MEETING OF JOHN EWING'S CREDITOR.

Otago Witness, Issue 2714, 21 March 1906, Page 10

MEETING OF JOHN EWING'S CREDITOR.

(Feoh Oub Own Correspondent.) • NASEBY, March 13. The first meeting of creditors in the estate of John Ewing, of St. Bathans, miner, was held at the Courthouse, Naseby, thi« afternoon, the deputy official assignee (Mr F. R. Smith) presiding. Bankrupt did not appear, but a letter was read from the Official Assignee, Dunedin, stating that Mr Ewing had called upon him, and could not be present at Naseby, as he had not the wherewithal to take 'him there. The creditors present were : — Thomas Morgan, Neil Nicolson (manager Scandinavian Water Race Company. Registered), Patrick M'Carthy, John Thurlow, Patrick Kenney. Mrs M'Guckin. Rees Hughes. D. Jones, H. W. Hilton (manager of the Bank of New Zealand), J. W. Reed (edilor Mount Ida Chronicle). Messrs J. R. Kirk and E. C. Cutten represented several wagesmen. Bankrupt's statement of assets and liabilities showed: — Unsecured creditors, £2939 14s 9d ; secured creditors. £12.400; estimated value of securities held by Bank of New Zealand, £20.558 (amount of debt to Bank of New Zealand, £11,800) : estimated value of securities to Mondv, Sim. and Stephens, £3000 (amount of debt, £600); surplus from securities, £23,558; book debts estimated to produce £50; office furniture, £10; other property, £90; — altogether a surplus to credit of £8318 5s 3d. The principal unsecured creditors are: — Scandinavian Water Race Company. Registered (who have proved for £1500, although. Ewing put his indebtedness at £250); John Allen (Lauder), £85; William Burnett (Dunedin). £130; Cossens and Black, £780; John Dowdall (Bald Hill Flat), £40; Joseph Gallagher (St. Bathant,), £42; Martin Hanarhan, £50; Rees Hujrhes, £45; Patrick Kenney. £56: J. R. Kirk. £49; Patrick McCarthy. £90; Robert Gilki^on, £255 14s; Thomas Morgan. £166; Gilbert O'Hara, £56; Arthur Robertson (Roxburgh), £100; Robert Todd (Nelson), £40: Thomas Wilkinson (St. Bathans), £300; Andrew Young (Roxburgh). £70. Mr Hilton, on behalf of the Bank of New Zealand, proposed that as the Ophir branch of his bank had verr short notice of the meeting and no time to lodge proof of dobt, the meeting should be adjourned. This was seconded by Mr Patrick MTarthy. Mr Morsran moved, and Mr John Thurlow seconded, that the meeting proceed ; an 1 on being put to the meeting Mr Morgan's motion was carried. The Assignee read a telegram received from Mr Hutton (Clyde) asking what was proposed to be done regarding the litigation pending in respect of the Roxburgh water rights. The Assignee stated that bankrupt had shown no such assets in his schedules, and he assumed that such rights must be included in the mortgaged property, and in such case he considered that the- mortgagees should look after their interests. It was resolved that the Assignee disclaim the proceedings. Mr Morgan asked whether bankrupt had made any reference in his statement to the Channel Company's shares, gig. horse, harness, house at Cambrian, and other articles, and moved that bankrupt supply balance sheets for the past three years. in accordance with the provisions of section 61 nf the Bankruptcy Act. The motion, being duly seconded, was ca i rifd. Mt Xicolson moved that the Bank of New Zealand be a=ked to take into consideration the nosition of the wagos men and small cieditor=;. who ha\e helped to build up rho bank's spcinitie*. This also wa- carried Mr Kiik as proxy for the waaps men. brought up the matter of Ewing's appeal i-> the Aopeal Court, and asked what the AsMdiice intended to do in the mait-er. If • here was a chance of sucee** the appeal should be continued, but even if the creditor obtained the prowertv. could thov do p.r-.th'ng with it 9 Hi= clients wanted as In r«e a dividend as could br» obtained, but did not fool di-ijospd to further fritter away tic potato in useless expenditure. The As, i 'ncn =-tatrd that he had no f>md< and r 1 1 (1 not care to go on with the appeal. Mr Nico!=on stated that, so far as the Scandinavian Company wa' concerned, it di 1 not earo whether the appeal was gone on wnh or nor. Thf> company was quite cert-sun what the result would be. Mr Kirk- pointed out that ?ccuißv for cost" had been lodged, arid stated that if the AsHirnoe filed a disclaimer- the proba l.ihtios were that part of the deposit would

fall into the estate, as counsel for respon^ dent might not then be allowed fees for preparing for trial. He moved on behalf of Mr Hugh Brown, and seconded on behalf of Mr John Dwyer, that tliß Assignee file a disclaimer and do his utmost to secure as much of the deposit as possible. On being put to the meeting the motion was carried unanimously. The meeting adjourned sine die, the Assignee to call a further meeting when information asked for is supplied by the bankrupt.