IN BANKRUPTCY.

Timaru Herald, Volume XIIC, Issue 13919, 2 June 1909, Page 2

IN BANKRUPTCY.

IN RE T. C. DAWSON

A meeting of creditors in the bankrupt estate of T. C. Dawson, painter, Geraldine, was held in the office of the Official Assignee yesterday afternoon. Only the bankrupt, his solicitor, Mr W. Shaw, and one creditor (with a claim for £9 15s in wages) were present. Bankrupt's filed statement showed liabilities as follows: — Unsecured creditors £63,' secured creditors £4OO, less value of securities £290, assets, book debts £4O. deficiency £133, which with the wages claim makes a total of £142 355. The unsecured creditors were N.Z. Hardware Co. £2l, Smith and Smith £23, W. A. Sherratt. £7, J. Craigie £7 Is, R. Griffiths £1 Is 3d, Canterbury Farmers' Co-operative Association £4 Is. Secured creditors, Government Advances to Settlers Department £l6O (value of ,security £24o'!, Guthrie, Bowron and Co. £240 (value of security £SO). In his sworn statement the bankrupt said he started in business in Geraldine about eight years ago as a painter. He did well for several years. Three years age ho gave a hill of sale on his stock to Guthrie, Bowron and Co., as security for the amount of his indebtedness to them, which was £242 6s 9d. He was then solvent. He purchased a shop' in Geraldine, over which he gave a mortgage to the Government Advances to .Settlers Department for £IGO and a second mortgage to Guthrie. Bowron and Co., as collateral security with the bill of sale. This firm took possession of the stock on the loth inst.. under their bill of sale and of the land under their mortgage. He attributed his failure to taking work at too low prices and also to illness in his family, and lie had no offer to make.

It was decided to apnoint Mr Readdie. of Geraldine, to collect bankrupt's book debts, when the actual amount of the estate could be ascertained.