him at 17,'; per emit, commission instead of 2(1 pi r cent" The two horses belonged to people in the country. They were lent for a consideration.

Mr Woods oifered the sum of £6' for the book debts, which was accepted by tho assigiieo.

Tho Assignee) thought tho best plan would be to instruct the man in charge of tho slock to sell at once.