The Taranaki Herald. PUBLISHED DAILY. FRIDAY, MARCH 18, 1892.

Taranaki Herald, Volume XLI, Issue 9344, 18 March 1892, Page 2

The Taranaki Herald. PUBLISHED DAILY. FRIDAY, MARCH 18, 1892.

Mr Newton King reports lmvingsold Mr Honry Newland’s farm on the Frankley Road, 150 acres, to Mr J. Gruby, of Mangorei. '•

Watches for the million at 21s each This class of watches beuts anything in tho market at almost double the price; they are easily repaired, good timekeepers, and very durable. J. H. Parker, watch makor, Devon-street, New Plymouth. Sent to any address by registered post for 22s Gd~* Advt

- All persons suffering from defective sight should got spectacles from J. H Parker, watchmaker, jeweller, & optician, Devon-street, Now Plymouth.—N.B. The strength of tho sight is tostod by the * Patent Optometer,” and fluitablo’glassos aupplied Advt Mossrs Dingle & Corko are now offering tho public of Taranaki such an opportunity of obtaining cheap furniture, crockery, glass ware, fancy goods, &c, as may not occur ugain. Mr Corke has loft for England, where ho will select a new slock of all tho latest furnishings, pending tho arrival of which, the clearing sale will bo continued, and as the stock must be very considerably reduced, those who wish to secure bargains will do well to call early. Upholstering and repairs attended to as usual, also undertaking.— Adyt. Wolfe’s BcUnapps 40 years before the public. Buy original uuoponed bottles. 4

BANKRUPTCY COURT. Thursday; ' March 17. Before * R. G. Baucliope, Esq. , D.O.A; ’ • MEETING OF RICKETTS AND KISBY’S CREDITORS v "

The first meeting of creditors' in the estate of Jb.-oph Ricketts and Walter Kisby, drapers was held in the Deputy Official Assignee’s office on Thursday, at II a.m. Present: J. Mynott, £100; Ahlfield Bros & Co (W. H. Clarke, proxy), £22 8s 8d; Matilda Webber, £46; J. B. Roy, £6 98 7d; -Cooper &Co (J. B. Roy, proxy), £3O 19s 6d; Sargood, Son & Ewen (J. M. Ramson), £39 15s; O. Samuel (J. Ellis,, proxy), £6 5s 7d). Mr Houghton (Nathan & Co, £73 10s Id) was also present, but had not proved. Mr Roy appeared, for the two bankrupts, win wero also present. Tho Deputy Official Assignee Baid that the .statement of assets and liabilities and the private depositions of the bankrupts had been published, and lio supposed the meeting would take them as read. Mr Mynott.: I'take them as read except Mr Kisby’s statement that I was the cause of their bankruptcy. The Assignee then read tho assets and . liabilities, and Btatei that the stock had been valued by Messrs Kisby and Cudd, who put down the following values.:— Stock in shop, £3ll 17s 2d ; goods' at Hawora, £6 13s ; book debts, £l2. Total, £332 18s Bd. Ho had instructed Messrs 'Nolan & Tonks, of Hawera, to sell the goods there, and forward the . proceeds. The disposal of tiio stock in the shop would be a matter for the mooting to decide. Tho stock, which had been valued at cost price, was not insured when he took possession of it, but he had effected an insurance of £3OO for one month on it since, in order that the creditors would be protected against accidents. The Assignee then explained with reference to stock consigned to Ricketts, from hiß uncle in England, which was lying in bond. The question, whether or not the estate could claim these goods, lie had not yet- got legal advice on, tut intended to do so. For the present lie had told the Collector of Customs to hold the Btock till he hoard from : him again. The Assignee then informed the meeting that tho bankrupts were present to answer any questions. Mr Roy said tint- he was solicitor for the bankrupts. Some time ago the bankrupts determined to dissolve partnership, when they could liavo paid 20s- in tho £. Owing to litigation tho bankrupts had to change their shop, and their weekly receipts fell from £4O to £lO a woolc. Creditors began to press them on account of the legal proceedings, and the bankrupts finally, on his advice, decided to file. Hie clients were prosont to answer any questions.

Walter Kisby, sworn, in answer to Mr Mynott, said that Mr Joll was told that the goods coming out from England were going into the business. The firm had never possessed a bridle, saddlo, and horse; Mr Ricketts owned a horse saddle, and bridle. ,

In answer to a question, the Assignee said the articles were not in the assets.

Bankrupt, in answer to further questions, said that they got £4O to pay Mr Ramson from the Bank. They got an overdraft to pay the money. The Bank did not appear as a creditor, but it got judgment and had since : been paid. The money was not paid to Mr Ramson under pressure from Mr Samuel that an execution would bo put in the following day before noon. ~ Mr Mynott said that Witness did toll hmi that. ■ '

The Assignee said that lie had scrutinised the payments by the estate, and in his opinion now, without-taking legal advice, the £IOO paymeiit-.of Docombor;' 19 to Mr Mynott, aud the £4O to Mr Ramson;wore legal, although they had been paid within three months prior to bankruptcy. . That was tho aspect to him at present, without taking legal advico. Mr Mynott said if the payment to him was preferential then ho would pay it back into the estate. He remembered that all payments made within three months prior to his own bankiuptcy had to be paid back. He would move that legal advice should bo taken on this point, as he was willing to pay the money back if it was a preferential payment. The Assignee said ho did not require a resolution, and added the circumatancos of the two bankruptcies wero entirety different.

