MEETING OF MR. D. MOVERLEY'S CREDITORS.

Taranaki Herald, Volume XXVIII, Issue 3565, 14 October 1880, Page 2

MEETING OF MR. D. MOVERLEY'S CREDITORS.

A meeting of the creditors in the estate of Daniel Moverley was held on Wednesday, at the Court-house. Mr. N. King was voted to the chair. The statement of. assets and liabilities was read, in which the total liabilities were estimated at £300 165., and the assets at £194 ; the deficit being £112 16.3. Mr. SAMUEL appeared on behalf of the debtor, and stated that prior to filing his declaration of bankruptcy, the debtor had informed him (Mr. S.) that he was unable to meet his engagements with his creditors, and that a creditor (Mr. Mynott) was about to issue an execution against him. He advised Moverley to endeavour to arrange privately with his creditors before filing his declaration of insolvency, but it was found that a number of the creditors were not resident in New Plymouth, and it would take too long to communicate with them ; hence it was deemed advisable to put the estate into the Bankruptcy Court, otherwise the pressing creditors would step in and take the property. There was a difficulty in finding out the real state of affairs, as Mr. Shuttlewortb, accountant, had possession of the debtor's books, and refused to give them up until his account was paid. It was necessary to obtain access to the books, and Mr. Shiittlcworth allowed him (Mr. S.) to inspect them. It was represented that the stock was of a perishable nature, and should be sold at once. An application was accordingly made to the Registrar, who authorised Mr. J. C. Davies to realise the stock at once, which was done. A report from Mr. J. C. Davies was read, stating that the stock-in-trade and good-will of the business had been sold for £52 Is. 10.1., leaving a deck, a hawker's cart, and a donkey still unrealised. Mr. Sajiuel : I was astonished — and no doubt some of you were — to see the shop opened the day after the sale, anil Mr. Moverley as happy as ever behind the counter ; but there is nothing to indicate that an3 r thing improper in this has ocourro 1. The shop appears to have been purchased by someone who has arranged with Mr. Moyerley to keep in the shop as servant, and although it seems strange, I do not know that there is anything illegal about it. Mr. Davies said that the deb! or had given up everything, and had even sent a chest of wearing apparel to him, but which was not include I in the assets, as the debtor was entitled to retain it for his own benefit. With respect to the book debts, which amounted to £79, he thought that a fair proportion of them were good. He asked Mr. Shuttle worth for the books, but did not receive them, as Mr. Shuttleworth had a lien over them. He also asked the debtor, in the presence of Mr. Shuttleworth, if the claim of £12 made by Mr. Shuttleworth was correct, and the debtor said it was. Mr. Myxott explained his action in pressing the debtor, and denied that he had done so unduly, although Mr. Samuel had stated that he was the cause of the debtor becoming insolvent. He state 1 that he asked the debtor to advance £5, and time would be given him to pay the remainder of the dishonored promissory note ; but Mr. Moverley treated him with coutempt, and swore at him. Mr. Samuel. : You did not understand me, Mr. Mynott. Ido not mean to say that you acted improperly in pressing the debtor, on the contrary, I think you did quite righ I,—1 ,— probably I would have done the same thing myself — but I meant that you were the cause of the debtor filing. The debtor was then examined upon oath as follows : I sold the horse and cart three months ago to my brother-in-law, and I told Mr. Mynott of it. Mr. Mtxott : I deny that. Debtor resumed : 1 believe I was solvent at the time I sold the horse and cart. Mr. Mynott : Did you not lead Mr. King to believe that the horse and cart were free, and that no one had a claim upon them ? The Debtor : Mr. King asked me about the cart, but I was not supposed to tell everyone my own business, and I said nothing about it. I had no right to tell either you or Mr. King about ray own private affairs. Mr. Mynott : As a victim of misplaced confidence, I think I had a right to know about your affairs. (To tho Chairman) : I consider that the debtor has given a preferential claim to his brother-in-law. Mr. Samuel (to Mr. Mynott) : Just what you wanted him to give to yourself and Mr. King. Mr. Myxott :No ; I did not. It appears to me that there has been a wilful waste of the debtor's property. The Debtou : I sold the three horses for the purpose of paying ray debts. Mr. Mynott : It seems to me that when my claim became due your horses, cart, and everything else suddenly disappeared. Mr. King said he could clear up the matter about the three horses. The horses were sent to his yards at Waiwakaiho for sale, but weie not sold. A large shipment of fruit af terwaivls came in, and Mr. Moverley came to him and told him he could not pay his account, but he wanted to purchase more fruit on credit. He (Mr. X.) said he would allow Moverley to get the fruit provided he gave security for it. This Moverley agreed to do, and the horses were given as security. The horses were of little value ; one was sold for £1, and the best horse was worth about £6. Examination of the debtor continued : I attribute my failure to bad speculations in fruit, heavy expenses, and the recent dull times. The Chairman said he could verify the debtor's statement in one respect, viz., he had bceu very rash in buying fruit, and a lot of it had spoiled in his hands. The list of creditors was examined, and it was found that their claims were of recent date, showing that the debtor had been solvent up to within three or four months ago. Mr. Mynott was about to put another question to the debtor, when Mr. SAMUEL asked him if he had proved his claim, and Mr. Mynott said he had not. Mr. Samuel then informed him that he could take no part in the proceedings, but if he wished any questions to be asked he must request the Chairman to put them. Mr. Mynott said he did not wish to ask any further questions. Mr. J. C. Davies was elected trustee at a remuneration of 5 per cent, on the gross receipts. The Trustee was instructed to ascertain whether the claim of £12 made by Mr. Shuttleworth was a just one, and, if necessary, to take legal opinion as to whether Mr. Shuttleworth could retain possession of the books until his claim was settled.

Mr. DAVIES said the gool-will of the shop was sold ut auction, and bought by j\£ r . Walker, of the Imperial Hotel, for Mr. Moverley, sen. The meeting conclude 1 with a vote of thanks to the Chairman.