CREDITORS' MEETING.

Otago Witness, Issue 1832, 31 December 1886, Page 17

CREDITORS' MEETING.

Re G. Cahson and Sons.

A meeting of the creditors of George and John Carson, of Milburn, limeburners, was held at the office on Thursday. Mr Kettle 'appeared for the bankrupts, and Mr Solomou for the assignee.

The bankrupts' statement showed:—Unsecured creditors, £414 17s 6d; secured creditor, £94 9a lOd (estimated value of security, £.453). Principal unsecured creditors : J. Grant, £226 ; Eaitangata Coal Company. £28 ; J. Sutherland, £20; Duthie and Co, £17; J Gray, £14; W. Chalmers, £13 6s; A. and J. M'Fariane, £12 5a 9d; Dalgety and Co., £10 16s. The secured creditor is the National Bank, who hold promissory notes. The assets comprise: Stock-in-trade, £25; cows and horsen, £84; book debts, £50; furniture, £25; surplus from securities, £358 10s 2d. A surplus is thus shown of £127 12s Bd.

The Assignee said that as this was a very small estate he had not troubled to send a bailiff down, but had got the bankrupts to take charge of them.

George Carson, examined, said he had been carrying on business as a lime merchant till about July last. His son was in partnership with him. They then sold out to Mr M'Donald for £460, payable by two bills. He attributed his failure to- the lime not paying, owing to the keen competition from other kilns. The reduction within the last 13 months was from 3s 6d a bag to Is lOd per bag. Two of the horses put down in the statement belonged to James Grant, his son-in-law. When he filed two of the horses were in Mr Driver's paddock. He had sometimes been working these horses up to the time of his bankruptcy. One of the other three horses was claimed by George, his son. The other two belonged to the bankrupts, also the two drays. Two sets of the harness belonged to Grant. Witness' son George was never a partner of the firm.

A creditor said be was in a position to .prove that George Carson was a partner, or if not these men had been obtaining goods and money under false pretences.

George Carson, the younger, being sworn, said he had never transacted business or signed cheques for his father. The firm, he was aware, was carried on as George Carson and Sons. Ha did not know to whom the term "Sons" referred. He never was a partner in the firm. He was aware of his name, having been used in suing for debt at the Clutha, and he took part in proving the debt. He was not asked if the money was due to him. He said it was due to his father. Witness consigned the lime to the customer in his father's name.

_ To Mr Solomon, however, he said it was consigned in the name of Carson and Sons.

Witness continued that he saw his name in the summons, but did not say anything about it. The bank account was kept in the name of George and John Carson. Witness sometimes^ received the firm's cheques for wages. He worked for 30s a week, but did not get his wages regularly. He claimed five horses for his wages, but two of them belonged to Grant. The meeting was adjourned till January 6.