IN BANKRUPTCY.

Wairarapa Age, Volume XXVIII, Issue 7939, 12 January 1906, Page 5

IN BANKRUPTCY.

IN RE JOSEPH CREELMAN. The adjourned meeting of creditors in the estate of Joseph Creelman, adjudicated bankrupt, was held in the Court House yesterday morning, before Mr W. B. Cheniiells, D.O.A. The creditors prenent were Messrs M. Caselberg (W.t, 0.A.), G. 11. Perry (J D. Or'iick , shank and Co.), J. C. Ewingfcon, E. Cheeseinan (Blenheim), and J. King (Massey-Harria Company). Mr R. K. Jackson appeared for the bankrupt, Mr B. J. Dolan for the Official Assignee, and Mr C. A. Pownall. as agent for Mr MeCallum on behalf of the creditors. Mr Pownall raised the point that bankrupt should not have tiled in Masterton. as he had not lived in Masterton for the greater part of six months immediately preceding hia filing as required by the Act. It was the request of the Bleoheim creditors that the proceedings should be transferred to that place. However, the D.O.A. noted the objection, and the examination was proceeded with. Bankrupt, on oath, stated he had been a farmer for about seventeen years in Masterton. The net proceeds of the stile of his lease of the farm of 150 acres on the Upper Plain was £l5O, and the lease of his stock and plant amounted to £lB5. He had cash in hand amounting to £36 6s. He had £460 14s 5d left after settling up before leaving Masterton for Wanganui in April, 1905. He then owed about £3OO to creditors in Masterton. He bought a boarding-house for £4OO .in Wanganui in tbo hope of paying off hia creditors. Ho was in the boardinghouse about five weeks and sold out. After paying all expenses in Wanganui he bought a hotel in Blenheim for £3OO, and then had £lll 12s Id ( in band. Of this amount be forwarded £IOO to Messrs Bunny and Dolan, of Masterton, for distrihution among his Masterton creditors. This left about £2OO owing to Masterton creditors, and £ll 12s Id in hand. He obtained £567 16a from the sale of the hotel, and of thia £312 was deducted by Mr McOallum, solicitor, of Blenheim, as owing. The actual cash balauce from the hotel was £137 12a sd, and this was increased to £196 10s 5d by a promissory note. This was disposed of in paying o£ sundry [debts and in travelling through Hawera, Dannevirke, and Masterton in s9aroh of property. He estimated bia assets at £B2 ISs. His wife bad no property nor any money in the bank excepting that the proceeds from the Wanganui boarding-house were banked in her name, but this was used to purchase the hotel at Blenheim. The takings at the hotel did oot amount to anything near what was estimated by the agents. By Mr Pownall: Jtlis reason for filing was on account of his being pressed by the Bienhiem and Masterton oreditors. When he left Blenheim he had approximately £6O and made no effort to compromise with his Blenheim creditors. His two sons were not partnere in any of his transactions. By Mr Jackson: Since he returned to Masterton he had attempted to pay a portion of his debts. He had offered to distribute two promissory notes among nis creditors, but they refused to compromise with him. At the present time he had no prospects. He had about £3O in bad debts in Blenheim, but he did not expect to receive payment of them. His reasons for selling out in Masterton was on ' account of the death of two of his . children and warning by the doctors that the climate "did not suit his wife. The meeting then adjourned sine die.