RE WILLIAM DEAR, a Daltor.

Colonist, Volume XXX, Issue 5026, 8 October 1887, Page 3

RE WILLIAM DEAR, a Daltor.

The first meeting of the ewditors of Wil? liara Dear, of Nelson, a bankrupt, was Leld at the Conrt House, yesterday, Mr A. A. Soaife, the Dtputy Official issignet, presiding. According to tbe lists filad. the as-ets and liabilities were as follows :— Liabilities (Unsecubkd Cbeduobs).

Deficiency, £80 133 3d. The creditor* present, sad the amount! for which they had proved, were :— Wilkios and Field (proxy Mr Ciiapboll). £114 17b; H. Baigsnt, £12 18s 4d; J. Campball, £75 3m 3d; J: Clatk, £4; Fell and Atkinson, J612 11s 10d; E, Higgias, £20 Hi 4J; W. J. Dear (proxy Mr J.,0. M. Kwsten), £18. Mr fa'caife having referred to the stats* msnta, Mr. Fell, who appaarod for the debtor, s iid there had been several meetings of tha bankrupt's creditors, at wbiah all who were then present, as well an others, wen present. Mr Djar was a*b ioUUjer, and an exealleat workman, as well as a hard-working energeuo man. After he. same to Nelsoo, the debtor'bought, certain sections of land and built upon thorn, und if ha had had a little more capital, no doubt he would hays made a handsome profit. The Hit* whiah hid previously bjen before th< creditor! paesl the properties at a considerably higher value, but three or four cf the creditors were appointed a committee to investiga'e. a id thoy reported as to the properly having frontagei to Ex-iminer and Wairuea S,n.-«ia, and in:>rlg.iged to Mra Kinjdon, Mr Oidliata, and Mr. Kingdon, that the property was eacambered to such an extent that it was impossible to do anything. He, Mr Fell, ha 1 seoa Mr Kingdon, at thj request <.f the cnumittee, and that gautiom»n"saw the situation ami would he believed take ov<.r the property. He believed by doing so Mr Kiogdoa would make something of it, for by waiting prices might be obtained. However the matter was in the hands of the assignee. The same remarks applied to section 659 as to Bection 661. Upon section Cod the debtor built a row of bouses that woald always command good rents They were mortgaged to the Building Socie'y, and also to Messrs llout & S.»na for a small amount, and also to Mi- Selanders fur £210, but Mr Sclandws had since transferred his interest to Mr Bethwaits. The c mmittee of the creditor wert also satisfied that nothing could ba made out of this property, and they aaksd Mr Sclandtr* I whether he would Uk<» it over. Ha understood that Mr Bethwaite, who now stood ia Mr Sclanders' position,was prepared to take ! the money or the property. Tha coru«r j piece ot land was thus left. He (Mr Full) i had sold that land to Mr Dear, aud had given leleases for all but this corner, on ! which the purchase money £470 16s 6d wai | stiil due On part of the land thera was a good building erected, leaving the back of the section free, and he mentioned that he himseif had received a visit from the Inspeotor of nuisances, coniplainiog of stagnant [water lying en this ground Out of thu !a»tnamei property, which was Tra.!u*d at £750, # tha cieditors hoped to git soniethiug, and Mr Dear was given the chancs to inak» au offar, but ultimately be had been unable to make one, though he was aDxious to work oat of the difficulty. There was thun nothing to dp but to flic. He did not know whether" any of tha creditor's cculd see tb<>ir way to making au offer, bat if th&y could, that would ba the best way out of the difficulty. H« said theiM was virtually nothing else in tha •state, for he loped the creditors would allow tuo debtor his furniture and tools. William Dear was then called, and on having been sworn, s&id that Mr Fell hrJ c.>rrsci.ly exp'ain&d things Mr tjcaife asked whether any of the creditor's wished t» elicit anything. Mr H. Baigent said tbe debtor had pre« viously explained his position to his creditor!. He did not tbink a further examination necessary. Mr.Fell said there was no dispute that the debtor bogan buiinesa without much eapisal, except his energy, ability, and tea fing»r*. la lep'y to Mr Baigenfc, Mr Fell said the values set down in the statement wtr« these plac-d uoon the properties by the committee of creditors. Mr Baigent slid be should estimate the cost of the cottages at £1200, but be Hi not think .they wouli realise more than the amount of the mortgage. Mr Campball suid thera was an U#in in the , liabiii ics which be ha! taken exception to, he referred to the claims for wage*. , I Mr Fell asked tha debtor to explain the - ! aireumiUnces und«r which hu two sons ! were employed. W. Dear stated th»t H. W. Dear worked for him ia building the bouses. Be v«t a good workman, and a lonafide working man. In reply to Mr Scaifc, tha debtor deposd tint he had no definite ucdi ritanding as to what wages be should pay bis-son. flis son bad lued with him, and Lad reedved a shilling or two :-t times. Hii second son was working at CollißgaooJ, and his wages ae* cumulated there when tbe brick layer who wu working for him drew the money, and at debtor's request sent him £10 of bis son's earnings by teh graph, that he might pay the instalment due on the judgment obtained by MrJ3a gent—tt»t was really money lent, be supposed. Tha balance due to Walter Ja<. Dear was for wages at Collingwood and Wakefield. Fe (the debtor) was working out a dabtat W»k«fi?ld. Mr Campbell said he knew little of the son last referred 'o, but from what he had sees o' the other ha had been engaged on boys work, and vas well paid if he bad his food and clothe*. W. Dear said he woold gnsrantee there was not a brick'ayer could woik better than his son. - Mr Fvll mentioned- that he paw tbe sen pl&Btetißg, and Mr Lukins also »aiJ tbe sob took a man's part in the woik. Mr Campbell did not wish to impeauh th* abililies of tbe sen, but denied be was working as a skilled man. After some further remarks Mr CanpbeU iaid he was in a position to off*r on behalf ef Mr Field to pay 5s ia the £ for the estate. Mr Luking proposed, and Mr B*igea» seconded a motion that tbe o&%r be tcjepte'd. Mr Fell wished the matter to etand over, and said the debtor might be able to make an offer under which in time be might recover himself. After a lengthy discussion Mr Cempbdl _ said that for bimrelf be would not touch a stick of the debtor's furniture. ■ *- The general understanding was tbat tbe offer made would be accepted, and t&o .that the debtor'f furniture would be allowed him. ' - The meeting was then, on the notion of _..-..' Mr Clark, adjourned tot a week. : -■'"::.""";,

