BANKRUPTCY.

Taranaki Herald, Volume LIV, Issue 13462, 29 June 1907, Page 7

BANKRUPTCY.

Meetings, oi^c/editprs in the following bankruptcies Have been held at the office of the Deputj&Qmeial Assignee, Mr J. S. S. Medley, i)fcis week., Otto Huse — (ad jour fled meeting). — It was decided that bankrupt and his wife, be examined before a Stipendiary Magistrate regarding their dealings. Hugh Young, boarding-house keeper,' Inglewood. The meeting lapsed for want of a quorum. The. liabilities amount.' to £229 ls> 3d, the assets

being £I—one1 — one share in the Moa Farmers.' Union, leaving a deficiency of £228 Is 3d. In his examination by the D.0.A., bankrupt stated that he took r Somerset House in 1904, paying £100 down. He had another £50 in the bank, and had to pay off £9 18s 4d per numith principal and interest. This was more than he could do.- He tried to get rid of the property, but could not manage it. He did not know when i he took the property it was leasehold. He was under the impression he was buying a freehold. He gradually got deeper into debt, and at last had to file as he saw no way out of \he difficulties. Percy Knight Wqrthington, farmer | — The liabilities showed unsecured ere- p ditors £1509 7a 4d, and secured creditors £1529 lbs od. The deficiency amounts to £888 17s 4d.. s Included among the unsecured creditors ar& Mrs' M. A.Wprthington (mother) £662 11* 4<i, P. H. Worthington (brother^ £112,, J. Sinclair -(father-in-lAw) r -£aid6 x and Miss Sinclair (sister-in-law) £80. Bankrupt, sworn, stated that he- took the farm at Waitara about four years . ago, paying £20 10s Od per aerie. t . He paift £300 cash. Two years latef he went into partnership, receiving £280 for half share. He was in difficulties at that time. -Mrs Worthington's claim and also that of F. H. Worthington were for loans and cattle. Witn 'regard to the cattle sold by the Loan Com- I pany at Waitara their claim was for £169 or £170 and the cattle fetched about £4. He had never had any statement of the sale, and had not totalled it up. He had not received any money and the Lean Company may owe him something. He did not lose all the money on thes Waitara farm. He owed £300 on the East Road farm. He had made no statement regarding receipts, and expenditure. Difficulties had arisen tfver the partnership. — The meeting was adjourned..