MEETING OF CREDITORS.

Otago Witness, Issue 3396, 16 April 1919, Page 6

MEETING OF CREDITORS.

A meting of oreditors in the estate of William Adie Caithness farmer, Evansdale, was held at the office of the Official Assignee on the 11th, the Official Assignee (Mr W. W. Samson) presiding. Only throe creditors were represented—Mr C. J. White representing Mr F. Monson, Mill. W. Reid (John Reid and. Sons), and Mr W. Easton (Otago Daily Times Company). Mr J. W. Thomson appeared for the bankrupt.

The bankrupt's sworn statement showed that his brother had purchased a farm of 20 acres at Evansdale, together with a mail contract (Evansdale to Merton) with money loaned by the ba.hkrupt. After five months the brother finding his health not good, induced him to enter into partnership, and to purchase another farm on the opposite side of the road. His brother's health continued' bad, and he was unable to do any work, on the farm, but was able to carry the mail. Last year he became strange and very irritable. In Ootober he collected a"quarter's cheque on the mail contract, amounting to £22 10s, and went Into Dunedin Hospital for treatment. He subsequently went to Ohristchurch for treatment, and while there'stayed with a friend named James Gordon. In November bankrupt received a solicitor's letter, demanding a dissolution of partnership and claiming £2OO. Bankrupt wrote his brother a friendly letter, asking him to withdraw his claim and come home, and try to pull together. As the farm was heavily- mortgaged bankrupt could not raise any money to buy his brother out, and oould not do so from the returns of the place. Ho wrote to the solicitors stating that his brother had misrepresented the position. On January 1 his brother's solicitors claimed and colleotecl from the Postmaster at Dunedin another quarter's instalment of tho

mail contract, amoxmting to £22 10s. Towards the end of January his brother went to Timaru, and three weeks later committed suicide, and left a will in favour of James Gordon. A writ was issued against the bankrupt for dissolution of the partnership, and in order to clear the matter up and ascertain his true position he had decided to file.

The amount owing to unsecured creditors was set down at £79 2s 2d, the principal sums being £56 Iss for wages due to Miss Annie Caithness (sister to the bankrupt), and £l6 Is lOd to the Otago Daily Times. The amounts owing to sundry creditors totalled £IO7O, made up as follow: —John Reid and .Sons, £400; F. Moiisou, £250; State Advances Department, £220, and Mrs Small £2OO. The Assignee intimated that as there was no quorum present no resolution could bo carried.

Mr Thomson said tho bankrupt had not filed because the farm was a failure, but because of the unfortunate partnership affairs. It "was really a question whether the brother was in a fit state of mind to make a will. Ho thought that this was a matter which required looking into. In answer to questions tho bankrupt stated that the Money Club held a lien over the stock to the amount of £l2. Tho property on which Mr Monson held a mortgage consisted pf 159 acres, and was purchased for £650. Tho mail contract was worth £IOO a year gross, in addition to which there was a newspaper run, which brought in about 10s per week. His book debts were estimated to produce £lB 15s fid. and there was cash in hand amounting to £43 3s 2d. There was an estimated deficiency of £lB7 13s sd. Tho Assigneo suggested that efforts should bo mado to clear up the brother's estate. Ho thought probate should bo applied for and a caveat lodged.

This course was decided on, and the bankrupt agreed to oarry on the property and mail contract in the meantime, the return from these sources to go as remuneration.