Meetings of Creditors

Southland Times, Issue 9164, 13 March 1886, Page 3

Meetings of Creditors

Thurbday, 11th March. IN BE ROBERT AICKBN, FABMKR, FORBST HILL. The creditors of this bankrupt met in the Buprtme Court this day, the Deputy-Assignee presiding. The bankrupt put in a statement, showing his Jiabilitits to be L 134 Bs, and bis assets Ll3O. The principal creditbis were— C. D. Moore and ;Ci>.,L66 ; IX Mcteod and Oo.j Ll7 ; W. Baxter, L22 16s ; T. McLean L7, The balance was' divided into six ■mailer sums. The assets stated were eleven cattle, LIG ; three horses, L3O ; implements, L34j and 40 acres of oais, LSO. The bank- \ rupt admitted he had not been presied by any creditor, and bad filed without consulting th- m. It might have been better had he gone round and teen them, but he had thought this the proper course, ; He wa? io bad health and could net do anything with He had a few other assets not in his schedule, such as half an acre of potatoes, the same of turnips and ; some small things about the nonse. His farm wan a deferred^ payment section, on which he had paid two instalments, He did not intend to part with his interest in that for the benefit of his creditors. He dW- not tbink the'Governmerit would fallow him .to do so. He came here three years ago from Canterbury and brought ■ome hundreds of pounds with him which waa ■nnk in his farm and spenlin living. He would ': not part with bis interest in his farm for less than L2OO. He was still owner of 160 acres in ,'Oaiiterbury, which was l«t, but it was mortgaged and it took the rent to pay the interest. Several creditors spoke in severe terms of the bankrupt's conduct in,fiiing when he was -.perfectly solvent if he jiked, and characteriied his action as a method of get* ting rid of his debt*, and retaining his principal asset for himself . Several «barp passages at arms between Mr D,^ MoLeod^and Mr O'Reilly — who ap« pe^tted for vbe ; debtor — took place on theformer's remarking that the debtor would have shown a better spirit bad he consulted with bit creditors and made an effort' to pay them instea J of giving L2O or L 25 to a lawyer to put himiihrougjh. Mr O'Reilly assured Mr MoXeod the lawyer had not. got 20 pence, nor was likely to, audthe latter expressed his pleature' at learning the profession had become so g«nerou«. . . - After a very lengthy examination the Depu'y* Assignee siid it was evident the debtor- coul i pay 40s in the £ if he chose, bot the law with regard to« deferred payment land put his incsV valuable asset beyond the reach of hU creditors. All that could be .done, would-be to ( realue on the declared •wets and make enquiries about the land in Canterbury. The debtor said if that could be sold to give a surplus ov«r the mortgage he would be glad of it; but he had tried and had failed to get an offer for the land that Wonld dear ittelt. The meeting then adjourned, jy : re WM. G VRTHWAITE, STOBBKESPiiiR, ISVJSROABaiLL. Mr Matthews appeared for the bankrupt > whete statement showed the liabilities to be L 33? 8a lid, and the assets LBo— consisting of LSO worth of 'stock-in-trade, »nd bookdebtS;good:.for 1 30. The debtor said he begun - the groc^rv business about 1-t months ago, when ' he had L2O in ca«h, but owed about L6O at the time, being debts he had incurred wbila fn ill health after leaving the hotel. After opening shop, theee accounts hsd been paid by goods supplied to tbe parties. He attributed his deficiency to his expenses being too heavy.; for, the trade be was doing, although he bad used the most rigid economy in every way. None of his creditois had any security, Rod he had no other property besides that pat down; in the schedule- His principal creditors were— J. Stock and Co., LSB ; Borutton and Co , LSO ; Whittingham Bros, and luitone, L2B j W, Todd, L 2 7;. H. Jiggers, LI 8 ; Chejne and Thompson, LI 7 ; MoVicker and Co., Ll6 ; Saundera, LI 6 ; Harvey, Lll j H Bainea, L 1 0; aad twentylour others with sums under LlO. The Deputy Assignee said he had taken possesiipa ofthe a«BGts, and all that could be done was to resliae upon them,