MEETING OF CREDITORS.

Otago Witness, Issue 2240, 4 February 1897, Page 24

MEETING OF CREDITORS.

Re W. Boblev. A meeting of creditors in the estate o! William BarJ^y, eabmebmaksr, of Ba!clu<iha, , was held at the official assignee's office yesterday morning. Mr D. Stewart, of Balclutha, appeared for the bankrupt, and there were J three creditor* present.. j The Binhrrnpb's statement showed his liabili- | ties to be £259 0* Id, and his assets (consisting : of furniture aofl cabinetmaker's tools) £25, | there beiog a deficiency in th» estate of £234 0) Id. The following *r* the principal unsecured • creditors :— William Murphy . (Milton), £10 ; j Dr Stewart (Milton)-, £7 7s; Schalferand Co. (Wellington). £25 10b ; William Bates (Chriat- ; church), £28 ; Henry R. Moody (Dunedin). ' £37 9a 7d ; Stokes and Son* (Dunpdiu), £4 : j 10s ; Gec-rse Esther (Dunedio), £.66 ; Back- | wood and Chapman (Balclutha), -£.d lOi ; J. S. I Kenning (BaJoluOjta), £8 10a ; John M«Gorlj,y ! (Balclufh-*), £10; J. Dnnue (BaJckitha), ! £20 16 1; Dr Fleming (Balclutha), £7; Fcee Press Company, £5 ss ; Charlea Wood (Balciutha), £b 14s 8d ; Andtew Christie (Mosgiel), .£ls 16s. The Assignee read the following written statement of the bankrupt: — "About three > and a-balf years ago I was uirrying on j business in Bilc'.utha as a cabinetmaker, bu'o | ro little business was doing that I was cuoapailed | to call a meeting of my creditors, who resolved J that I should assign my estate to Messrs Lousiey aud Finker in tqnjßfc for my creditors. Some of my creditors whoso bills amounted in all to j about £180 refused to joiu in the assignment, ' snd I have, out of tny w»g»8 paid off a considerable patt of that amount. Mr Gtor^e fils..hcr pucch>ised my ettitre from the tru-tces, and leased it to me under a bailmeut for £110, re- ( payable at Mia rato of £10 * mout.h. He also i lent me £46 I asjaiu found the business vpey r unsatisfactory, and closed on Match 28, 1894. < ! I have since been employed by Mr George j ! Thomson at tha wage of £3 a week, but I have ; been out of work (through ill nest and other ■ ' nau.ies O9ec which I had no control) for five j months, during which I had. no wages, and. I ! again fell behind financially. I also lost £24 [ > on the sale of a horse and cart. I have reduced i my indebtedness to Mr Esther by £135, being j & balance of £36 still owing. I paid interest ; | amounting to £25. I also reduced my old debts [ b? £72. I still owe £259, most of that amount j being old debts, and as I atn pressed for payuient, and fiee no hope of being able to pay [ : these claim* out of my small wtge, I am com- i i pelled to become bankrupt. Out of my wage I I have to support my family, consisting of a j rwife and fiva children." • ! ! On the motion of Mr George Esther, seconded f I by Mr H. R Moody, it wat resolved to recom- \ : mend the bankrupt for fa) 8 immediate discnargn, . ' both the mover and the seconder of the motion ; exprenfting the opin ; on that it was purely a ewe j of raisf urbane that Mr Barley was in hia present } i position. ' BE S. R. STEDITAiT. ' An adjourned m-eting of creditors in the estate of Satnuil R'ebard Stedman, cyole expert, of .Dunedin, vrisr held, at the official ! f»esignee's office yesterday' afternoon. 'Mr I Fraser appeared for Messrs Dutbie Bros, and ; J. M'D.inald. Mr Thornton for the National J Btnk, and Mr Sim for the Austral Cyole i Agency. Mr B. C. Haggitt w&a in attendance i to watch the 'proceedisgs on behalf of the \ assignee. There were also five 'creditors ! preoeut. ' The Aanignee stated thifc the previous meeting had been adjourned until thst day in order to admit of Mr Edge being examined. Ke bnrne E. Edge, who was examined on oath, said he was managing director of the Am- . tral Cycle Agency Compaoy (Limited). The company was incorporated in 1896. He took over Mr Rudd's business, which was purchased from Mr Stedman on the Ist of January, 1897. A number of bicycles were purchased on the ! hire-purchase syifcem, and he had taken pos*es- • sion of them. The hire-purchase documents ' were assigned en bloc to the cooapuny. He could j not say how many bicycles there were out on tho I hire-purcbace system. Mr B. Duthie stated that there were batween 200 and 300 machines out on the hire-purchase system.Mr Edge, on being further examined, said he only represented Mr Rudd through the assign- i meni he made, and auy deb's due to Rudd he \ claimed through tbe assignment. He (Mr I Edge) still employed Mr Stedman as foreman I in the repairing and manufacturing depart- i ment. He was establishing agencies throughout the colony. j The Bankrupt in reply to Mr Fraaer, stated ! that he did not know the exact date he sold ont ito Mr Rudd Mr Rudd paid the rent of the premises afl.er he bought the business. He was over here in 1894, when the sale was made. Bankrupt explained his whole poeition to him. I In answer to Mr Thornton, Bankrupt said it wa* after Mr Rudd purchased the business that Mr Either discounted a bill for him. He in- ; formed Mr Esther that the business had bean i purchased. ' j ! Mr Either moved — "That , the official | assignee De authorised to negotiate privately with the Au>t-al Cycle Company for the sale of the electrical plant and any other available \ assets in the estate, and effect a dale." ! Mr J. Dufchio ssconded the motion, which ] was carried unanimously. ~ j ■The meeting was then adjourned. I Palmerston North is suffering from a plague ' of unpaid rates, and sumnonses have baen ' lfibued fvi: arr.eai.-a amounting to over £1000. '