MEETING OF CREDITORS.

Star (Christchurch), Issue 9304, 3 August 1908, Page 3

MEETING OF CREDITORS.

« RICHARD WILLIAMS'S ESTATE. A meeting of creditors in the bankrupt estate of Richard Williams, newsagent, was called for this morning, but Mr Tennant, representative of Messrs Gordon and Gotch, was the only one present. Mr Leathern appeared for the bankrupt. The sworn statement showed that Mr Williams had gone into business as a newsagent about four and a half years ago, buying a business in Colombo Street from Fred 11. East, for which he paid £160. About two and a half years ago he found that he was considerably in Messrs Gordon and Gotch's debt. He had been in the habit of settling all invoices, and was surprised to hear that he owed so much money. He did not believe that the invoices had been rendered, but did not J dispute the liability.*- He entered into an arrangement to pay £50 and after- j wards £60 a month to the firm, in payment of the past and then current accounts. This was kept up fairly regu- j larly for two years, but it so crippled him that he was unable to keep the I liability down. He then arranged to j pay £1 6s a week and cash fbr all fresh supplies. His rent was raised, owing to alterations to the building,, and went up until it reached £16 a month, bosides rates. He could not stand that, and took a shop in Lower High Street, whero he did little bnsiness, and finally | filed at the request of Gordon and Gotch. The amount owing to unsecured ere- ! ditors waa £291 12s sd, the principal amounts being: — Collins 8r05.., Auckland, £12; Gordon and Gotch, Christchurch, £140; Christchurch "Press" Company, £25; " Lyttelton Times" Company, £26; H. G. Sheppard, £22 10s; A. Given and Co., Dunedin, £11 2s 2d ; George Taylor, £9 8s 8d ; J. Preece, £6 ss; Christchurch City Council, £7; G. W. Bennett and Co., £5 13s Id; John Norton, Wellington, £13; Hill and Fraser, £0. There were no secured creditors. The assets were: — Stock in trade £150, and book debts valued at £30, a total of £180, which left a deficiency of £111 12s sd. The Official Assignee (Mr Evans) said that the business would be carried on and tenders would be called for it, and the creditors would be informed of the result on Thursday next.