MEETINGS OF CREDITORS. Re Thomas Andrews.

Otago Witness, Issue 2356, 20 April 1899, Page 9

MEETINGS OF CREDITORS. Re Thomas Andrews.

The first meeting of creditors in the estate of Thomas Andrews, of Waikouaiti, farmer, was held in the Official Assignee's office on Thursday morning. Mr Sim appeared for the bankrupt, and there were five creditors or their representatives present — viz., N.Z.L. and M.A. Co., Dalgety and Co., A<"G. Watson, and J. Reid and Son. Bankrupt's statement showed his liabilities to be £239 Is 3d (secured creditors £150, less estimated value of securities £170 surplus to contra £20) ; assets (farm at Waikouaiti £90 17e, leasehold farm al Waikouaiti containing 2100 acres £j/j, surplus from securities £20), £120 17e. The principal unsecured creditors are — Mo)i»t Ida Chronicle, £8 13s ; J. Alexander, Naseby, £20 ; J. Pearson, Naseby, £7 9s ; S. Harris, Kyeburn, £12; J. Law, Eweburn, £6 10=;: Dr Church, £6 13s 6d; R. Inder, Naseb". £60; J. H. Milligan, Oamaru, £4 ss; Reid and Gray, £3 6s 3d ; A. G. Watson, £9 14 <> \ Mollison and Co., £8 ; C. Cordes, £22 3s t< ; S. Solomon, £8 7s; Dalgety and Co., £50:. A. Kennarcl, £4 4s. The secured creditor in the estate is John Reid and Son, the amount of whose debt is £150, and estimated "value of security £170. The security was in respect of freehold property of two and a-half acres situated in Thomas street, Waikouaiti, wiUi eight-roomed- dwelling house thereon, aiiil out-buildings. Bankrupt, in his written statement, said he started farming on Maniototo in the year 1886 with a capital of £300. He leased a farm of 400 acres at 2s per acre. He had it leased for seven years. He made nothing out of it for the time he had it leased, but held his own. In 1893 he bought the farm, giving £1100 for it. A few months after buying it his wife died. Her sickness cost him a lot for doctors, and he had to keep a housekeeper over since. Twclto months after buying the place he had three dry seasons in succession. Two years out of the three he did not grow as much as would feed his stock, and had to buy all seed for two seasons, and he had about 200 acres under crop each year, no could see he could not keop on, and thought it best to call a sale. Twelve months ago ho sold everything except a horse and saddle. The farm brdught £580, crops, stock, and implements £279. The stock and implements went at half their value, as tlTe farmers had no money to go in for them on account of the dry seasons. Three months before leaving the Maniototo he took up a sheep run at Waikouaiti thinking the sale would have turned in more money-than it did. He found ho could not carry on, and had to file. He handed over everything he had to his creditors, and could not do any more. The Assignee asked bankrupt how did he think he could make the farm pay when he paid £1100 for it, if he could not make it pay when he leased it for 2s an acre. Bankrupt said that times were better when he bought the farm than when he leased it. He said ho paid £400 down for the farm, and the balance stood at mortgage at 6 per cent. The farm was afterwards put up for auction with, a reserve of £600. It did not realise this, but the mortagee let bankrupt off for the balance. His stock and implements were also mortgaged, and the sale, therefore, left him nothing. The sheep lun at Waikouaiti was taken up three months before ho sold out of the farm. He leased the run, which was 2100 acres, from the Hawksbury Borough Council at £100 a year, and went into debt with Dalgety and Co. to the extent of £40 for stock". Bankrupt kept no books. Mr Reid said, with regard to the property for which they were agents the security had been realised, and there would be a small balance. After further questions, it was decided that Dalgety and Co. should proceed with tho sale of the stock, which comprises 320 head of ewes and lambs. Re Charles Eason. A meeting of creditors in the estate of Charles Eason, of Owaka, settler, was held in tho Official Assignee's office on Thursday afternoon. Mr Milne appeared for the bankrupt, and there were present — Messrs A. Medder (Owaka), J. Pressly, J. M'Farlane, and W. T. Bunting. Bankrupt's statement showed his liabilities to bo £102 8s ; assets — furniture, £5 ; three bullocks, £3 15s; total, £8 15s; deficiency, £93 13s. The principal unsecured creditors are: E. A. Smith, £16 2s 4d ; H. Lamont. Kaikorai, £11 11s ; W. T. Bunting, Kaikorai, £10 9s 9d ; — . Sutherland, Kaikorai, £4 15s sd ; J. Pressly, £5 16s ; — . Anderson Romahapa, £10 4s ; A. Meder. Romahapa. £26 ss ; New Zealand Co-joperative Co. (Limifed), £7. Bankrupt, examined ou oath, said that the greatest number of stock he had at Owaka wan three bullocks. There were also four cows belonging to his wife there. They were the progeny of cattle Flic had at Halfway Bush. The fnrm was held in his wife's name, and the rent was 9d per acre. No cattle had been taken off his place within the la6t three months. There was about 7000 ft of cut timber on the farm belonging to his wife.

Mr Meder atked if it were not a fact that bankrupt went down to Owaka and got the farm in his wife's name, and did not pay any of his tradesmen.

Bankrupt denied that that was so. j Bankrupt in his written statement set forth that owing to the illness and death of his first | wife in 1890 he was involved in heavy ex- i penses for medical attendance and house- j keeping service. From 1890 to 1895 he lost | 67 head of cattle on a farm at the Kaikorai in- j fested with lung worm. Ho was married to j his second wife in 1891. He had 10 children, j three of jvhom were maintaining themselves. He went to Owaka. in 1895, where hie wife had previously taken up a section on perpetual lease. She had about £35 of her own money, and with this she bought some furniture, and built a hut. His earnings for outside work for the past two years had not amounted to J £42. He had been compelled to file, by the" j issue of a judgment summons against him by . Adam Meder, of Owaka, in respect of a debt ! of £25 4s sd. Mr Pressly moved, and Mr Bunting seconded, that bankrupt's discharge be opposed until ho paid 5s in the £ to his creditors. Mr Meder voted against the motion on the

f ground that bankrupt should be made to pay more. j The motion was accordingly lost by value, i and the meeting thereupon adjourned sine ! die.