BANKRUPTCY.

Taranaki Herald, Volume LIV, Issue 13663, 30 March 1908, Page 3

BANKRUPTCY.

A meeting of cioditors in the bankrupt estate of James Alfred Carr, farmer, Albert Road, near Inglewood, was held in tho office of the D.0.A.. (Mr 0. S. S. Medley) last week. There Wore present in .addition to the D.O.A. and bankrupt, Messrs. Black, Price, Ansford, McAllum (for Mrs Stock). H. Thompson (foV Messrs Vickers ana Stevens and the Mo«i Farmers' feiion), and'C. H. Weston (for bankrupt). Tho statement^ o* accounts showed value ' of securities £1412, secured creditors £1237, unsecured creditors £675. Assets were represented by stock, etc., £172 10s j cash in hand, £5 13s sd ; furnittiro, £10 ; surplus aftcV meeting secured creditors, £175; total. £363 3s 54. ; The deficiency :wss £212 13s 2d . The secured creditors 'are: Government Advances to Settlers- Department, £700; Mary Jane Stock", £207: T. Shai}ef Weston.. £330; total, £1237. Unsecured 'creditors are : Moa Farmers' Union, £32 163 3d,; Chas. Ansford. £41 ; Dr. Giult, 10s 6d'; Tar^n^i- Daily Non-a, £1 15s r Abel damlfn. £4; Newton • King, <$6 . 4s , 4d ; Dr ( . Fookes, £4 4s; llobinsoh (Iri^lowoodVj £1 11s 6d; N.Z. DaiDyman. 7s ; Smith (Inglowood), £1 10s j Tayjor (Inglewood), .14s; Vickers and Storens (fiiglbwbod), £27 16s and £65 5s ,3d; Eicliard Price (Egmont V'illago 1 '), £25; James CJrajit (Now Plymotith^, £50; Tarattald (Sounjby Counoil, £4 38s; { Waiwnfcfftfio$ l gfoMT BQArd. £3 16s 4d; Harbour Boafd, £1 9sT5dT Taranaki School' C!pmmission"ers, 15s 9d; Mrs.G, A. Houlahan (Kent Road), £300 13s 3d: Gireiuer, £1 I©S; total, £575 16s 7d.'' - ••!,.-' Bankrupt, . in his statement, said he went' fin to the. farm '» in. Aoril, 1902, giving £1160 for it. • He »m>Jrfed *700 from Govei-nment Adfaftcosv to* tlers, £200 oh * second' nioftgage^ from Mrs Stock; &nd from Mr Bhailer W-eston on third . mortgage.* Ho borrowed £230 from his. sifter., and bought stock with it, and paid the balance of purchase ,monov t and costs of convoyance, etc. Ho'lrad had. siVtnilking; seasons, and received £7Q9 from t.lio factory, o> £128 a year. iTJosides that he h«d tlie »ii; and calf nionpy; . He could not ctit the -blackberries- by- his 'ow'lti l.nboui\ alone,, and paid approximately j £34 a year in labour, besides house labour. ■He 'had lost -a>r number ( of cows through sickness and f aociden'ts. v He had iiuri to pay- interest on all the borrowed, money,- and had 1 never been extragavant in any form.- He put down his failure ~to the frfct that his farm could not produce . enough to pay for I labour • required, for losses in cattle, and for .interest .on borrowed money. ge had not sufficient money .of his own make the farm a success^ He had put in " £150 pf his vvfct money, which hp had Received after lio had bouglit the farm, -and a further;;. £100 . borrowed from Mr Weston; f afldwa.baus. j|7s that he had borrowed from "other creditors. . In h,is examination^ bankrupt^stated that he' held a SehoW Commissioners* lessc of nine a.cres and paid £1 11s 6d a year rent. Thc v interest to Mrs Stock

was 7 per cent. . , Mr Price moved, that the stock and equity loitheCf&tm should be sold by Messrs Vickers and S,torens on some date -to suit them fiefo^e Etfster.— Seconded by Mr.Ansfotd and carried. - On the. motion o& Mr ■ Thompson, geconded by }§t Ansf6rd. bankrupt was allowed to retain his, I^--Mr Price stated tli*t tho -horse <^n? trap" belonged td f Mrs "Ciah'^rJf© ISwK preaentiad'thein ,to liei;. ' '• \ -• -^ ; Mr Thompson T sAi^ fio "considjapetr banknipt's position was a case oi v tas>riffiGient'capital rfnd Hard luok. Mr Price sxated that bankrupt had lost a lot 6f cattle at diffo*ent times. Mr JVfedJe^ stuted that there were shares in the factory fully paid up, and they would probably fetch fuU. value; The meeting wn§ adjournod sifte die.