Evidence continued : Witness explained matters in connection with the Opunako branch that was opened by Mr Ricketts.. Mr Ricketts gave up an idea of going Home when he cpuld not get his liabilities taken over by some one. Mr Mynott : You attribute your bank ruptcy to me? Bankrupt: I do. Mr Mynott asked jf he had not always shown a kind disposition to him when he (Kisby) was in Mynott’a employ. Bankrupt suid he had. Mr Houghton thought that the matter was totally irreleviipt. Mr Mynott : I beg your pardon. At this stage several began to speak at once, and the Assignee called the meeting to order.

Mr Mynott said he had always bliowd kindness to bankrupt until bankrupt threw down tho gauntlet to tight. At this stage Mr Mynott gave some instances of his kindnoss.

Bankrupt said that Mr Mynott told the kind acts he had done to him, but he would like to tell what he had done for Mr Mynott. Tho questioner and bankrupt botn started to speak together, when the Chairman called them to order.

Mr Mynott remarked to bankrupt, “ Don’t you show any of your high airs in tho ; stirrups here; you are buckled down a bit my lad." Bankrupt appealed to the Assignee, who said he must stop personal disputes. Mr Kisby said that 1 h 6 ; would liko" to answer these questions as these remarks of Mr Mynott would go into tho papers Mr Mynott remarked that bankrupt could write to tho papers. . . Bankrupt: 1 intend to do it. Further questioned, bankrupt said that he oid not know to his knowledge that Ricketts promised to raise monoy on the goods soot out by his uncle to pay him (Mynott) liis £IOO, Bankrupt here wanted any creditor to ask him if he had been addicted to gambling. Mr Roy Baid it was unnecessary, as tho point was notin issue. Mr Mynott. attempted to ask a question as to what took place at Mr White’s when a promissory note was given. Bankrupt got very excited, and the Chairman called the meeting to order. Mr Mynott at this stage asked bankrupt if ho would deny that ho did not unwillingly hand ovor Mr White’s cheque to him on that occasion.

Bankrupt said ho nover handlod tho cheque. Mr Mynott asked about the stamping of a receipt that he gave to bankrupt. Mr Roy pointed out, that tho question was ono that could not be well answered, ob Mr Kisby might bo called as a witnoss against Mr Mynott over the charge of not stamping that rccoipt. Tho question was rot pressed. Josopli Ricketts, Bworn, and questioned by Mr Mynott, said that he only told Mr Mynott that certain goods had come from England, but not offering to give them us security. Ho had told Mynott some time beforo that the goods would bo additional security.

Mr Ellis said there was no question of security for Mynott ; ho would have to share like the other creditors.

Mr Mynott said ho did not want to share differently to the other creditors. He then made an explanation as to the bills he had received from bankrupts when lie sold the goods to them.

This finished the questioning. Mr Mynott moved, “ That the goods be sold by auction.”

Mr Ramson said that the goods should be sold by tender in his opinion. He moved as an amendment, “ That the goods bo sold by tender.” My Roy seconded Mr Mynott’s motion. Mr Houghton said ho would liko to si o the matter postponed in order that he could provo. The Chairman remarked that that would necessitate a fresh meeting. Mr Houghton said he could got the proof by Saturday. The Assignee said lie would adjourn the meeting till Saturday. Mr Clarke seconded Mr Ramson’s motion. Both motions were allowed to stand over, and the meeting was adjourned till Saturday at 11 o’clock. THIS DAY. The. following additional private ■ depositions were taken this (Friday) morning by the Deputy Official Assignee : - Joseph Ricketts, sworn, said There are a lot of goeds in bond at New Plymouth, consigned to me by Mr IT. Waine, East Duhvich, London. The one is of goods bought by H Waine from Hylands and Son (Limited), London, for £135 Os Gd, aud the other of goods bought by H, Waine from Jones and Higgins, London, for £65. Mr H. Waine is my uncle. He did not make me a present of these goods or any of them He did not sell me these goods or any of them. He was a draper but is now retired, and only does commission business occasional yin hops. I was to sell the goods and refund to him his outlay, without any profit. Ido not claim any interest or ownership in the goods. I havo not paid any money to Mr Waine, or to anyone else on account of these goods. Neither I nor Kisby havo ever obtained possession of these g ods or exorcised any right of ownership over them. I would refuse unless ordered by the Court to do anything by which these goods could be obt-ined by the Assignee and sold for the benefit of the creditors, because I do not consider they are my goods. They were consigned to my order and not to that of Ricketts and Kisby. The only mention I made to my creditors about these goods coming out to me was to Mynott and Jolt. I showed them part of Mr Waino’s let er of June 12, 1891, now produced. I thon thought that I should then be able to put these goods into the business. Subsequently I received another letter from my uncle, in which lie said I was to sell tho goods on commission,, and not put them into tho business. I cannot find that letter ;it is mislaid or lost. I showed it to Mr Matthew Garrick and to Mr Kisby, "and also, I think, to Mr Courtnbyl It arrived about the middle of November. Ho said in that letter that ho objected to any partnership, and that he looked .to mo alone. I never mentioned that theso goods were coming out to any of my creditors as an inducement to them to give me credit or time, If MrKisby has done so it is without my knowledge or approval. lam 22 years of age, and have never been in business before on my Own account. Walter Kisby, sworn, said: I have heard the evidenco just now given by Mr Ricketts; I remember seeing the letter Mr Ricketts mentions in which his uncle wrote he was to sell the goods on commission. He showed mo the letter the first ; time wo met after, he received it. , That was on the day the bill became due to My'nott, that is on 19th November, 1891.. Before that I had always understood that tho goods wero going into the business, and had always said so. Ou the same dav that I read that letter wo arranged to dissolve partnership, but no formal dissolution was ever signed. Since then I never mentioned to anyone about these goods in connection with our business, and I have never looked on myself as having any interest in them; Since 19th November I have looked on these goods os being the property of Mr Waine, and havo not made any attempt to get possession of them.