In Bankruptcy.

Southland Times, Issue 9415, 13 January 1887, Page 2

In Bankruptcy.

Wednesday, 12th Jantjaby.

IN RE STEPHEN BURGEBB, HOTEL-

KBEPER, BITERTON. ' A meeting of creditors in this estate was held in the Courthouse, The Djeputy^ Assignee presided, Mr Anderson appeared for the debtor*and Mr B rod rick for Messrs , ■Whittingham Bros, and Ids tone. — Th« debtor's statement showed his liabilities to be L2BB 19s 3d (of which LBO wag due to a secured creditor), .and the •seete,. secured to the extent of LBO, were valued »t L 257 lOe, the apparent deficit therefore hieing L3l 9s 3d. The secured creditor was F. P. O'Reilly (secured by bill' of sale over furniture in hotel valued at LI 21), L 80» The principal unsecured creditors "were :— Whittingham Bros, and Tinstone, L 9 9; Surman and Co., L4O ; JvT. Martin, L 25 ; N.Z.L. and M. Agency Co, LIO. The u«-: secured asset* were statedto be as follows: - —Stock-in-trade, L 25 ; book debts- esti mated to produce, ! LB2; surplus from securities, L 67 ; and cash in hand, L 3 10?, The Deputy- Assignee said that the furniture had been valued by Mr J. ft. Millar at LI 15, but that amount would .be absorbed by Mr O'Keilly's secured claim and Messrs Whittingham Bros, and InstoneV claim for rent. The stock was worth about LlO, which, with the book debts, ; was all that would be available for the uasecured creditors. He estimated, that there would be about LSO to* pay L 19 549* 3d. The debtor, examined on oath by Mr Brodrick, said that he bad been forced to file through bud times and a good deal of trouble. The New Zealand L. and' M. i Agency Co. pressed him for the payment of the rent of some land he leased, and one of his reasons for filing was to get rid of the lease. He went into the hotel three years and a half ago, and had then LSO and furniture of hig own worth LlO or

LI 2. Other furniture was pat in which cost about L 230. None of the furniture bad since been token away. The majority; of the goods for which Whittinghom Bros and Instone claimed had been obtained in December, and during that month be paid L4O to the firm named and L 6 17a to the Bank of New Zealand. He had had some property in South Rivertbn, but Be had sold it to a man named Smith. The Building Society afterwards got the pioperty and sold it to his (debtor's) brother. He had got the LBO from Mr O'Reilly about fonr months ago. By Mr Anderson : The hotel had been in bis own hands for three years, and daring that time he had paid L 2325 to Whittingham Brothers and lustone. The rent paid to that firm had been Ll3 per month, and they would not reduce it Slthough repeated applications had been made to them. His takings daring the Christmas holidays had not amounted to more than Ll2. The Deputy- Assignee thought the case was one which should come before his: Honour Judge Broad, and the debtor would therefore be publicly examined at the sitting of the District Court on the 22 ad inst.