MEETING OF CREDITORS

Otago Daily Times, Issue 14089, 18 December 1907, Page 7

MEETING OF CREDITORS

AX UNFORTUNATE CASE.

A luooliiig of creditors in the estate of Charles IMward Ericson, of Clyde, enginedriver, was held before the official assigned (Mr C. C. Gialiam) yesterday afternoon. Hunkrupt's total liability was set dowi' at £217 3s lOd; assets, nil. Debts contracted in Dunedin were shown at £103 7s Id; in Lawrence, £122 lis 7d; and in Clyde, £21 5s 2d. The. principal unsecured creditors were: Messrs Ashin (Lawrence). £10 10s sd; TalIjoys (I/awrence), £31 9s 8d; Dr Church (Dunedin). £22 7» 6d; R, Kutherford (l)uflediv), £21 8s 7d: W. Pearce (Dunedin), £13 16s lid; Elliott Bros. (Dunedin), £13 9 S 6d; Dr Newell (Lyttelton). £10 10a; D. Munro kwronce), £10 3s 3d; Dr Hyde (Clyde), £10; other unsecured creditors claimed sums under £10. Mr W. L. Moore aDpeared on behalf of a small creditor, and Mr Stephens for the bankrupt. Bankrupt's written statement showed that in 1830, while employed ns a cleaner on tho railways, his wife was attacked by rheumatic fever ana pleurisy, and had for the past 13 years been an invalid. During all that time ho had been obliged to employ & bousekcepor and to pay heavy mcdica! expenses, Several children also had suffered from long illnesses, thus adding to his expenses. . Bankrupt said he earned G6s a woek. He had received no extras for tho last 12 months. Ho was 35 years of age. When a cleanor, up to 1894, he earned 53 6d a day, and then roceivcd an increase of Gd a day per year up to 1902. By that time bo was fireman. 110 got married on 5s Gd a day. His wife since then had been practically an invalid.

The Official Asai guee pointed out that although bankrupt attributed his bankruptcy to lib wife's illness ho did not appear to liavo paid the doctors.

Bankrupt said lie hud paid as many as he could. Ho had only been a member of a lodge for a brief period when at Lawrence. Mr Stephens pointed out that his client lied paid away hie vugas ;u lioy duo. but while paying off old dobtß to had been obliged to incur new ones. He had b«ji having a hard slrugglo to keep his head above water. , Bankrupt explained that his wife had appeared' to enjoy good health when he married hor. He had paid his way for three months in Clyde, but now his wife k?d l«en again inkwi seriouaJy ill. Ho had three children alive,: stud had lost two. If ha had better luck in the futyte he migM be able to pay something off. Ho had to borrow the fees for .filing Irom bin b>otl)er. He had never drank er gambled in his life. All his money had gono in paying the nurse and the housekeeper and in keeping his home together. Ho paid ono landlord (Mr Mooro's client) £128, and now only owed him £o 15s. He saw very little prospect of being ablo to make any offer to liis creditors. <

Mr Stephens said it was a pure case of miflfortune. It had been impossible for. bankrupt to keep his head above water.'

The Assignee said bankrupt aught to have filed a schedule long ago, instead of incurring ;iew debts liefore old ones were paid off. Under the act there were penal clauscs for obtaining goods without reasonable prospect of beiug able to pay for them. Mr Stephens pointed out that it would have been to his client's interest to have liled a schedule long ago, but he had struggled on.

Mr Moore auiil 1 that as far as his client was concerned he would have to lie satisfied with nothing, and it was not a case in which the mail should be persecuted

Mr Sullivan, speaking for Mr Peatce, said bankrupt had sent ordors wherever lie could tfot credit. Ilia house was aitms full of company.. It waa a crying shame that a man like that should conic to the court for protection. Ho ought to make an offer to the creditors to show his peuuincuc&s. He did not bother much about his own account, but objected on principle.

The iiankrnpt promised that. if his wife recovered he hoped to be in a position to inuke his creditors an offer.

The Assignee did not think the bankrupt would be justified in making .111 offer under the present circumstaficcs. All he could do would be to report the matter as it stood. The meeting meanwhile would be adjourned 1 sine die.