The Colonial Bank.

Opunake Times, Volume V, Issue 198, 28 July 1896, Page 3

The Colonial Bank.

Dunedin, July 24.

In Chambers to-day application was made on behalf of the liquidators of the Colonial Bank to sanction the acceptance of the compromises offered by certain debtors. The cases were— Robert Wilson, .Dunedin, lately merchant, now out of business. Amount owing £1644 15s 7<L„ (balance on current account in D fist, security lien over certain shares expected to realise £BOO or £825). Mr Wilson offered £450 in full discharge. Mr Hugh Carswell, Invercargill, lately stock and station agent. Amount owing owing in D list £1731 2s 2d. He had paid £250 and would pay another £250 in August. It was proposed to settle on paying £BSO extra. Mr Wm. Todd, of Invercargill, late auctioneer. Indebtedness when the Bank went into liquidation £18,997 in B list. All s the properties held as securities have been sold, and the amount (not stated) 1 paid into the Bank in reduction of debt. His friends had'bought for £IOOO some properties. He bad gone to Western Australia. The liquidators said he had acted honestly. Mr Archibald Morton, Haldon Station, Mackenzie Country. Debt £348 18s 9d (shortage on advance on shipment of wool). This JPas a case of a man who lost everything by last year's snowstorm. Prom being a runholder he had been reduced to the position of a shepherd.

The Inangahua Finance Company, of Reefton. Debt £2BB, and 10s in the pound was offered by one of the members.

Mr McAllister, of Blenheim, working coachbnilder. Debt £954 on overdraft. Security, house; with assistance of friends £SOO was offered in full settlement.

Mr W. Action, solicitor; the debt was £9877, the amount being in the D list. The security was a mortgage over land and lien on shares. He offered £BOOO in cash, and the liquidators thought they had better take it. This recommendation was made after full enquiry, during the course of which Mr Adams said he had been living on £250 a year. Mr Patrick Callanan, farmer, Table Hill; debt £B4O 16s lOd ; composition of 58 in the £ offered.

Mr John Callanan, Wattehuna; debt £lO7 7s 6d ; composition of 5s in the £".

John Boyd Auckland, commission agent. This person owed £4376, deficiency in drafts on kauri gum.. He said the Bank's agents at Home sacrificed the gum and ruined him. After his capital was lost he received a legacy from his mother, which he paid to the Bank. The Bank got about £SOO. All he now had was a couple of insurance policies; one of them no surrender value; from the other he could get a surrender value of £3OO, which be offered. His Honor sanctioned the whole of the compromises suggested.