BANKRUPIOY PEOCEEDINGS.

Colonist, Volume XXXIII, Issue 5936, 17 October 1890, Page 3

BANKRUPIOY PEOCEEDINGS.

Re J. J. Gabdner. Thb first meeting of the creditors of James Jones Gardner, oE Nelson, butaher a bankrupt, was held at the Court House yesterday, Mr A. A. Seaife, the Deputy Official Assignee, presiding. The statements as filed were as follows ; — Liabilities — UNSECUBeo.

A number o c oreditora were present, but only the following had proved, the amounts for which they had put in olaims following tbe names :- James Hewitson, £24 69; G. Gbing, £8 6s ; Pitt and Moore, 10a 6d ; A. Drummond, £51 14s. The Assignee having referred to the statement said he valued the household furniture at £26 123, but as the debtor was entitled to £25 worth there was praotioally nothing to look for from that item. Of the book debts \ £17 19s lid had already been collected, and there was about £80 probably to come in As , to the house he did not expeot it to realise more than £80, so that about £180 would be available. Against this the costs would amount to say £20, and there were preferential claims to the amount of about £18, so that about £142 would be diviiable among , the oreditots, and this would yield a dividend of say Is 4d in the £. Mr 1 it, who appeared for the debtor eaid , he thought the estate would yield better ; than estimated. For instanoe the house ) cost £130 and another £30 had been ex- < pended on it so that it should be cheap at ; £100. He said the debtor had been forced . into Court, one of the creditors having obtained judgment, and he was then obliged to ■ protect his 01 her creditors. It was not a \ caae where a man sought the Bankruptcy i Court to get rid of his liabilities. He also 3 called attention to the email deficiency, ihe 3 bankrupt was then called to enter the box. I) James Jones Gardner deposed as follows.: 3 I am a butcher residing in Nelson, and . previous to going into business on my . own aooonnt, 13 months ago, I was a . journeyman. I had £SS of capital in cash, besides my house, when I went into business. 3 I bought stock with the money, and a gentle--1 man bought some plant .'or me. He bought . a cart, sausage machine, &0., of Mr Gross for f £90, and I paid him rent of 11s 3d a month 7 for the use of same. I was to be able to buy (hem whenever I had the means. I did not go out of my way to tell people that these 3 belonged to Mr Gen. These things have 3 since been sold by the owner. Mr Glen's ! claim is for some pigs, and a weighing y machine tbat I sold, and for bookkeeping. \ When I first started business I got on pretty ' well. I held my own for a time, but then : trade fell off and stook became dearer, while expenses went on just the same. The Assignee Baid the books were very well s well kept indeed. t Debtor : It was about a month ago I found _ I could not carry on. and 1 oalled a meeting of I my creditors. I was sued by Mr Dollamore, and the case came on before the meeting, 0 whersupon I filei tcr protect my other creditors. The last stook I bought wa3 from g Mr Blundell' about a month ago. My _ expenses were about a pound a day. I have g kept an account of all I reoeivpd. My housea hold expenses were 30s a week, which was taken as wages. My monthly takings were „ for September £100, October £128, November r £100, December £78, January £92. February B £82, March £108, April £90, May £98, June c £88, July £97, August £90, September £98. The rise in price of meat injured me, my „ sales fell off, and I lost the oountry cash B purchases, town butohers Belling cheaper in r the country. Stook!, too, went up in price. J The are too many many batchers, and the . competition is top keen. , . ,» Mr Drummond said 1 that Mr Soaife bei( lieved th*e estate would pay lls cr 12s, and j Mr Pitt that it would pay a little more- He i, thought that the stook having been got so , ireoently, and considering the way in which •it was bought, every penny should

Ibe accounted for, and he thought the estate should pay 15s in the A. The debtor gol first class stock from them, which could hav< sold for cash any day, so that, is was tanta mount to lending cash. He thought th< estate had better be wound np as speedily a* possible. He spoke of the excellent mannei in which Mr Glen had kept the accounts and said he was sure that gentleman's olaiir was within the mark. m Mr Dollamore spoke in the same strain, and his BOlioitors, seeing the cart, eto, advertised for sale, pressed his claim. Ha thought Mi Glen was quite right in what he did. Mr Drummond moved that the estate be wound up as speedily as possible. Mr Dollamore seconded the motion, which was put and carried. A question was asked the debtor as to his dogs, but it appeared they were of little value. The meeting then terminated.

£\ b. d. F. M. Green .. „ 11 18 0 E. Crss3well . . . . 0 13 F. Townsend . . . . 13 15 3 Dollamore .. .. 12 12 0 Ja3. Hewetson „ . . 23 2 0 "Wilkins 8 18 0 A. Drummond .« . . 51 14 0 A. Wilkie „ „ 110 9 E. Green 2 10 0 W. Colemaa .. .. 25 15 11 H. P. Paton . . „1938 J. Glen 20 2 5 J Palmer .. .. 512 7£ T. Gapper .. .. 716 0 J. Taylor 0 10 0 Isaac Gardner . . „ 6 15 0 A. White , 0 9 6 H. Martin . . . . 7 0 0 C. Ching 8 6 0 0. Savwell .. „ 017 0 Mrs. Bird . . . . 0 13 1 F. Burkett .„ .. 3 0 0 Blundell 3 16 0 F. Trask 2 3 6 Lock Bros „ . . 15 6 J. P. Diokson . . . . 315 6 Pitt & Moore . . . . 010 6 Berry &Co 5 9 5 Wimaett & Sons . . 3 0 0 R. Watson . . . . 16 9 JR. Si?ley .. .. 2 0 0 W. E. Croaa . . . . 2 12 0 H. Parker „ „ 315 0 Neale & Haddow . . 15 7 Ohittenden & Cc. .. 8 16 2 Fell & Atkinson . . . . 1 15 0 W. Anstice . . . . 0 12 0 City Council .. .. 0 4 3 J. E. Hounsell & Co. .. 0 3 0 £277 12 3£ Assets. £. a. a. Book debts £135 2a lOd estitimated to produce .. .. 100 0 0 Part of section 439 City of Nelson, with dwelling house thereon 100 0 0 Household f v niture . . . . 25 0 0 £225 0 0 Deficiency, £52 12s 3§d.