MEETING OF CREDITORS.

Otago Witness, Issue 3244, 17 May 1916, Page 29

MEETING OF CREDITORS.

A meeting of creditors in the estate of Corrie Duncan Ayson, late of Dunedin, but now of Christchurch, motor driver, was held at the Public Trust office on the 11th inst. Ayson was recently adjudged bankrupt. Mr C. Zachariah, official assignee, presided, and Mr G. S. Thomson appeared on behalf of the bankrupt. The bankrupt's statement sot forth that he was a married man with a child one year old. He was a motor mechanic, employed by the New Zealand Motor Transport Company at a salary of £4 a week from May 1 till October 1, 1915, when he was ap : pointed manager and secretary at a salary* of £5. He lost his position last March through tho business falling into the hands of a receiver. Before this he was in business on his own account as a carrier from Dunedin to Mosgiel and surrounding districts. His motor wagon was bought on the hire purchase system from the Pacific Motor Company, Dunedin. He -was unsuccessful in h's venture through the heavy expense in upkeep and not having sufficient capital to work up the When he fell behind with his instalments the company resumed possession of the wagon, on which he had spent at least £SO. Ho had no proposition to make to his creditors, and attributed his failure solely to misfortune and lack of business knowledge. The total amount owing to unsecured creditors was set clown as £231, the principal debts beinrr £BO claimed as owing to Mrs C. Cook, £75 owing to Joseph Outram, and £26 owing to Cheyne and Co., Mosgiel. There were no secured creditors. The assets, amounting to £B7, were made up of book debte, estimated to produce £2, wages owing by Motor Transport Company £6O, and furniture valued at £25. Mr Sinclair stated that there was a further £75 owing to the Pacific Motor Company. It was stated that the total amount of debts was probably about £4OO. Bankrupt claimed that £9B was owing to him in wages. The matter was left in the hands of tho official assignee, and the meeting was adjourned sine die.