MEETING OF CREDITORS.

Star (Christchurch), Issue 6829, 17 April 1890, Page 2

MEETING OF CREDITORS.

«, . In re J. Andersen. The first meeting of creditors in the estate of Jorgen Andersen, watchmaker, bankrupt, was held a!; the Official Assignee's office at 11 a vi. to-day. There waa a quorum present. The Official Assignee, MrTbomas, presided. The bankrupt's statement showed unsecured creditord £220 la 2d ; secured, JEB2O (estimated value .£670), balance .£l5O. Total liabilities. .£370 Is 2d. Assets— Stock-in-trade, £250 ; book debts, £15 ; furniture £70 (over which H. Marks ha 9 a bill of sale to secure £75) ; other property, £10 ; total, £275 ; deficiency, £95 Is 2d. The unsecured creditors are Hayman and Co., £41 10s ; LaDsdale Bros., £13; Bothschild, Jacob and Co., £29 13s sd ; X, M. Morten, rent £24 ; Berenß, £21 10a ; Butcher, £13 ; Dr . Irving, £9 14s 6d ; Lyttelton Times Company, £& 19s; Press Company, £6 10a; Ballancyne and Co., £6 9s; H. Pannell, £o ss; Partridge, £4 10.?; J. Johns, £3 12s; K. A. Lock, £2 ; Raddon £1 8a 3d ; Union Printing Works, £1. The secured creditor is Hyman Marks, who holds a mortgage over three acres of land and house at Papanui,. occupied by the debtor. The bankrupt stated that he had carried on business a3 a watchmaker a littlts over two years. He had no capital when hestarted, except £10. which he paid to Mr Hayman, who gave him goods to the value of £20. His shop in Hereford street was held on a monthly tenancy at £4(i3 Bda month from Mr Morten. He had filed in consequence of pressure pub upon him by Mr Berens, Dunedin. His life was insured for £500, bub he had paid no premiums tor two years. He bought the property atPapanui from Marks for £900, in December, 1883. Paid £150 upon it ; had spent £300 in improvements, and had paid 8 per cent on the balance of the purchase money. In reply to questions the bankrupt stated that he was paying £50 a year to Mr Marks for the house at Papanui. Mr Marks said that the debtor had wished to give up the property, and he had offered to allow him to retain possession on, paying £50 a year in the hope that he would be able to pull round. The bill oi sale had not been cancelled. He (Mr Marks) would take £550 for the property, and hand it over to tho creditors. He had put in a claim, which ha thought was a valid one. After some discussion the debtor said that the only offer ho could make was that if Mr Marks' claim was not allowed, he would be able to pay 10s iv the £, if hewere given twelve months' time. After some further discii3siou the meeting was adjourned to 11 a.m. on Monday, to allow of legal advice being taken as to Mr Marks' claim, and to see what offer the bankrupt; could make.