MEETING OF CREDITORS.

Otago Witness, Issue 2396, 1 February 1900, Page 9

MEETING OF CREDITORS.

A meeting of the creditors in the estate of Alfred William Legg (deceased), of Balclutha, was held in the office of the official assignee on Tuesday afternoon, the estate being administered under " The Administration Act, 1879, Amendment Act, 1888."

The deceased, who was a blacksmith at Balclutha, died some 11 months since, and probate of his will was obtained by his widow and son. The liabilities in the estate amount to £396 18s 6d, the stock-in-trade is estimated at £17 17s 6d, the book debts £156 9s 4d (expected to realise £80), and there is cash in hand £18, the deficiency being £281 12s. The principal creditors are: — A. W. Legg, £150; Booth, Macdonald, and Co. (Christchurch), £39 17s 7d; Laidlaw and Gray, £21 18s 6d; Reid and G-rav, £47 4s 7d ; John Edmond. £15 8s sd ; Dr Smith, £10 10s; Duthie Bros., £9 11s sd; D.1.C., £7 9s 2d; Ckitha Leader, £7 17s 6d.

Mr C. W. Kerr was voted to the chair, and the creditors present were — Messrs J. Edmond, P. Laing (D.1.C.), G-ray (Laidlaw and Gray), and J. Duthie. The executors were represented by Mr D. Stewart.

The Chairman mentioned that it appeared at the time of the death of the testator that the estate would pay 20s in the pound, and it was now 11 months since probate had been granted. He thought the creditors had a claim upon the insurance policy, which was for the amount of j6237, and that the executors should be prepared to pay them 10s in the pound.

After a general discvission, it was resolved on the motion of Mr Duthie, seconded by Mr Kerr, that the meeting be adjourned until Monday, the 29th inst., at 2.30 p.m., to give the executors time to make an offer to the creditors. The meeting was adjourned accordingly.