MEETING OF CREDITORS.

Otago Witness, Issue 3442, 2 March 1920, Page 8

MEETING OF CREDITORS.

j A meeting of creditors in the bankrupt estate of John Murtagh (Gore) was held on the 23rd ult. in the official assignee's office,'Mr F. Young presiding. i Mr F. Z. Moore appeared for bankrupt. I The unsecured creditors comprised Bing, Harris, and Co., £146; Thomson aiad Go. (Invercargill), £104; P. Hayman and Co., £7l; John Edmond (Invercargill).. £2B; Partridge and Co., £24-; Sargood_, Son, and Ewen, £24; —total unsecured creditors, £413. Bankrupt's assets ware given as £l2O stock-in-trade, £2O book debts, and £l2 cash in hand;—total assets, £152. This left a deficiency of £261. ' Bankrupt, in a written 1 statement, said he started in business as a tobacconist and hairdresser in December. 1918, putting into the business £l5O. He had trouble with his assistants. One he dismissed, and the other left and started in opposition to him. He j (bankrupt) had lost his. right arm, and ho \ was unable to keep books. It was nofT till some of his creditors pressed him that he realised the state of his affairsi. _ To ! supplement the earnings from the business he went out droving, leaving an assistant in charge. This assistant had arranged to buy the business for £250, but unfortunately the shop was pulled down at threa days' notice. This spoilt his business, as he had |to shift into a back room. When this hap- ; pened the assistant changed his mind about buying the business. Mr Moore said that it had been suggested that bankrupt had lost money through gambling, and he asked him if there was any truth in this suggestion. ■ Bankrupt: I have never sat at a gambling i table in my life. I Mr Moore: Did you go in for racing?— ■ No. I have had 10s on a horse at the trota ' at Gore, but I have not been at a meeting for some time. The assistants went in for racing. The only money I have now is £l2, and I could not pay 10s in the pound. I Mr Moore said the only course open to j the assignee if the creditors did not pass 1 a resolution was to proceed against the . bankrupt in the criminal court for failing j to keep proper books. I I Mr Benson moved that the bankrupt be I given a month in which to make a cash offer of 7s 6d in the pound. j Mr Ashcroft seconded the motion, and it j was carried.^ ' The meeting was then adjourned for a ! month. s