MEETING OF CREDITORS.

Otago Daily Times, Issue 13999, 4 September 1907, Page 7

MEETING OF CREDITORS.

• A meeting of creditors "in the bankrupt estite of James Hilton, brickleycr, was held yesterday afternoon. Mr '.C. C. Grahani (Official. Assigned) presided , , end there wore about asven creditors present. Mr W. I;, Mooro represented the bankrupt, who waa present in' person. • ' ■ The bankrupt's largest unsecured creditors were as follows:—Trustees Hilton and Miles'a eetale, 1% Hβ; George- Esther, 122; M'iFarlane and Watt (Dunedin), £20 17s'3d; Wag-hornls'ciilate,-flB 103;. Southland Saw-milling Company, £18; M. Stevenso.a (Dunedin), £12 7s' Cd; 0r M-arshall MacdoniiM, flO 10s; Eockyeido Brick Company, iio! Tho total amount owing to unsecured creditors, was £187' 63 ■ 2d. Bankrupt's assets (tools of, trade) totalled £5. ■ ; ' : . Bankrupt's filed staiement was as follows:

Some five years ago I entered into pattnorwitli » rna)i called Harry Miles, and we carried on business tcgother undor the' style of Hilton and Miles, ■■ contractors. This partnershfp was a. very unprofitable b.usiness fir rue. ; We'had to compromise with our creditors. Pr.rt of tho conipromiso consisted of .promissory notes .for-£SO, one of which I g»ye. I also was sued by the Rcckyside iJrick 'Company. w-ho r aid not join-in tho compromise;' The effect : of the partnership, .was to destroy my credit, and I coiild then no longer-take ori contracts. -The cqtaprbmise was mads about the end of 1902, f.oud since the'tt I have worked , only on , jobs or, on small cofltracts where labour only was: required.. .Tho result has been that I have eaihed' only wagesj and. as employment,' has not been regular on-account of bad Veatherand siokneEß, I- Jiavc not nuade more than £2 per week on an average. The property ivi'which I live is.leasohold, and' belohge to my wife, as also does the'furniture. ■ Both the •furniture, and tho leasehold were heavily mortgnrad. There has been'death and consifler l able.Bichiess in tho family. . The bulk of my debts are pvor three years old;-.■' While some of my creditors have shown mo every leniency, others havo prossjd me hard, in particular Mr Bateman, who issued a judgment surnmohe sganlsfi me, and I was' compolled to ftc." 'Mr J,; Gibson said that-bankrupt had,according to the : .statement, .purchosed gooda, from him when.ho was.ia.an absoliite .state! of bankruptcy. . ■ ...

.■Mr.-E. Ty Bftteman asked bankrupt , if h 9 had obtained his clciiranco last time he filed. ..Bankrupt: No, I. did■ iic-t.- , ■ .■••■■ , ,The Assignee:' How long ago, was"that?' Bankrupt,: It-was.in Timaru about'lo'ycara ago.' '.'.:•' '~.'.•

.The Aasigjico (after'(perusing a list of creditois) said there was only one creditor there' who canto within the scope.. of tho Ba7ikrupt«y Act. in regard 'to bankrupt,.{ail-! ing io get a' clearance when he -.laetSfiled. That was Mr George Esther, whoie. ; amount ■was £22. , : " . "■■

'-- : Bankrupt: He was quite aware'of.'ay' •position.' .. -. ' '.-. i". '.•'- '''■■'.

Mr J,- Gibson: The ,bankrupt has got materiajs from me to build a house, preseiried' that house to his wife without psiy.■inginie. , ■. ■-,■',. ....": ■ .Bankrupt:. I was.'not'a bankrupt 'at the time I got material from you, and' I did not use tho whole of tlio lime on that bouse.' ' "Sβ Gibson: 'You built a house witlx.your creditois' money and presented it to-'your wifo. ■'~■■■,■■.'■• , ' .- ;.'..' Hr Batsman ewd lio had given Wknapt time in , wliich 'to:pay, but.'he hid te whietle for- his money. .It; TiraSinot the amount, but tho principle of the m-atter. - Mr T. Smith sud he got judgment -against Hilton oome years ego, and ha<t never been paid yet, Mr'Hilton, ho. mentioned;, had 'Imndcd his wages to his wife, and she" had Put the money in the bunk. • •' ; Bankrupt said his wife had.never banked' ~a single penny that ho gave her. The'only' ■ monoy sho bankod. waa what she had borrowed to build the house.

Mr.'Smith said lie felt wry" strongly on the matter. Bankrupt coulrl have obtained -159 or- 163 pcf d*y..»t. ■Wβ-.trade, but. , instead asked his creditors to give him his'' discharge. Ho, for one, would oppose the bankrupt's (discharge. ;' ■: . .■-.■", • ■ Iniioply to a question from-lfr.Mo.Mo, bankrupt naid ho had built the house about three years,ago. ' , ' '„ "iti 'Smith said he Would like to jupt; what, amount, he had , paid' : awfiy; for labour on the building of the house. . Bankrupt saia hc'hadnottnngto ehow what was expended'on his wile's.house. '•■'• 'Mr Smith: Is if a fact that you wont to Messrs Webb and Allen, solicitors,- aud took up the land on which the house stands? Bankrupt: No, my wife took up the land,' and. it was .-taken up in her name. The Assignee- said bankrupt's book dis-' closed nothing previous to IW)4 "■" '• ' ' Bankrupt said thai after tho partnership was broken up he had not d.one ; any..contract :that had .cost £20.. Uβ bad'eriten,,] into no contracts worth-speaking of:since that time lLt- b ™*>,173-:oiie-day he 'might .make nothing the noxt day. ,He could" toll his ■creditor/, as .man'to men that'ho'had had Plenty io do with doctors', burial, and other «spe«nes. . He had not averaged more than £2 per -.week for the past five years. '• - ■; Bankrupt, further, etatod that ho had lost money on two or three contracts, ~-,'" Mr Bateman referred.to a contract that bankrupt had entered into m Princess street. «0 o*!ko*'<-- W °" ld COme ' U nbollt

Bankrupt: r'lost on that. • ; In reply io tlio Assignee the bankrupt said he gave l,, v .wif e a per fa* to keep the =«■ -wite Had borrowedito to bi ild the house. The house when completed would cost about £500 =~"■••■ ■ A Creditor ask(d what had become of the money mortgage on the"house/ Mr Smith said the,meeting was a very unsatisfaotey one, and he would movftllH bankrupt, be. brought beforo the -judge f ■ £%£%£"•:**»* ™-a^ . The Assignee: The'judge will tell y OU ' th at you can. get more cut of bankrupt through the assignee than through him ■ ■ Mr Moore,protested against the manner hi which questions wero being "flung" at banklurt. Crdilors would obtain more them":'. C ° t0 - emm> f° r

M'o Assignee said they could got Mrs Hilton a a m f. li " s of the Cl^ and they .could then obtain some information about tho house aud the money received-on mort-

. Bankrupt said b had-no offer to-make /In reply -to a question bankriiDt said'he had wipetT out a debt of Mr } Stevenson's bv 'Working for him -on a houso.. •■ • • ■■■ ' Jir Smith: Will you dp that -for me? . Bankrupt: Right you nrer ' Mr Wcods;. And for mo also? \V Bankrupt- If you give mo'time. . It was finally decided to adjourn the meeting to suoli jiii.o as Mrs'Hilton was able to attend,:k> that creditors:might■ obtain some Information as to house, etc