MEETING OF CREDITORS.

Otago Witness, Issue 2818, 18 March 1908, Page 17

MEETING OF CREDITORS.

A meeting of creditors in the estate at Jumes Steel Smith, commission agent, Duneriin was held before the official assignee (Mr C C. Graham) on the 10th met. Bankrupt's statement showed moneys due to unsecured creditors at £72 6s 6d, and as assets book debts amounting to £52 12s 10d (estimated to produce JE4O). The unsecured! creditors numbcied 11. Three debts amounted! to £16 10s, £15, and £12 10s the remaining debts being £5 and under. The secured creditors were William Grey»farmer, of Milburn, the amount of £203 12s being covered by a, fully paid-up insurance policy for £250; also Mrs 0. Christian^ boarding-housekeeper, for a. small amount, secured k>y retention of personal effects. Th« Official Assignee pointed out that soni« of the book debts were disputed. Bank, rupt did not appear to . have kept any regular statement of accounts, but he had handed in a ledger which might answer the same purpose. Bankrupt said his failure bad been due to the illness of his wife during the last eight years, the alteration of the tariff, the withdrawal of the leather trade, and the loss of an agency. When asked if he did not possess a -watch, and chain worth £40, bankrupt bursrt out laughing, and said his watch was rolled gold, and might be worth 30s. The Official Assignee said he thought the book debts might be recovered, and suggested th*t th« matter be left with him to bring about as early a settlement as possible. This was agreed to, and the meeting a &" journed sine di«.