Meeting of Creditors.

Southland Times, Issue 4630, 14 May 1883, Page 2

Meeting of Creditors.

« _ An adjourned meeting of the creditors of Eichard Bellinger, storekeeper, Wairio," was held in the Courthouse oh Saturday. After some informal discussion, Mr J. Kingsland was voted to the chair. l . : Mr O'Reilly appea r ed for the debtor and" Mr Finn for one of the creditors. The deed. of assignment was read, the trustees named being Messrs Roope and Paisley. Mr Roope said the only thing the meeting had to consider was whether or not they would assent to the deed. Mr Finn pointed out that if the de«d were assented to the debtor would be entitled, immediately afterwards, to a clear discharge. Mr O'Reilly said that if the debtor filed, the delay and expense would be considerable, whereas under this deed the matter would be settled expeditiously, and i£ there was anything fraudulent the debtor could be prosecuted criminally. The Chairman said Mr Finn's opinion put a different face on the matter altogether, and he, for one, was not inclined to give the debtor a clean sh^et al! at once. Bellinger had been in a large way of business, had got timber, bricks, groceries, boots, &c, and yet all the assets were a j number of bad book debts — there was not I even a brick left. Mr Paisley said the debtor's statement was the most unsatisfactory he had aeen. He could only give Bellinger credit for having "done the thing this time properly." Mr O'Reilly said it would save a great deal of expense if they accepted the deed instead of forcing the debtor to file his, schedule. Mr Paisley replied that he did not care what expense might be incurred. He would rather lose the little he had a prospect of receiving than permit any man to get so easily clear of his liabilities. The debtor, in answer to Mr Paisley, stated that none of his property had lately passed out of his hands into those of his wife or any outsider. There were sections m the names of his wife and children, but thit had occurred because he could not apply for more than one section under the Village Settlement Act. Mr O'Reilly said that one of the reasons of the debtor's inability to pay his creditors was that a person in his employment had (; plundered." Against this individual a prosecution had been commenced, but was afterwards dropped. The debtor said he was at present living on a section belonging to one of his children. Tne house had been built of ti'uber received from Mr Jack, aud iron got from Messrs Paisley and Co. The Chairman said he supposed the children were wearing his boots. The debtor replied that the boots were worn out. He aold his business in January last to Mr H. Robson for £300, and paid the money to Messrs Stock and Co. The Chairman remarked that evidently the debtor had received goods from all those who were now his creditors, realised, and paid the proceeds to Messrs Stock and Co. The debtor replied that Messrs Stock and Co. were his firat creditors. Mr Roope said that at the time of the sale Bellinger owed Stock and Co. about £700, £400 being in past due bills, and it was not likely they would permit such an opportunity for securing- a portion o£ it to escape them, as wag offered when Bellinger sold out. The debtor could not exactly tell how much of the book debts he had collected since selling the business. The greater part he had collected in bills, which had been given to Messrs Sargood Son and Ewen. In cash he might have collected between £30 and £50. Mr Paisley moved that the meeting be adjourned till Monday, the 21st inst., to permit of the debtor preparing a full statement of his financial affairs from Juna, 1881, till the date of the deed. If that course were followed, Mr Paisley said, the creditors would then be in a position to judge whether or not the debtor should be asked to file a declaration of bankruptcy. The motion was carried, and the meeting adjourned till the date named.