THE BANKRUPT GREENE.

Poverty Bay Herald, Volume XII, Issue 4181, 5 January 1885, Page 2

THE BANKRUPT GREENE.

♦ • CREDITORS' MEETING TO-DAY.

A meeting of W. S. Greene's creditors was held this morning. The Assignee said they met for the debtor to make an offer. The debtor said since last meeting he had carefully looked into his affairs and found ho would be able to make an offer of 7s Od in the £, 2s 6d cash and 5s covering 12 months. With reference to Mr Hurrey's account he only owed £5, and not £10. Mr Hurrey had agreed to take two cows for the account, and it was his own fault if he had not had his account in full. Mr Dawson also claimed £15, but he had been paid for the amount of work done. It had been stated outside that Mr Bennett had promised to pull him through. A simple answer to that would be the report, which could not have been more damaging. He considered Mr Coleman owed him £40 on the lease over the Waimata. The debtor was then put on his oath, and deposed that he had not been purchasing cattle either in his own or his son's name. Mrs Greene had 20 head of cattle ready for shipment to Auckland. The money would go towards paying the 2s (id in the £ cash. In answer to Mr Matthews, the Assignee said he could make no further remarks than what he had reported to the •Judf'o. There were no assets in the estate. Mr Finn said his opinion was that the deed of settlement was absolutely valueless, but if they wanted to set it aside they would have to provide funds. Mr Matthews said he was of opinion that the offer only meant the 2s Gd cash. Th-re was no guarantee for the other instalments. He had before stated that he would lake 10s, and he would not depart from that now. If the 7s (id was accepted the bankrupt would make a handsome thing out of the settlement. He would contribute £5 to test the settlement-. A test might be beneficial to the community. They had been pretty severely nipped, and they ought to use every means to put down the bankruptcies which were occurring. Mr Shelton said that, looking at the fact that the do ed was made 18 months ago, and tha-t the debtor was prepared to state he was quit i solvent at the time it was signed, he would propose that the debtor's offer be accepted. Mr Joyce seconded. Mr Matthews proposed that the ofter be not accepted and the Assignee test the deed of settlement. On the suggestion of Mr Shelton the debtor offered a further 2s 6d in the £ covering another six months. Mr Matthews withdrew his motion and the offer was accepted. The debtor said he thought it hard that he should have to pay £5 5s for drawing up the agreement of composition. He had had experience o f Mr Finn's charges before. Mr Finn said he did not think he had ever tlone any work for the debtor. He did not do work for such men. Debtor : £7 for preparing the Waihau transfer, which afterwards amounted to £70. Mr -Finn : You got out of paying the consideration to Captain Porter. The meeting then ended.