CLERK OWES £53,433.

Rangitikei Advocate and Manawatu Argus, Volume XXXVII, Issue 10661, 2 June 1913, Page 3

CLERK OWES £53,433.

SEVEN SERVANTS ON SALARY OF £ooo A YEAR. Whilst Frederick Charles ' Gray, j late of Heatberleigh, Hsuiley Wood, Middlesex, is serving a term of ins- 1 prisonineut his creditors met at the I offices of she official receiver, Lou- j don, recently, under a receiving | order madt; in the Earnet Bankruptcy j Court. Debtor had filed a statement; I of a Hairs showing' liabilities £5-3,43y J of which £'38,21)3 is expected to rank j for dividend. There are partly secured creditors amounting to £4.0,780, tho value of their security being estimated at £2(525, leaving £38,155 to rank. There are also contingent liabilities £10750, not expected to laus, and preferential creditors £JS-1 14s G-A. Tho assets consist of £S ( .)i; j in. the bauds of the sheriff, and £llß surplus from securities held by secured creditors, together with £K)-1, which after deducting preferential claims, leaver a defiicency of £517,4(52. Debtor attributed liis failure to household and personal expenses seeing in excess of income In dealing with tho proofs the official receiver referred to one by Messrs Denuiscoun, Cross and Co., for £BO,OOO, and said lie proposed to admit it for voting purposes for £II,OOO, the specific j amount mentioned as having' breu i stolen or otherwise nonappropriated, ] From the satafceinenfo made it ap- j peared that the receiving order xva-i ! made on the petition of K. Leslie, ' Ltd.. following the seizure and wale of debtor's effects under ao execution. Debtor was previously in the employ of Messrs Dennistoua, Crops and Co. mreehants and bankers;, of the city, as clerk. At the Old Mai ley last month he was charger! with forgery and uttering forced and with unlawfully obtaining valn- ! able securities by faLe pretences, i to which charges he pleaded and \iM;i sentenced to Vo month.-;' hard labour on each indictment, the, sentence to run concurrently. Mr.s:-rs Biroham and Co., who appeared for Mosss Deunistoun, Cross and Co., in t!ie course of diHCUFskm sairl that actions were pending lor tho recovery of tho securities which hud been deposited wife creditor, hut nanny of those stolen or otherwise misappropriated had been wold, an !, being bearer bonds, con id no's bo traced. Doctor's defalcations had been going on for nine yearn. His salary was £:-:00 a year, and be appeared to have lived at the rate of £2OOO a vear, seven servants, as well as paying £2OOO interest to money - j lead era.