Wilkins and Field .. £114 0 0 JohnScoU ... .. , 34 1 10 Suarp"and Sous ,," 26 11 0 Feli and Atkinson .. 12 11 10 -Hudder and Go .. . 10 13 5 Griffin and Song .. 9 1 2 H. Baigent t , .: 12 18 3 Higgino Bros 20 11 i Buxtoaav.d Co.. '., 8 19 4 J. GlOTcr .. .. 0 15 9 J.Gay ,, ., .. 0 2 fi Gorrio and Son» v 0 7 6 A.Wikic .. .. 6 14 10 A. i\ ScLola . • ,. 1 5 10 G.Newport ,. ., 2 2 0 G. Patching ,.. . .. 10 C 10 It. Fraler. .., ,,-... 2 17 0 Jumes Campbell .. 75 3 8 Keale and liftddow .. 8 8 11 J. Pftge; 0 14 0 . C. Hoult .. .... 3 10 0 Dr Locking .. .. 4 0 0 Le\y's Estate (Wel'toa) 13 0 0 Lucas and Suns .. 10 0 0 F. Flewerday .. .. 113 Pitt and Moore,, .. 3 10

J. Clark .. ..4-0 0 >: C MiaeiS .. .. 1 10 0 i J.Rathtrford .. ..110 R C. Ptrker ., ., 2 18 0 J. Lukinr .. .. 49 19 "8 Miller^, 2 0 0 Bodtay .. .. .. li m 7 W. H. Dear .. .. 50 0 0 W. J. Dear .. .. 10 0 0 . ; Mrs Waterhous* .. 5 0 0 MraBwuett .. .. 3 0 0 Df Keywor.'h ., .. 2 0 0' £527 16 9 Sxcurxd Cebditobs. 1. Mrs Kingdoa—security by 1st and 3rd mortgages oter part . Section GG1, Nelson giving frontages to Ez»c^ v>>r .and Waiiue* streets Jj, . .. £804 0 0 2. Oidhain, Wil;i»m -n| JWJrity, 2nd mortgage over sc^e land £40 0 0 3. K ngJon, Boger Wiljiam— security, 4th mortgage ovtr ~sam« .. 812 0 0 Estimated valns oi abora propert/, £1716. 4. Permanent Building Society of Nelson — aecuriiy, 1st mortgage over part Section 659, Nelion^ with fiy^ cottages thereon .. .. 820 0 0 5. Bout and Sonj—security, 2nd mortgage over same land .. 26 6 0 6. Bathwaifce, Wiljiam- -security, 3rd mortgage over same land 210 0 0 Estimated value of propartj over wbieh mortgages 4, 5, and 6 were given, £1050 5s. 7. iJVlI, C. Y.—balance of unpaid purchase money of part of .Section 659, Nelson, with brick home thereon, at the juDotiouofBronti and Waimzi streets ., ,., .. .. '.470 16 6 Estimated value of land and building, CZ50 Total secured liabilities .. £3243 1 6 . Total estimated value of pio^erties, £3522 53. ' ' Assets. ■' ■ Workshop, hor^e, cart and plant, ; and material.. ,", .. £73 0 0 Stable and shed 10 0 0 Stock (hftfdware, <fto) in ihop ., 5 0 0 i?urnit'ur*5.. .. .. .. 40 0 0 Book debts £40, estimaUd to prodaw.. .,.'.,. .. 4) 0 0 Surplus from aeearitici in hands . of lecurod arwditora., ... 279 8 6 £447 S 8