HEAVY LIABILITIES.

Sun (Christchurch), Volume IV, Issue 1066, 12 July 1917, Page 8

HEAVY LIABILITIES.

THE CRADDOCK BANKRUPTCY. f DEFICIT OF OVER £14,000. ’ An approximate statement of the ’ liabilities and assets of Alfred Ernest ] Craddock, auctioneer and land agent, : of Christchurch, who tiled a petition ' in bankruptcy last week, was placed | in the hands of the Otlieial Assignee ’! yesterday afternoon. This showed | the amount of debts due to secured • creditors to be .1*3972, and to un- • I secured creditors £17,084 15/1, a total | of £21.05(1 15/1. There is, however, Man estimated surplus of £528 from 1 the securities in the hands of secured ■; creditors. r J’hc net assets are esti3«mated to produce £3OOB, leaving a 1 deficit of £14,070 15/1 in the unsccur- ■ ed creditors’ account. j In a statement accompanying the 'I list of liabilities and assets, ’the bankrupt stated that since ■|ho filed his petition he had * 1 been engaged in going into Ehis assets and liabilities with an , I accountant appointed by the Official U Assignee, and at the present time it ! was impossible to file an accurate I j statement of his position. Various i j items returned by him as debts to null secured creditors would require in--1 vesligation by an accountant to as--1 certain if they were due by him. It is hoped that this investigation - will result in a clear statement of the - position being made at the first meet- ; ing of creditors, which is to he held ’ on July 18. A summary of the approximate - statement was published in the last -! edition of The Sim yesterday. The • full statement is as follows: 1 BALANCE-SHEET. Pr. . Unseen red creditors . . £17,081 15 1 ; I Secured creditors .. .. £.‘’o72 | Less estimated value of • 1 securities 4500 ■ Surplus to contra .. .. 528 | Total liabilities .. .. £17,084 15 1 ! Cr. Book debts, £lll7, estimated to ‘ I produce £7OO. 0 0 1 Furniture 1000 0 0 . Property 780 0 0 . j Surplus from securities in bands I of secured creditors 528 0 0 I j Total assets £BOOB 0 0 ; REAL ESTATE. 1 The following is a statement of the j ’estimated value of the real estate:— Section at Sumner, purchased from Belle Vue Instate for £BOO £IOO 0 0 • i Section, Ascot subdivision. New ; Brighton - 55 0 0 I Section, North Avon Road, Richmond 50 0 0 i Fifty shares in Premier Picture ,j Company, New Brighton .. .. 50 0 0 | j Equity in property, Tancrod ! Street, Lin wood 100 0 0 - ! Equities in property taken over ; 1 iiy Craddock, McCrostie, Ltd. .. 400 0 0 . Equity in Mrs Tree’s property .. 25 0 0 Total £7BO 0 0 | The following items cannot at present be estimated:— ‘ ! Equity in property, George Street, New ' j Brighton. ■ j Surplus from assets assigned to Stewart land McCrostie. as liquidators of the linn of i Craddock and McCrostie. : | SECURED CREDITORS. | The list of secured creditors is as 1 follows; Bowden’s Trust, c/o Gould, Beaumont, and Co., first mortgage over “Woodehester,” estimated value of security £ISOO, amount of debt £3IOO. interest £72. l L. C. Gardiner, c/o Lane and Neavc, ■ second mortgage over “Woodehester,” amount of dejit £ISOO. ■ Total value of the “Woodehester” security . £ISOO. total amount of debt £8972. L. C. Gardiner, c/o Lane and Neave, lull of sale over furniture at “Woodehester,” collateral with mortgage (actual position 1 not ascertained). , C. IMcCrostie and J. M. Stewart, as assignees under a deed of assignment of all the assets of A. E. Craddock and the firm of Craddock, McCrostie, for the purpose of ' winding up the, old linn, and liquidating the ■ liabilities. No figures are supplied with tliis item. The firm of Craddock, McCrostie ' was in existence before the present firm of i Craddock, McCrostie Co., Ltd., was formed. I■ NS ECU HE!) CR ED ITORS. The approximate list of unsecured I creditors is as follows, the creditors . being in Christchurch except where otherwise stated:— 1 Mrs J. Oliver, Shirley £8.20!) 0 0 1 Rev. W. Oliver, Shirley .. .. fill!) 0 0 W. ,T. Roberts 7,100 0 0 Mrs Otway, I’ntoka 8110 0 fi ■ Yorke’s Estate, c/o A. ,T. Mailey 40!) 0 0 Quinn's Estate, e/o A. ,T. Mailey 801) 0 0 ’ French's Estate, c/o W. J. French, Sydenham 750 0 0 A J. Hutchison, e/o C. S. > Thomas, Christchurch .. .. 1,700 0 0 , Booker’s Estate, c/o Garrick and , Co., Christchurch 100 0 0 Waisli’s Estate, c/o 11. Hainhleton, Creymouth 29 17 fi > A M. Dumhell. Featherstoii Ter- . race, Wellington 221 10 0 W. 1). Pomliell. Featherstoii Terj race, Wellington 20(5 10 0 • Miss Wallace, Canon Street, St. • A ilia ns 354 5 0 ■ ,T. Ballantyne and Co., drapers 255 10 7 ; A. J. While, Ltd., furnishers .. 84 10 1 ' W. Sey and Suns, decorators . . 80 0 0 Gould, Beaumont, & Co., agents 72 10 0 Kincaids, Ltd., grocers .. .. 718 5 W. Jones, nurseryman 10 0 A. Hampton, contractor .. .. 10 1! 0 William Irving, surgeon .. .. 17 7 0 ■ North Canterbury Hospital Board 3 3 0 ; Wilford, Levi, and Jackson, soii- ’ citors, Wellington 22 0 ' Lane and Neave, solicitors .. .. 18 0 0 Benjamin Perry, hole! proprietor 1 0 0 . N’.Z. Farmers’ Co-operative Assn. 2 17 0 Quill, Morris, and Co., Ltd., spirit merchants 0 4 0 John Thornton. Ltd., bootmakers 5 !) 11 ’ T. S. Weston and Son. solicitors 7 11 0 Ward and Co., Ltd., brewers .. 12 0 ■ J. S. Atkinson, dentist 3 18 0 ■ D.1.C., Ltd., drapers 20 5 11 , F. H. Steel, butcher 0 7 1) . Wbitcombc and, Tombs, Ltd., • stationers 2 4 7 • Kerr and Barnett, nurserymen 1 10 0 . Franks. Hunter, and Lyon .. .. 013 0 ' Halberts, Ltd., mercers .. .. 0 210 • M. !■', Dr !.a Cour, motor mech. 0 10 0 - J. 1). Watson, storekeeper, Sumner 0 0 0 Johnson A Couzins, tent makers 0 1 I Ileatli and Co., drapers .. .. 17 1 11 Total unsecured creditors £17,084 15 1 ) OTHER ACCOUNTS. The following arc persons to whom are owing accounts the position of 1 which was not ascertainable: — W. F. A. Andrews, Sydenham; J. Pukes, - ir,<) Wordsworth Sirort, Sydenham; G, Galj higher, 08 Fisher Street, Beckenham; J. S. I Peterson, 25ft Wilson’s Road, Sydenham; H. 1 S. Johns, 30 Queen Street, Sydenham; E. ‘ Adkins, 50 Hume Street, Sydenham; A. J. j Voice, Templeton; Miss Weill), Staninorc I Road, Linwood.