IN BANKRUPTCY.

Taranaki Herald, Volume LIV, Issue 13358, 24 December 1906, Page 8

IN BANKRUPTCY.

The creditors ..in the banikrupt ce- s . tate of Riley Bros., 'farmwrs, " Uretiui, j met on Friday at the c/ifteo of the De-puty-Official ' Assignee. "Big-lit creditors wore present. Mr T«o)^send ("VVaitara) appeared for' b'a'nWupts, ~*Ar Govett 011 behalf of Mr P."' ii. Black, of New Plymouth, and Mr Ivc'rr for thb Dep-uty-Official Assignee. ;

Tihn deJj'tov's stafement of assets and liabilities showed "that the unseeuml creditors were owed ,£323 lite. Against this worn, :— Stock' in trade at Iker.ui, estimated £133 5/; book debts £110 16/10* ost-imatod. to rear lise the full amount,; property. £10; total, £.254 1/10, leaving, an estimated deficiency of £(58 18/4. The property, , Valued at £10, consisted of a Icafec of 126 i acres, ownp-d by P. L. Black. '

The unsecured creditors were >J: McKay, Tongaporutu, £3 3/ : J,. Prater and ' Co., Uremia. £33 li/l,v John Abbott, New- 1 Plymouth, £7 17/.; jj ( . r H. Burke. Ur-etmi, £8 6/1 ; C. j£» Howe, Urenui, £(',Q ; Pascoe Bros., Uranui. £'25 7/S 5 E. F. Amooro, Urenui, £1(5 1 4/4 ; C. Agate, : Urßnpi, £5:7/)'; R. Gtibbon, Awakino, £5 S-/9. A. Waters^ , ! Tong>aporutu. f , £2 18/3 ; 13^ BrOAVn ami Go:, Waitara/ £11 \~2/ 10; B. Shefird, Uronui, 8/^.l'etMfins, Matthews,, a ij,d'T*vgott, £31 6/'2>:f X Grossman, "Cremd,/ J&5 y ; S. MoGtiinness, 'UreniuV £35 ; J. 'WilHamson, TVailara, £415,9; I^'." <j. Bleakley, Urojvui. £,12 3/-i ; ; T. B. Ford, Waitora, £2 10/-; H. Ward,- No\v Plymouth, £;5 10/ ; If. Holwse, TJceiiu'i, J £3 7/11, C. Creeinwood, Urenui'/ .CJI 14/; TI. gchofiekl, Uronui, '£3 '.(f/ '; P. L. Black, New Plymouth, £50 -/total, £323 0.-/2. ■' ' *,V, V In -ilie sqiara'te estate of Bernard Riley a sum of £102 15/ was ..owed to thei Pi'ovident, Invest mrnt, and Building • Society of TaranaUi, t-h-e security b 'ing valued at £130. Adding £12. the value of flebtorV? furniture, there was thus a surplus ot £?>9JS/. Rro-ai-^in^ Hugh Francis Kiley's-so-liarato estate, unsecured creditors Woi'qowed £18 »/. Book debits, £10 1/8; wcrp esliima'ted to produce £5, leav- ; ir.g a d'e-ftcit of £.13 3/. '' ' IT. "P. Biley had lieen privately ex- . aininwl. and the "Deputy-Official As- 1 read the evidence giv>en. Dobtor • saiicl thiat five or six years ago he solda ibakery toisiness ai : Elt»ham to t'aike . up a b'eaeli' farm of 707 acres at iUre : nui, his brother coaning an as partner. Botih were, solvent at that period k 'A<bout forty acre's of the- farm -werd in, grass,; About a year ago* SKe fatmi.

I was gold for £1200, £600 or £700 bemg left on mortgage. 'About „s 380, ' acres ai the farm were then in . ]giasß. The cattle were under a bill ,_' 'of sale for £700. Then, they , took, up s a- .mail contract, thinking they could ) put about £300 into the business. t a farm from Mr Black for £80 t taifyear. The coaching plant was recent- . ;ly solid. When . they, sold 'the farm they asked for a ~ statement .ftpoum Mr King" (who conducted th-c * sale), but it had only beeJa received recently,, and 1 both h& ami his brother • were dissatisfied with it- The- coaehing" plant- was sold by. Mt King* for =■ £104 J6s 3d, but of. this sum thpy : - had only received £5, as Mr King ; sh'owedj ' thfem to be in his debt. Tihey wanted 'a plain statement from Mr King, and tho only way they could , see to get this and be fair to the creditors was to file. It was decided to adjourn . . the meet^ ioig,. until Mr' King furnished a s-tate- , ment or -was 'examined- in ree-ard io ;fiis transactions With bankrupts. The . ass^ts\on.','the. farm are to be sold by 11 r 'sauctioi,' on f January 3rd. , , • The bankrupts asked for an allowance., _ but as , n o , creditor moved in bhat direction' tire requesrt 1 ; W:as not "ioinj)licHl with:" • • "■■■.■■^■■* „.v