COWS AND RACEHORSE

Taranaki Daily News, 23 November 1929, Page 6

COWS AND RACEHORSE

CREDITORS DISSATISFIED. QUESTIONS FOR INVESTIGATION. In the bankrupt estate of Matilda Stackhouse, of Hawera, married woman, a meeting of creditors was held yesterday at the office of the Deputy-Official Assignee, Mr. R. S. Sage, a large number of creditors attending. Bankrupt was represented by Mr. L. A. Taylor. It was explained that no personal statement had been filed owing to the fact that the whole position of bankrupt’s affairs had' been discussed at a meeting of creditors held on November 11, as a result of which the petition in bankruptcy had been filed. At that meeting bankrupt had stated that she was the owner of a property of 8 i acres on Denbigh Road, upon which five cows were milked. In addition to the mortgages upon the property the cows were subject to a bill of sale to the Manaia Building and Investment Company, which had, however, since been paid off with the proceeds' from a sale of the cows. The property proved too small to provide sufficient to pay interest and and other outgoings, and was eventu-. ally sold under, mortgagee’s sale for sufficient to cover the total .amount owing, leaving a balance of £3O for bankrupt’s personal use. In addition to this amount the sum of £55 had been realised from a sale of furniture and effects. The only asset possessed at the time of the meeting was a racehorse, which had since been claimed by one Twidle under a security held by him. Unsecured creditors amounted to £221 2s. Id., the largest amount owing being £7O, and there were no assets disclosed by bankrupt. Mrs, Stackhouse stated in reply to a question by Mr. T. A. Kinmont, who appeared on behalf of Mrs. C. B. Bullock, that she received only £3O out of the sale of the property, and that there was no more due to her. Some doubt having arisen in the minds of the creditors present as to the true ownership of the racehorse Boundary, bankrupt stated that a debt had been incurred by her to her brother-in-law, Twidle, in 1928, with the understanding that the debt was to be repaid by August, 1929, and failing payment Twidle was to take possession of the horse.® In the meantime he agreed to pay all nomination and acceptance fees in connection with its racing. She admitted that she knew at the time of the sale of her property that she had not sufficient assets to meet all her debts. The horse was seized by Twidle after the sale, although he held no registered security. It was suggested by the creditors present that the horse really belonged to Mrs. Stackhouse, and should have been treated as an asset in the estate. This, suggestion elicited the statement that out of the sum of £lOO paid by instalments to bankrupt £3O had been utilised by her in an endeavour to win races with the horse at the Dannevirke meeting in March last, but no advice was forthcoming as to the result of such endeavours. In reply to further questions it was ascertained that the sum of £2OO out of the sale price of the property had been paid to the guarantor of an overdraft at the bank. The creditors passed a resolution asking the Deputy-Official Assignee to look into the question of the ownership of the horse, and of a cow stated to be the property of a son-in-law of bankrupt, as well as the position with regard to the £2OO overdraft repaid.

GENERAL ITEMS. Dates reserved for auction sales _of property, household furniture and Christmas goods by Messrs. R. P. Mouissey and Co., Hawera and Stratford, are advertised in this issue. A genuine dispersal sale of household furniture and furnishings contained in tlie Eltham and Opunake furnishing establishments of Mr. 0. Manley will be held at Eltham on December 4 and Opunake on December 9 by Messrs. R. P. Morrissey and Co. To-day at the Central Mart, Hawera, at 1.30 p.m. Mr. J. C. Smith will offer for sale a SOcwt Ford truck, in good running order. Included in the remainder of°tho offering will be a saddle and breeching, draught collars, a Methven copper, a chip heater, fumituie and sun-, dries. When Mr. E. K. Cameron, secretary of tho South Taranaki Boys’, and Girls’ Agricultuvul Clubs’ As9 z ociatiQß> xeceixed a donation of fl Is to the movement from a supporter who usually donated f2 2s he sent a neatly worded letter to the donor. The reply, received at yesterday’s meeting of.. Mie association, caused considerable amusement. K Wlien I sent you the first. f2 2s the Refoiin Government was in power and prospects looked pretty good,” the letter stated. “W© have Joey Ward on the, box-seat now. However, I suppose we must not let the “kids” , suffer for his misdeeds, so you Can 'take it .that you will receive the .fi 2s as usual,” Attention is drawn to an advertisement calling for tenders for the painting of a Church of England house property situated in Collins Street West, Haweia. : • A musical treat is promised by the 1 pupils of. Miss Nancy Kent at St. Joseph’s Hall, Hawera, on December 6, when “The Sleeping Beauty” will be performed by over 30 children, the majority between 10 and 12 years of age. ! A great deal of interest is being shown by the children in tho practices, and the efforts of Mrs. W. A. Quin, who has charge of the musical portion of. the programme, are meeting with considerable success. As the result of a move made by the ' National Dairy Association to obtain donations from- dairy factories for the relief of distress caused through the June earthquake, the following eunis have been subscribed by South Taranaki factories: —Mere • Mere f 5 ss, Aiaiata fa, Mells £5 ss, Awatuna flO, Whenuakura £l5 15s, Kaponga f 10. 10s,- Midhirst £5O, Joll £25, .Kakaramea fl 5 15s.