THE BANKRUPTCY ACT.

Otago Witness, Issue 1874, 21 October 1887, Page 18

THE BANKRUPTCY ACT.

At the meeting of creditors at Invercargill in the estate of William H. Whitaker, Dipton, storekeeper, the debtor's statement submitted wai as follows :— Liabilities, secured. £1000; unsecured, £2329 19s 2d;— total, £3329 19s 2d. Assets (secured), £630; unsecured, £1165;— total, £1795. Deficiency, £1534 19s 2d. Secured creditors: Colonial Bank of New Zealand (secured by mortgages over sections 2 and 10, block 11, Dipton, with store, cottage, and outbuildings, valued at £600, section 11, West Dipton, valued at£ls, and a section in Bast Dipton also valued at £15. Principal unsecured oreditors :— Butterworth Bros., £520 17s 7d; Bing, Harris, and Co., £257 4s fid; Fleming and Gilkison, £231 7s 7d; W. Guthrie and Co., £216 & sd ; D. Baxter and Co. (DunediD), £136 lls Id ; Sargood, Son, and Bwen, £145 2s 3d ; Proctors. Jones, and Co.. £105 19s ; Wm. Todd, £93 5s 6d ; J. T. Whittaker, £89 2s 9d; A. Briscoe and Co., £79 6d; Whittingham Bros, and Instone, £66 12s 10d; Kaiapoi Woollen Company, £63 7s 6d ; J. Stock and Co., £56 7a ; Scrutton and Co.'s estate, £54 7s Id ; B. D.M'Lachlan (Dipton), £39 3s 4d; J.W. Murdoch, £27 16a 3d ; and the South British Insurance Company, £23. Unsecured assets: Stock-in-trade at Dipton, £500; stock-in-trade at Nokomai, £100; book debts (£1140), estimated to produce £350 ; furniture, £10 ; section at Nokomai (held under business license from the Crown), with buildings, £150 ; cows, horses, vehicles and harness, £55.-The Deputyassignee explained that the bank had claimed for £1012 and valued their securities at £400. so that they would rank as unsecured creditors for about £600. This would bring the unsecured liabilities up to nearly £3000, against which there were unsecured assets, which, according to the debtor's own valuation, were worth about £1100.— It was resolved to call for tenders for the estate.