MEETING OF CREDITORS.

Otago Daily Times, Issue 10171, 4 October 1894, Page 4

MEETING OF CREDITORS.

Ke William Gregg. , A special meeting of creditors in the estate of William Gregg, coffee and spice- merchant, Dunedin, was held at the official assignee's office yesterday afternoon. Sixteen creditors were present or represented. Mr Sim appeared ea behalf of the bankrupt. .

The Assignee said he had to report that.since the last meeting the negotiations which were "on " between the supervisors and Mr Gregg had come to naught, and consequently the supervisors had had to take the estate into their hands for disposal to the best possible advantage. ■' They were advertising now for tenders for the coffeegrinding and ppice plant in P^attray street, together with the tinsmith's plant, and also for the starch factory at Pelichet Bay. The stock and implements at the chicory farm were to be sold with the freeholds of the two farms, which were being offered under instructions from the Union Bank; and the supervisors had arranged also to have in a fortnight's time a big sale of the whole of the stack on hand. The book debts were in process of being collected, and so soon aa there was a sufficiency in hand an interim dividend would be declared with the least possible delay. The special object of that meeting, the Assignee explained, was to confirm the resolution previously passed to grant to the bankrupt his furniture. ■ '-

The resolution was confirmed unanimously. The Assignee remarked that the allowance of £6 a week to the bankrupt for his assistance in carrying on the estate had been granted until further notice, and he thought the creditors should now say whether, and for how long, the allowance was to be continued.

Mr John Mitchell thought the allowance should, be continued till the tenders for the estate were received, and moved accordingly.

The Assignee said the tenders were returnable on the 15th, and he would call a meeting for that day. • . .■ • • - ■ .■-■.■,'■...

It was agreed that the allowance be continued as at present until the next meeting of creditors.

The Assignee pointed out that nothing had as yet been decided as to the remuneration to the supervisors. ■ '« .

Mr T. K. Harty moved that the remuneration be that fixed by the act. = Mr Mitchell asked how much that would come to.

Mr Harty said it would not be £50 if the estate realised £3500. ■:■.-., . .■■■-.. : Mr G. Esther seconded the motion, which was Oirried unanimously. ' ; The meeting then adjourned. ';