MEETING OF CREDITORS.

Otago Witness, Issue 2215, 13 August 1896, Page 11

MEETING OF CREDITORS.

Re Joseph Beatxie.

-A meeting of creditors in the estate of Joseph Beattie, farmer, of Milburn, which was to havo been held at the official assignee's office on Thursday morning, lapsed for want of a quorum. As all the creditors roaide at or in tho neighbourhood of Milton it was decided to adjourn the meeting until the following Tuesday at that place. The bankrupt's statement showed his liabilities to be £155 133 6d, and his assets £26* Gj, there being an apparent deficiency in the estate of £120 7s 6d. The following arc the uusecurad creditors:— William Chalmers, Milburn, £4 183 fli; Dr Sutherland, Milton, £8 ; Oowie Broc, Milburo, £2; John Alexander Dathle, Milton, £40; Mwtthew Hemloisw. Milburn, £41; William Boattie, Milburn, £56 15 a. The assets consist of stock of the value of £26 63. In a written statement fllod by the bankrupt, iv addition to the above-mentioned one, he stated that in March 1893 he entered into an arrangement with his brother to work tbe farm he was now on. He had no capital at that time, but was not in debt. His brother lout him some horae3 and farming imphraents. He was to pay a reasonable tutu for their uae, but the amount was not fixed. la April 1893 he bought 183 sheep for £83, and gave a promistory note to Mesara J. A. Duthie and Go. for the amount of the purchase money. He had to sell the sheep again in September of the same year in order to meet the promissory no I*,1 *, and they only realised £87 lls 6d. In the aamo year he put in 17 ncres of wheat and barley, but owing to the fly getting into the crop he only got 24 bags of wheat and .five of barley. He bought other sheep after the harvest of 1894, and ia June of that year he was compelled to sell ab a loss of Is per' head. Af that time he owed £43 12s UtoMr W. Henderson, of Milburn, and £79 14s 2d to Messrs J. A. Dathia and Go.,' of Milton, in addition to several debts of small amount, aud being pressed by Mr Henderson he handed all his properly to Messri Duthie and Henderson, and it realised 10a in the pouudon the amount of their debts. In consideration of his handing tbe property to thorn, they agreed that they would not press him for the balanoe of their debts. The snull debts owing by him at that time had since been paid. After tlut his brother lent him ICO bigf of chaff and 70 bas* of oato, and he bought 100 cwos with the sum of £45 belonging to his wife— the proceeds of a sdlo of property owned by her before tier marriage. The3o sheep he sold about the end of September 1895, aud with tbe proceeds he bought 92 hoggets. He sold 45 of the hoggets in March 189tf at 9a par head, awd out of the proceeds paid Dr Sutherland £8 for attendance of his wife and family,- and £5 10s, for a horse, The balance of the hoggets he sold in July of this year in order to pay the rent of the farm. Iv 1895 he sowed 10 acres of barley, but it only realised £15, with which he then paid the tent of the farm than due. In 1896 ho sowed 26 aor«s of oats, wheat, and barley, and realised £58, of which he paid the sum of £40 to Mr Henderson in May last. During the last three years he had paid £115 for rent of thefurm-£93 to Mr Henderson and £<0 to J. A. Duthie and Go.— in addition to smaller debts. His reason for failing was that Mr Henderson had sued him for the amount of his debt, including the old debt of £24.