A GREAT BANKRUPTCY.

Poverty Bay Herald, Volume XIV, Issue 4772, 25 January 1887, Page 2

A GREAT BANKRUPTCY.

Wirbmu Paiuone (Wi Brown), the wellknown Maori settler, filed his schedule in bankruptcy to-day, the formal notice appearing elsewhere. He sets down his total liabilities at £2988 11s 8d—£2338 lls 8d unsecured and £(>SO secured, estimating the value of the security at £350 more than what it is security for. The assets (all property) is set down at £7614, and this includes the £350 surplus alluded to —surplus, £4025 8s 4d. His debts are set down thus : —

•In reference to this amount the following note is appended :—" The sum of £280 odd is disputed by the debtor as he was induced to endorse bills for about this amount for Willoughby Brassey, of Gisborne, and it was known to the manager of the Bank that such bills were accommodation bills." In reference to his property the debtor has filed the following :— Life interest in Makauri, Taruheru and Tahoka blocks, situate in Poverty Bay. In reference to the above blocks the debtor conveyed his shares in the year 1877 to a trustee for the benefit of his children, reserving to himself a life interest. About two years ago he was induced to execute certain deeds to Mr i Percival Barker conveying his interests in such blocks, but the debtor alleges that the said deeds were obtained from him through fraud and misrepresentation. No Trust Commissioner's certificate has been affixed to Mr Barker's deeds. A lease of Poututu Blocks, £3500. In J reference to this block the debtor alleges that he obtained from the natives a lease of this block and entered into negotiation with Mr Barker for the sale of such lease to him. The debtor signed all documents placed before him by Mr Barker aud on investigation it may appear that he has not received any consideration whatever for his lease of tho said block which should be worth £3000 at the very leasL The lease is in debtor's name, but Mr Barker has not, although he occupios, paid any rent to the lessor. Two sections in Gisborno subject to a mortgage tf> the Hospital Trustees for £200 and interest, £150. 2200 sheep (mortgaged to tho Bank of New Zealand to securo £400) £(500. J. R. Hurrey has received large sums of money from me of which he has given me no account, £3000. Five head of cattloand twohorses, £14. Total, £72(34.

SECURED. Bank of New Zealand ... £400 0 0 Hospital Trustees 250 0 0 £650 0 0 UNaKCORED. Win, Adair £180 10 0 *Bank of New Zealand ... 280 11 8 Ward and Cress well ... 250 0 0 E. K. Grown 27 0 0 A. Keefer 75 0 0 M. Macdonald 19 15 0 J.Craig 95 0 0 J. East 16 0 0 J. Townley 17 0 0 Teat and Friar 17 0 0 Wm. Cooper 600 0 0 H. J. Finn 50 0 0 J. Wallace 19 0 0 R. Colebrook 4 0 0 Hatton and Score 7 0 0 O. Hubble 18 0 0 — Reid 15 0 0 — Pitcher 19 0 0 W. H. Tucker 700 0 0 £2338 11 8