MEETING OF CHEDITORS.

Timaru Herald, Volume XC, Issue 13289, 18 May 1907, Page 6

MEETING OF CHEDITORS.

IN THE BANKRUPT EST ATI-: OF R. R. JOHNSTON:

A meeting of creditors in the bankrupt estate of Robert R-eginald Johnston, of Timaru, groom, was called for yescerday morning. Bankrupt and his solicitor, Mr O. T. J. Alpers attended at the office of the Deputy Official Assignee. There wera no creditors presant.

Bankrupt's filed statement showed liabilities to unsecured creditors amounting to £9O 16s Sd; made up as follows:—Dr. Bowe £23; J. Maa and Son £ls lCs; N.Z. Loan and Mercantile Coy. £l3 10s; E, B. Aymes £9 15s 2d; T. Fergusson and Co., co*achbuilders, £3 12s 6d; Trengrove, coaehbuikler, £2 10s; Timaru Post Co., 10s 6d. Tha only assets were book debts amounting to £6 7s 6d, leaving a deficiency of £B4 Ss 2d.

Bankrupt submitted a. statement in which it was shown that he purchased the Berwick Street stables on January Ist, 1905. His capital then amounted to £2O, but a friend backed him for the balance of the purchase money, £IOSO. He continued in possession until January Ist, 1906, when he sold out for £875. D uring that first year he contracted a serious illne.v'j, and was laid up in Mrs. SomerviliVs Nursing Home for fourteen wseks. His illness cost him £9O, and continued poor health made it necessary for him to sell out, even at a loss. He attributed his position to this cause. While in business he lost about £3O by bad debts. Since giving up business he had been employed by his successor as assistant at £2, per week. He was unmarried, but supported bim mother to tho extent of 10s a week. Pressure by various. creditor:; !"d compelled him to file. With tits exception of his doctor's account his liabilities were all incurred in the cour.se of business. .