WAIAI CU-OPERATIVE STORES.

Te Aroha News, Volume XXVII, Issue 43118, 25 July 1907, Page 4

WAIAI CU-OPERATIVE STORES.

MEETING OP CREDITORS. A meeting of creditors in, connection with the Waihi Workers’ Cooperative Stores was held, in the office of the official assignee (Mr E. Gerard) 25 creditors being present, Mr Gerard explained that lie; had not, received proofs of all claims, but, taking the figures as lie was able to ascei tain them from the books of the company, the result- was that-, if the £714 book debts realised £2OO, there would be a dividend available to the creditors of something like 13s 4d in

the £, The stock-in-trade,, plant, etc., had been soldi and some of the book debts collected Wliat, the meeting had to consider was a number of -—eferential claims incurred by the creditors prior to the time he was appointed provisional official liquidator. 'The total amount was £177, and he would) op-nose some of the claims;, hut, it was the business of the creditors to vote away tho money if they saw fit to do so. Tho liquidation had to- all intents and purposes being finished. The meeting then considered each of the preferential claims lodged, some being approved 1 , and others referred to the official assignee for final settlement. Air Gerard mentioned that the costs of the petitioning creditors as counsel fees were £73 Is sd, and total legal expenses in the liquidation 4would amount to about, £IOO. It was reported; that the late manager of the company (Mr Bovd) had not drawn, his wages for several weeks prior to his death, and the official assignee was instructed to pay to the widow what amount is due. •