MEETING OF CREDITORS.

Otago Witness, Issue 3018, 17 January 1912, Page 8

MEETING OF CREDITORS.

A meeting of creditors in the estate of John Joseph Cooper, coal miner, was held in the Courthouse, Milton, on Tuesday, 9th inst., (before the deputy-assignee. It is understood the bankruptcy was necessitated through an award of £525. compensation for the death of an employee, being made against Cooper, Jiis hands not being insured against accident at the time. Five creditors, including Mrs M'Luckie, the widow of the miner unfortunately killed, attended. Mr Reid appeared for the bankrupt and Mr Thomson for Mrs M'Luckie. A statement by the bankrupt covering his transactions for sevenal years was read by the assignee, ana considered satisfactory by the great majority of the creditors. The statement showed liabilities to the amount of £546 ss, against which there was a security consisting of property at Tokoiti valued at £4OO. secured liabilities amounting to £154. The unsecured creditors included Mrs M'Luckie £525 Is 6d, and various others for smalt sums. The assets set down were —Cash in hand, £75 ; book debts £2O; balance money on purchase of farm, £115; and equity on Tokoiti property. £246; leaving a total estimated deficiency of £9O 5s .

Bankrupt was sworn, and explained certain farming and stock transactions, to Mr Thomson, also some matters relating to the mine—output, prices, and so on. Ho did his utmost to settle with Mns M'Luckie from the time of the accident. To Mr Reid he said he used every legitimate means to settle this claim before it went to the Arbitration Court. Through the assistance of friends he was enabled to offer £350, and lie was willing to make over every interest he had. After the judgment he did everything possible to avert bankruptcy, and did his utmost to meet his creditors in full. Creditors had no questions to ask.

The Assignee explained that lie had. seen the legal firm in whose hands the property was, and there would bo nothing put in the way oi Cooper carrying or: if he 'wished to.

Mr Reid pointed out that through the whole proceedings aiince the accident Cooper had not been guilty of a single doubtful action. Ho luwl acted in the most honourable i.nd straightforward manner. After the judgment against him he had not sat down and allowed tilings to slide, but had worked like a man for his creditors and had improved his position vary much. His trouble arose through sheer misfortune, and he deserved every consideration from his creditors and their

entire sympathy, lie asked them to pass a resolution for his immediate discharge. Mr Porter, in proposing the motion, fully endorsed all that Mr Reid had said. The representative of Mr Edward Stewart seconded, but on being put tho motion was lost on value, as Mrs M'Luckie opposed it.