HIGH FINANCE.

Wanganui Chronicle, Volume LXXVI, Issue 17779, 30 January 1920, Page 5

HIGH FINANCE.

BUT UNREALISED EXPECTATIONS. MRS. GRACE MOORE’S AFFAIRS. CREDITORS ASK QUESTIONS. A meeting of the creditors of Mrs Grace Edith Moore was held at the Courthouse yesterday, before Mr E. M. Silk, the deputy Official Assignee. On behalf of the bankrupt Mr T. B. Slipper said she was adjudicated a bankrupt on the 17th inst.. and her position was now dependant upon her family affairs. He could not say what the exact position was, but other relatives were concerned. She hoped to pay her creditors in full in about a fortnight and he suggested the examination should be adjourned. Mr ‘N. G. Armstrong: The Creditors would be delighted to knoilr they were going to be paid in full. A creditor: We have been hearing all sorts of stories. The Deputy Official Assignee said he had no information except a list of debts totalling £995 4/1. He proceeded to read the same, the chief creditors being Therkleson Ltd., £107; Paul and Coy., £113; Gregor Gregor, £5 50; and H. M. Helm £7O. Mr Bellve: Those are not all the creditors. Mr Silk: It is all that is on the list. In reply to questions by Mr Silk, the bankrupt said Therkleson’s account was for furniture and Paul and Coy.’s for clothing for the children. Mr Helm’s account of £7O was in connection with a property she purchased. She expected her brother to send her some money, and as it did not come she borrowed £550 from Mr McGregor to acquire the property she was after. The only security she gave for the £550 was a P.N. She paid £250 on the house she bought at Gonville and £250 on another property at Sandy Hook. . . Mr Silk: What are your expectations? Have you any assets?—No, but I expect to get family assistance. Are you at the mercy of them?— I am legally entitled to a certain amount. There has been money due to me since I was 21. I should have been getting £5OO or £6OO a year. In October of 1918 I got £250 from my brother at Levin and for about six months after that my mother gave me between £3O and £4 5 a month. When you incurred the debts what expectations had you of paying them?—l expected to receive the rponey owing to me. I have not come here to defraud my creditors. Mr Bellve: Do you remember telling me you had £9OOO through the bank?—No, I did not have it. Do you remember saying your affairs were all settled ?- —My brother led me to believe he had put a draft through. A further question by the Deputy Official Assignee elicited the fact that bankrupt had borrowed £7OO from a Mr Osborn at Foxton. Mi- Hussey: Di,d you have a bank account? —No. But you issued cheques?—Yes. on the National Bank where the money was to be lodged. Do you remember telling one of Paul’s employees you had bought two houses?—Np. Have you a cheque book?—No. You gave a cheque for the deposits on the houses? —When Mr McGregor gave me £550 I used £5O and paid £250 on each property. I also gave a cheque of £lOO on a motor car in anticipation of the money coming. A man at the motor garage filled it in. Mr Mewburn: When you purchased some goods at Crichton and Newman’s you said the Public Trust would send the money along?—Oh.' no, the young lady there must have misunderstood me. The examination was adjourned in order that bankrupt might furnish fuller details, the creditors in the meantime being cheered by an assurance that if the money came she would be able to settle her debts in full.