A BANKRUPT DISAPPEARS

Otago Witness, Issue 3511, 28 June 1921, Page 43

A BANKRUPT DISAPPEARS

HEAVY LIABILITIES LEFT. A meeting of the creditors of Harry Kneweli. of Dunedin, importer, a bankrupt, was held at the Official Assignee’s officeon Friday morning. Over a score or creditors were present in person or represented by solicitors, and Mr W. W. Samson, Official Assignee, presided. Mr Samson said that as the bankrupt was not hero they had no statement from him. Messrs Moore, Moore, and Niehol, however, had prepared the following statement: —"Wo regret that we arc unable to give you anything like a statement of this man’s position. As far as we know his books were kept by Air Sykes, who was supplied by Kneweli with some, but by no means full, information as to his dealings, and we think his books will not disclose his true position. We gather that there are tiie following assets:—Stock in premises in Bath street, book debts, two motor cars in J. and A. P. Scott’s garage, shares in a company in Invercargill, and machinery in Im.creargill. Mr Brascli has done seme work for the bankrupt, and could no doubt assist you in winding up the estate.” As a matter of fact Messrs Park, Reynolds had tho previous day submitted to auction, under instructions from Airs Kneweli, the property which he was claiming on behalf of the estate. The house itself was not sold, but the furniture brought £2B-9. He had had the house and furniture valued, and he did not think the estate was likely to lose anything in regard to that. Tho stock at the premises in Bath street was valued at not less than £2OO. and consisted chiefly of sparking plugs and of 24 engines known as half-horse engines. Mr Sykes would tali them more, about the books. Air Sykes had a claim of £ls, and he did not feel like handing the books over til! that amount was guaranteed a-s preferential. He thought Air Sykes should be paid in full. There wore two cars, a Krit and a Rover, about which he had written to Invercargill for particulars. He did not know what the value of the shares in Invercargill might bo. The following proved creditors -were represented:—Messrs Laidiaw and Gray £3500; H. L. Gallium £2lB 12s lOd ; Hayward and Garrett. £llO 14s : North Otago Times. £97 6s; A. M’Leod. £SO 14s 3d; J. and A. P. Scott. £45 8s: J. Rattray and Son, £l7 ss; W Harris and Son, £8 1 4s fid: Crust and Crust, £2 15s; Turnbull and Jone«. £1 3s 4d. Claims were made by the following additional creditors: —Buick Sales (Christchurch) , £47 4s Id: Dunedin and Suburban Coal Company, £24 8s; Jones and Reeve, £6 14s; Inamrahua Times. £ls: Alatanra Ensign. £77 10s; Mills, ])V-k. £3 1.3 s 4d; South British Insurance. £6; S. R. Sted-m-m. £6; Timaru Post, £75; Commissioner of Taxes, £44 14? 7d; Turnbull and Jones (Wellington), £124: J. Braid. 16s 6d: Tyrrell and Co.. 12? 6d : IT. Inglia. £lO 12s 6d: New Zealand Dairyman, £45; AI. N. Hyndinan (Invercargill), £lO 13s 9d; FI Wilkinson; Berth and Co (Christchurch). £24 2s Id: Westport- Times. £l2 10s; IT. 11. Kvkes. £ls 2s Pd: Maude Bros, (Oamaru). £B4 7s 8d ; Tf. C. Ocltli and Co. (Wvndb m . £130: 11. !’- - Wakutipu A Tail, £l6 2s fid: L. C. Alitchell (Palmerston Xmlh), £ll ss; C. A. Pel cm (Palmerston North), £25; British Electrical Engineering Company (Dunedin): William Frazer (Auckland); W. J. B. 11 (Dunedin); Teazle. Smith, and Sons (Wellington). £l2 16s 4il; Dr Ritchie, £26 12s. Air Scolt said he estimated that (he Rover car might bring £4O and the Krit £l5O. The Assignee: According to the statement. read the liabilities total £4781 11s lid. Mr Dawson (Rattray and Mon’: 3nd about another £6OO or £7O-0 lias to go to that. Air Moore: You can easilv put on another £IOO3. A number of creditors have not yet put. in their proof. The Assignee: Tn regard to “ ever ready batteries” sold on an eighteen months’ guarantee, tbeiy are coming Irnek, and there are no 'batteries to replace them. There may be a claim f- r damages against the estate. I have impounded the money in the hands of Park, Reynolds in the meantime. There is tho question of whether the bankrupt should not be brought back. At present uo don’t know where he ia. Mr Moore : He ban not been about bis premises since Foster, and on the 19ih cf May he wrote a letter to his wife tilling her that ho was going away. In the leiilt-r

