CREDITORS MEETING.

Patea Mail, Volume IX, Issue 1103, 24 October 1883, Page 2

CREDITORS MEETING.

- A meeting of creditors in the estate of Jesse Saunders Adams, of Hawera, was held in the Courthouse on Monday last. There were present Messrs R. A, Adams, G. T, Potto, and R. C. Tennent (proxy Sclnnders and, Co.) On the motion of Mr Tennent Mr Adams was elected Chairman. Mr Hamerton, solicitor for the debtor read the deed of assignment filed, and the statement of assets and liabilities as follow : Assets—Stock-in-Trade of General Outfitter, Silk Mercer, Haberdasher, Draper, etc., £1400; Book debts good, £l5O, bad, £IOO, £250; Household furniture, £3O; Horses, £6. Total, £1686. Liabilities—Landlord for rent, L 32 10s ; R. A. Adams, LGSO 4s ; Sclanders and Co., Nelson, L 322 4s lid ; G. T. Potto, L3OO ; Kaiapoi Woollen Manufacturing Co., Christchurch, L 224 0s 6d; Harcourt and Co., Wellington, L 137 16s 7d ; McArthur and Co., Auckland, LlOl 8s 5d ; Nathan and Co., Wellington, L7B 3s 5d ; Turnbull, Smith, and Co., do, L 73 14s 2d; Kirkcaldie and Stains, do, L 67 8s; Whiitem and Nicholson, do, L6l 18s 3d; Messrs Clark and Sons, Auckland, L6O 17s 3d ; Sargood, Son, and Ewen, do., L 39 11s 3d; Nathan and Co., do, 1

L 35 6s 8d ; R. Burred, Wellington, L 7 15s; R. J. Slonuo, L 7 4s; Ehorle Schnotyinger, L 6 10s 31. Totnl L 2206 Us 84. ’ Tho debtor, examined by Mr Tennent, through tho Chairman, os to the causes of his failure, said he attributed them to bad times and bad debts. He stated that tho total amount due to tho Bank of Australasia wac, whence filed, £304 5s 10d, as appeared by \he bank book produced. His bondsman had nil along been unsecured. His tank-book showed all payments and receipts since 13th June. £390 had been received, He had not inadvertently sent away any goods recently. A few days before ho assigned some goods were sent down to Mr G. T. Potto. They had been bought by him ns a part security for his cash credit bond. They would come out of the amount due on the bond. He calculated them worth £l2O at selling prices, and kept a record of them, but had not given Mr Potto an account yet. In reply to the Chairman the debtor said :—“ Yon never asked me for any security, but you have refused to accept any.” It was resolved on the motion of Mr Tennent, seconded by Mr Potto “'That the deed of assignment J. S. Adams to R. A. Adams and Janies Sclandors as read be confirmed.” Mr Tennent asked if any offer would bo made for the estate, as ho was instructed to consider one if made and of a reasonable amount. After some discussion hail taken place, Mr R. A, Adams stated lie was prepared to offer 7s 6 ! in the £ to each creditor on the amount of his proved admitted claim. The meeting then adjourned.