AN URENUI BANKRUPT

Taranaki Daily News, Volume XLVII, Issue 81910, 22 December 1906, Page 2

AN URENUI BANKRUPT

JIEIiTJNU OJ-' CJHODITOIIS. A liiceiin,!;- of creditors in (.lie lunik- ' nipt estate of Ri'.ov Brothers, farm its, of I'venui, wiirt held at llii! o['lice of the l)<.'|)u(y-OlUeiul Assign™ (llv ,|. H. ileilley) on Ji'i-idiiv nmniiii;,'. Tin' .Dcputy-Uilicial A«sijfi.i» |.w<icl«l, ami there Wet'" eillhi cr**ilij.oi'.s present. .Mr Townsend (Waitara) appeared on behalf' of tin; bunkiiiplh, who proeiit; .Mr (lovetf mt behalf of ."Mr I'. L Black, of New PlyiMnnih, ami .Mr Kerr for the DepulyOliifial Assignee. The debtor's statement of a>seU and liabilities showed Mint the unsecured creditors wen.' owed Us -M. Against this w.tc: —M«ck in trade at Civnui, tvlimaled at Ciiio .o*; book debts, CJIU X(is j(Jd, estimated to realise tile lull amount; propen-w .CIO; total, X 254 is lOd, 1.-nviii-* an estimated deficiency vi .OiH 1& -id. The property, valued at .010, consisted of a of liMil', acre>, owned i»v l*. ,L Flack.

The unsecured creditors were J. .Vic Kay, Toiigaponilu, L. Fraser ami Co., Uivnui, Cl:» -1.-. Id; John Abbott, New Flymoiiili, £7 17s; -I. .11. Burke, Urenui, I'd (is Id; C. X. Uowe, Urenui, MUD; liros., Urenui, C2j 7s tid; K F /uin-ore, Urenui, ,CHi -Is 4d; C. Agate, Uieniii, C."j 7*; it. Cribhon, Awakino. l!o 8s lid; A. Water*. IVmgaporutu, ,C2 ii]s ;>d; 11. Brown and Co., Uaiutra, .Cll 12s Kid; i». ftheard, Urenui, US Ks; .Jenkins Ala,tthews and Figott, UaiLara, ,C.'il lis 2d; Jj. Gro>snian. Uremri. C 5; S. .MeC uinness, Urenui, USO: J. Williamson, Waitara, ,C-i J.is <)d; K. G. iUcakley, Irenui, Cl2 .'ss 4dj T. li. Ford. \\ aitara, L'Z 10,; 11. Ward, Xew Plymouth, x~) Jos; 11. lloli»»c, Lire' nui, .Cl> 7s lid; C. (ireenwood, Urenui, CI 1-Js; il. Schofield, Urenui, CA li»; F.-L. Jilack, >k»\v Plymouth, £OO to-., tal, .1&23 (fe ->d. in Hie .--liparate v. laie of Kenuird Filey a sum ui' ;ChK I.Vs was owed to the Provident, Investment, and liuild ing Society of 'L'aranaki, the security being vajji'4 at Cl,;0. Adding .Cl'2, the value of debtor's furniture, there was thus a surplus of CV.) as. Kegarding .] lil;_ih Francis llilcy's separate estate, unsecured creditors were owed i'lß ;.!s. liooic debts, cIU Is ttd. were estimated to produce C~>, leaving a deficit of 'Jlo

Tlie Deputy Otiie:al A.-eignee read the evidence given by 11. K ltiley in his private examination. Debtor said that about five or six years ago lie sold a. bakery busings at lOltham in order to lake up a. beach farm of 7H7 acres in the L re it u i district, and his brother came, in with hiiu as a partner. At Licit time then- were about ■lll acres of the farm in grass. Tiiey \\ere both i|uitc solvent at that period. About twelve months ago they so'd the farm through .Mr Newton King for .CI2MU to Sir Uatkias, flu-re being then tii-ilj acres in gra--s. There was Ctiill) or CVIIU left, on mortgage. 'flic cattle on the farm were tt.ttier bill of sale for about CTllli. About a year ago they took up lite mail contract, thinking: they could put about C2OU or .CjUO into it, and llicy lea-eil a farm from Mr Black for i;»U a year. When ilicy suit! i lie farm llicy aekeil for a sfulenient I'rom .Mr Newton King, ibttL iiad only received it a fortnight ago. \\ it lie.-.*, and liis br..ther were not sat.sli.-d with Unit, slatciiicnt. They had sold the coaching planl, etc., through jlr King' .0 .Mr Crawford for .etui His 3d, clear of commission. They lead only received Co of this, as Mr King oroiiglit Lb(mu in his debt. Tile coaching pauil was not under a bill of sale. (>ll l.)eeuuber on I, of lust- U'ar, some ee, were soid, and the cheque for tii.se went to jlr King. Nunc of the cattle were not included in the bill of .-air. They wauled a plain statement of lucir position with .Mr King, and the only way iiiey could see lo get this and pay tile credito.s siiare and share aiike was to hi' 1 . About two and a-lialf months ago iluy gave .Ur Black a promissory ntiu- e... ail order 011 the posi-aiasler for i. .. 10s, an amount ilien due to them on the mail contract. The bei.il v. a - rcni. Tiiey had. ui-c!oscd all their assets and kept lioLliing fiaek. Witness did not-think tiiey iiaum ade any ,uoucy oil their malt contract, nor had they 10-t any. With regard to the mortgage 011 the farm, the money went 10 build a live roomed hou-e and pay oli' money (.wing. i-'tiri.licr examined publicly, debtor -aid that they had ell'ected a ni-.0l gage of C ISO 'ill . I;: 111: a iv, Mil!, to i>:\ Walke.- at 7 pe.ij(n'.. ,\ir WihSi.n

acted in the matter. They only re' ceived .CIBS out of the .cm It. was decided to adjourn the me.a ing until .Mr Newton King fur.'i-ie.v, a statement or be examined as regards tile transactions with debtors, it v.as further agreed that .Ue.-.-l's Matthews, Jenkins, and Pigoit sell the as-s'ts 011 the farm by auction on January ,'iril. The bankrupt.) a.-kod for an allow since, bat no creditor moving a motion to this effect flic reiiuesl was not complied with.