he tliat his nerves had completely got him down, aud ho could not stand tiio strain any longer, lie owed a lot of money, and could not pay, and was off. The letter was written on Warner’s Hotel notcypaper (Christchurch), and was posted at Wellington a day or two later. No one had seen him since. Mrs Kneweli read it to Air Braseh and Mr Griffin some tirno afterwards, and it was on that that bankruptcy 'proceedings were started. He had got Mr tiykos to look into the position, and had guaranteed him payment on behalf of his (Air Mooro s) own clients, and he trusted that all the creditors would be willing to share in ihat expense. The Assignee: It is practically wages. On the motion of Mr Griffin, seconded by Air Grey, it was decided to pay Mr Bykc* his fee. In answer to a question, Mr Sykes said he could not say what the book debts were likely to produce. The last heard from l#mkrupt was at Easter time. For over a month Air Kneweli hod not given him any account of cash collected. Ha was afraid that even the amounts in the books were far. from correct. There was a matter of £3OOO on the books, but he would not guarantee it. 'I he Assignee: 1 understand he went round personally and incd to colloct these amounts. Air Grey: He disclosed a statement to us that) about £4300 was owing in book debts. Air Sykes: There is one debt on tho books of £4OO, but I don’t think it is worth 400 iience. The Assignee: There is the question of the house and furniture. I have claimed that on behalf of the estate, and it is for the creditors to confirm that action or otherwise. I understand that Airs Kneweli has not sold all the stuff. She is taking blankets and certain other goods, and it does not 10-ok as if she were goinjj very far. The house is worth about £IOSO, and there is about £B-00 owing on mortgage. The furniture already sold lias realised £2BO gross, and there is more to be sold Air Moore said he thought it would bo best to leave the matter in (ho hands of (ho Assignee to take whatever action he thought fit. They did not want to be bard on Airs Kneweli if she was not acting in conjunction with her husband. Mr dykes :.-aiJ that Airs Kneweli had given every assistance. . 6?ho had told him that she had no idea where bankrupt had gone to, and did not know what she was going to do herself. A creditor said that bankrupt had tel. 1 him lie was going- away to form a company with £50,009 capital. In a moment of weakness he gave Kneweli a letter of introduction to a Wellington firm, and he lot the firm in for £134. Air Moore: He was trying to form a company all right. Air Sykes: He told me he had- £9OOO promised. Air Gray said that bankrupt was forming the company all right. He showed him a book with the names of nine men who had promised him £I3OO each. Mr Sykes said that bankrupt made a good profit last year; he sold a lot of stuff. Mr Dawson: Evidently ho told tho Comin'? donor of Taxes the some tiling, seeing that he owes him £44. Mr Gray: There is no doubt he did well; but 1 did not think ho l.ad the liabilities he has. Mr Gallian asked if the bankrupt had done any criminal acts that would bring him within the reach of the l;:>v. The Assignee said that the mere fact of absconding with intent to defeat his creditors was a criminal act. It was decided that tile question of tho house and furniture be left in the hands of the assignee to deal with in the best way possible. The Assignee said that the stork on tho premises in Bath street consisted of 58 bottles of disinfectants —(A Creditor: My stock!) —sparking plugs,'' engines, battery boxes, electric fittings, carbide, powders, oil. etc. Air Dawson moved that the small articles be disposed of without delay, a nd that the engines be put in the hands of someone in the trade to sell as opportunity offered. The motion was carried. It was also agreed that it be left in the hands of the assignee to realise on the remaining assets and to collect the book debts. Mr Sykes said there were another two ear; about which perhaps he could help the assignee. The Assignee : Now there is the question of bringing the bankrupt back. T don’t know whether the creditors would like to spend any rea ly money in bringing him back. Tf he has gone to America it would mean a lot of money; but. of e<v.-rse. if he is not far from Dunedin it ■ t cost much. Alr Hanlon: I think yon ought to bring him back. Tt will be •« .mb for somebody to defend him. — (T.auuhler.) Ah- Gruv • F think some inquiries might be made a? to where he i? Finely to be. 33*e or uld pel haps find out whether he has left the country. Some information mignt be got from tho passport ofiiein!?. Tho Assignee: T am endeavouring to got information. Tn the iido-o?!? of commercial morality ho should ooif-dnlv lo brought back: but the trouble is v.-c don’t, know where he is. 3 creditor remarked tFat if there was likeliho-.d of t'io lwinl.-r-.mt goili' g 14 years he would wilh’n'.dv rav “his whack,” and the meeting disbanded.