BANKRUPTCY.

Poverty Bay Herald, Volume XXVI, Issue 8700, 20 December 1899, Page 4

BANKRUPTCY.

J. C. DUN LOP'S ESTATE. Ik his Btatement~before the Deputy Assignee, James Charles Dunlop, land ' agent, of Gisborne, states :-• My bunness career in Gisborne began about ISB2 when I assisted to start the business of Graham Pitt, and Bennett, general merctnts and I'rcmained with the .firm for about ei^ht years. During that time 1 had the "right to carry on business on my own account, and I started and carried on with Mr P. H. Bourke aa n partner the firm of Dunlop and Bourke, as wine and spirit merchants, shipping and general scents. Mr Bourke and- 1 also carried ou the business of the Masonic Hotel in conjunction with Mr J. A. Harding. In all these ventures I was successful, and made a fair amount of money. In 1892 Mr Bourke wished to retire from the business altogether, and I bought his interest out in the partnerships. About this time I was induced by Messrs Barker and Adair to associate myself with them by the former promising large support. I agreed to take part of Adair's premises an! join together my own business with hid (drapery excented) and that of the Farmer/ Association (then a small company), and form one company of the whole! From the very outset I had dimonlties to face as far as this amalgamation ' was concerned. Mr Barker refused to put more than half the amount he bad proraised into the company, and 1 found that the Farmers' Association was bankrupt, although the directors had agreed by deed to hand it over in a solvent condition. Things had gone too far for me to retreat without considerable loss and inconvenience, so I determined to go on, and paid the creditors of the Farmers' Association 20s in the £, and I succeeded in putting the amalgamated company upon a good footing, and there was every prospect of it beint? a successful concern. It continued to go ahead, or at all events, more than hold its own, until Messrs Barker, Hall, and Harding, as directors of the Company, . and Mr Adair, a shareholder, differed from -me with regard to matters affecting the "interests of the Company and also outside - the Company. Theytookproceedingsnomi- • nally against the Company, but virtually aeainstme.withtheresultthatthe Company Was forced into liquidation, and I lost all I possessed, something like £4000. Itwaaen- ■' tirely to their action that I owe my present position. The immediate! and present * cause that foroed me to file was the action of the Napier High School Boarc in issuing an exeoation against me. I had • offered to pay part of my indebtedness to "V-thißoard at once and the balance later on, ;: 'but this was refused. After the-Company • -V-WaS' wrecked, I endeavored to start business in Gisborne, but was unable to do so, and so went to Napier, but as I could do nothing there, nor get employment, I returned to Gisborne. More than halt ot '^ihy present indebtedness is owiug to the failure of the Farmers' Association. I had hoped to pay all my creditors in full, and tried to complete an agreement, but could " not get all creditors to sign it. In regard J t6my : having contested the East Coast ' seat, I did so because funds were pro- ' vided, and promises made to assist me m " the payment of my debt* if I were success- : ful. There was only one candidate in the ; fieid when I decided to stand. My ;'■ bankruptcy is not in anjr way attributable'to my .action in this connection, v My liabilities amount to £595 5s 7d, and > '. the assets (half share in the freehold of 140 '•*■' acres at' Mongonui, valued at £140, in ,--■ vwhioh MrP.fi. Bburke held half share) "'■'• * alb £10. The Gisborne creditors are : W. " -/•(Sod £33 9s, McConnell and Co. £21 ss, / 'Adair Bros. £20 3a 9d, J. Townley £17 13s ; : id, Clayton and Co. £13 16s 9d, W. Pettie '■ £908 7d, W. O. Skeet £11 6s, T. Adams : ' £10 0s Bd, Kennedy and Evans £8 Is 4rt, : .J. S.- Allan £6 Bs, D. J. Barry £5 2s, ; *VtE,'.D. Bmith £5 Is, Gisborne Gas Co. £4 : list & Johnston and Co. £4 10s, B. Hird '■■'''"*s& 18s 10d,_ Estate Henry Lewis £1 14s '2di ; T.:O: Webb £3 3s, Dr Craig £2 12s : '• Bd, H. Bull and Son £2 8s 3d, Humphreys ■'•'"-'••■anoD'avys £2 13s 6d, Primrose and Leslie j ■>:-£3" 3s 6d, Gep. Foster, (ohemist) £2, A. =; : .(Sawyer "£l 6s, J. Sigley £1 7s 9d, N.Z. T 1 Clothing- Factory £1 4slod, Shorthand classes' £l los, J. R» Redstone£l Is, Jones and Wilkinson £1, Dr Hughes £1 16s, B . 'a: Cox £8 3a lid, J. A. Harding £72 10s .Bd,E. Bailey £7, A. 8.. Muir £12, F. S. ; Desßarrea £1 14«, H. Wilkinson 17s, J. ■ ■ MoKee £2 2s, J. Brodie £3 3s, W. Adair £4; J. Pbnsfbrd (rent) £12, W. and S. Btrong (Dundee, merchants) £225, H. B. '--. 'Shaoklock (Dunedin) £4 14s, Mercantile "'"• : Gazette £2 25, . Napier creditors : Conroy vend Co. £4 6s Bd, Thorpand Co. £2 Is 7d, ■ O.:Dolbel and Co. 18s, High School Board r £15 7s, R.- Condon £3, A. H. Wilson 9s ' lid, 8. McLernoh £1 3s 6d, J. P. Thomson i £3 6s, A. J, Wilson 16s, W. Timperley ' ■'- (Wairoa) £3 6s, Gisborne High Sohool £2 2s ; total £595 5s 7d. The first meeting of , creditors will be held on Friday afternoon next at half past two.