MEETINGS OF CREDITORS.

Otago Daily Times, Issue 19254, 19 August 1924, Page 2

MEETINGS OF CREDITORS.

ESTATE OF PETER KYDD X.OW,

A mooting of creditors in the estate of Peter Kydd Low, a journeyman baker, residing at 121 Cargill road, South Dunedin, was hold at the office of the Official Assignee yesterday. Mr E. W. Cave (Official Assignee) presided. Mr O. J. Cooke (Irwin and Irwin) appeared for the bankrupt, and Messrs W. Ward (solicitor) R. S. Brnmnor (solicitor), Aubrey Wright, and J. A. Johnston for various creditors. The unsecured creditors’ claims amounted to £lOl 5s sd; the principal being Murray and Robertson (Gore), £2O 14s, A. and J. Watt, £lO ss; Mrs Bulmer (for rent), £l6 ss. . Debtor, in his sworn statement, said that ho was a journeyman baker by trade. He was married and had two children. He had worked in (Tore for about 12 months, after which period ho was idle for eight months. On November 2, 1922, he left Gore and carno to Dunedin to work for Samuels Bros, at Anderson’s Bay. He remained with Samuels Bros, for about 16 months and earned £4 13s per week. He then went to Waikouaiti and worked for a Mr Webster for £5 a week. He found it was cheaper to live in the country. Ho incurred a lot of expense shifting from house to house at Waikouaiti. After being there, for about six mouths he lost his job to a former employee of Mr Webster s. It was five weeks before he could again find employment. He then came to Dunedin to work for Messrs J. R. Brown and Co. at £4 13s per week. When he left Waikouaiti he owed about £47. Ho remained in Brown and Co.’s employ for three months. Ho was then off work for three weeks, pater he relieved at Saudom’s for eight weeks at £4 15s per week. After that ho was out of work for 12 weeks, and then got a temporary job with the Telegraph Department Since his marriage there had been a good deal of sickness in his family. He attributed his present position partly to that fact, and to the fact that he hod been so much out of work. . In answer to questions bankrupt stated that his employment with the Telegraph Department was only temporary, and his wages were 13s 4d per day. He- valued his furniture, which was bought by his. wife, at from £2O to £25. He was living m n four-roomed house which cost him 12s 6d per week. Bankrupt was closely examined bv Mr Ward as to his alleged drinking habits Ho stoutly denied being in the Caledonian Hotel on August. 6 and passing a 2s piece over the bar to pay for drinks. Mr Ward : If we bring a witness to prove it would you still deny it? Bankrupt: I would. To Mr Bremner: He was only once on a racecourse during the past 12 months. In answer to fnrthor questions bankrupt stated that a judgment summons order was made against him at Waikouaiti for 2s 6d per week. He bad paid 27s 6d under that order. On the motion of Mr Wright, seconded by Mr Ward, it was resolved that bankrupt’s discharge bo opposed until he pays 10s in the poiind. Bankrupt stated that he did not think ho could pay more than 2s 6d per week, hut would endeavour to do so.

ESTATE OF HERBERT ERNEST SMITH. A meeting of creditors in the estate of Herbert Ernest Smith, commercial traveller, was held in the Official Assignee’s office yesterday, Mr E. W. Cave (official Assignee) presiding. Mr J. G. Stuart represented bankrupt. Mr W. Jj. Moore, Mr John Wilkinson, and Mr Aubrey Wright represented Severn’ unsecured creditors, and Mr A. H. Crawley (Messrs Butterworth Bros.) and Mr H Divers represented Mr P. Cummings, the only secured creditor. Claims submitted by unsecured creditors amounted to £266 7s, secured creditors £l7 7s (estimated value of securities £6O). other liabilities £4B ss. Debtor’s stock-in-tradr was valued at £55. book debts £7B 14s 3d (estimated to produce £75), cash in bank £1 10a, surplus from securities £42 13s, leaving a deficiency of £165 9s. 'lhe principal unsecured creditors were:--Butterworth Bros., £155 15s 8d; MT.ean’s (Ltd,), £22 17g 4d; Fraser and Hurst. £10; Gordon and Co., £l7; Arthur Barnett (Ltd.). £10; Lane and Co., £4O 12s. Bankrupt in his sworn statement said that up to the end of May, 1923. he had been employed by Messrs Mollison and Co. as commercial traveller at a salary of £5 per week. Out of that amount ho had paid £2 10s per week for the maintenance of his wife and» three children under an order, and that Order was still in force When Mollison and Co. went out of business he was without employment for two months. About the beginning of August, 1923, ho started in business on his own account, buying goods chiefly from Messrs Butterworth Bros., and selling them in the country districts. For a. time ho held his own. but towards the end of November he' began to fall behind. During January and February business was bad. It became increasingly difficult for him to get goods for sale, and latterly the lines of goods which ho had for sale were very much restricted. Messrs Butterworth Bros, commenced to press bankrupt for settlement of their account, and as he was unable to pay he had no option but to file. He attributed bis present position mainly to a great falling off in business since the beginning of the present year. Bankrupt, in reply to questions, said Lane and Co.’s account was for whisky which ho bought and sold. _ Part of that amount was for whisky which he traded in while he was in the employ of Mollipop and Co. He did not notify Messrs Butterworth Bros, that there was a lien on his motor car. He led Butterworth Bros, to understand that they were the cnlv creditors. To Mr Stuart: Ho did not conceal the fact that there was a lien on the car. Ho was not asked by Messrs Butterworth Bros, if there was a lien on it. At an interview at Messrs Aspinall and Sim’s office he was told that he would be compelled to file. Mr Crawley said Messrs Butterworth Bros, did not press bankrupt to file as was suggested. What they wanted him to do was to assign his estate for the benefit of the creditors. To Mr Moore: Ho was going to sell on commission, and expected to earn £5 per week. Mr Moore pointed out that bankrupt had gone back to the extent of £5 per week since November last. To Mr Wright; He owned furniture which was now in the possession of his wife. It was valued at £l5O. Mr Moore thought bankrupt’s discharge should be opposed until ho paid 10s in the pound. It was decided to accept Messrs Butterworth Bros.’ offer to take hack any of their goods at cost price. Mr Moore moved that the bankrupt be required to pay l£s iiv»the pound and that the Official Assignee be asked to consider section 138 of the Bankruptcy Act, with a view of a prosecution. This was seconded by Mr Crawley. Mr Wright thought the creditors should be content with 10s in the pound. Mr Divers agreed with this. He had known bankrupt for a number of years, and had always found him to bo very straight The Official Assignee suggested that the meeting stand adjourned for threo months. This was agreed to, and the motion was withdrawn. Tho Assignee was instructed to realise on tho assets.