MAIN TRUNK

Wanganui Chronicle, Volume 73, Issue 428, 20 November 1930, Page 3

MAIN TRUNK

TAIHAPE IN BANKRUPTCY. A meeting of creditors in the bankrupt estate of James Patrick Kelly was held in the office of the Deputy Official Assignee (Mr C. Masters) on Tuesday. Bankrupt was represented by Mr AV. H. Maclean. Bankrupt’s financial statement disclosed the following position:— Inabilities —Unsecured creditors £1985 10s lid. Assets—Book debts estimated to produce £3O. Deficiency—£l9ss 10s lid. Bankrupt made the following per sonal statement:—

“I attribute my bankruptcy to losses sustained through the Otaihape Timber Company in which I had £4.500 invested, going into liquidation and also to my farm property at Taihape being sold iip by the mortgagees. In September 1928, having.assets exceeding liabilities to an estimated value of over £5OOO, I purchased the freehold of the Argyle Hotel at Hunterville for the sum of approximately £15.000. by pledging certain securities and taking over the liabilities of the existing encumberanees thereon.

That business was carried on successfully until about March 1929, when owing to the slump in the timber market and other difficulties over which 1 had no control, the Otaihape Timber Co. Ltd. went into liquidation and I lost all thp capital I put into it 1 also then became liable for certain monies in respect of joint and several guarantees I had signed in company with the other directors in order to help the company over tiim->. “Mv f —rtv at Taihape then • b-u-k on lay li: nds. causing considerable expense and !•».-> of interest on capital invested. “This property was later sold up by the mortgagees/resulting in a further loss of over £lOOO. “Although pressed by my creditors I continued in the hotel business and paid them off, over £lOOO of my liabilities. In March 1930, however. I was unable, owing to the large amounts that I had paid to outside creditors, to meet certain payments in connection with the hotel, and as a result of th.one of the mortgagees called up his account. “In this position I was, without seeking independent advice, persuaded to assign the hotel property with plant, stock and furniture to the mortgagees, hence my not having any assets to offer to my creditors. “Had business continued as it was. and had my creditors given me a reasonable chance, seeing that I was doing all in my power to pay them, I feel quite confident that I could have carried on successfully and eventually liquidated all my liabilities.

Examined by the Deputy Official Assignee, bankrupt said he took over the Argyle hotel iu September, 1928. Ho put £lO in cash and household furniture to the value of £5OO into the hotel. The business showed a net profit of £lOB7 from September .1928 to March 1930. He had used this money and £6l in addition to pay off debts not connected with the hotel. These debts were paid under pressure. “If the business continued as it was. and I had not paid these debts I could have carried on quite well,” added bankrupt. Further examined, bankrupt said that when he assigned the hotel business to the mortgagees he lost all the furniture which he had put into the hotel.

He took about £25 per annum from the hotel for his personal use. He assigned the hotel because he had large payments off principal to meet, and also interest, and he could not meet them.

If he had not taken this course hwould have been sold up. His wife had a property in Taihape. but it was mortgaged. He owed about £l4OO before he went to Hunterville. He had at that time £3.500 fully paid up £1 shares in the Otaihape Timber Company.

He had been promised a job in a freezing works. He had nothing to of fer his creditors. The D.O.A said he required more books in connection with Argyle Hotel business and the meeting was adjourned. “PUNCH BOWL” Thanks to the indefatigable efforts of Taihape’s younger set, an extravaganza florified in its magnificence, alluring and fascinating in its wonderful colourings: with a humour all its own. entitled ‘‘Punch Bowl” will be presented at the Town Hall tonight. Thursday, to-morrow night and Saturday night. For weeks past the Taihape amateurs have been rehearsing for this production under the supervision of Messrs Cardston and Baxter, the producers and the stage is now set for a show that is bound to please everybody—a show that is far too good to miss. It is even better than “Diane Develops.” CHAMBER OF COMMERCE The monthly meeting of the Taihape Chamber of Commerce was hold on Monday evening, the president, Mr W. H. Maclean, presiding over a satisfactory attendance.

In regard to the proposed social evening under the auspices of the chamber. Mr Maclean reported that no reply had yet been received from the Hon. J. G. Cobbe ami Mr J. T. Hogan. ALP., who had been invited to attend. Professor Murphy had advised the speaker that he was unable to accept the chamber’s invitation to attend the function and deliver a short address on economics. The chairman said that if the

chamber intended hoimng the social evening this year it would be advisable to hold it no later than the first week in December. On the motion of Mr Butler it was decided to hold the matter over until after Christmas. Omatane Block Mr W. Nicholls said ho had been informed that the block of land at Omatane at present under milling license to Mr C. O. Gibbs, was going to be set aside by the Government for the use of Flock House boys. If this information was correct he wished to protest as he thought the land should be ba) lotted for in the usual way and that Colonials should be given preference. Mr F. White said the Returned Soldiers’ Association had been informed that the block was to be divided into three sections and thrown open for settlementIt was decided to bring th® matter under the notice of the Member of Parliament for the district (Mr J. T. Hogan*), and ask him to make inquiries, inquiries. General News At the monthly meeting of the Taihapc Borough Council on Friday evening the Oval Domain Committee was granted a temporary loan of £2O to be paid out of the general fund. Councillor de Lautour explained that owing to a poor football season the funds of the Oval Domain Committee had become seriously depleted.

RAETIHI WAIMARINO A. P. H. AND I. ASSOCIATION At the meeting of the committee of the Waimarino A. P. H. and I. Association on Saturday the president, Mr G. E. Bretherton, was in the chair, and there were present, Messrs W. Harris, D. D. McLean, E. T. McLean, Somerville, E. A. Voelkerling, W. P. Robertson, C. Houghton, and the secretarv, A. Windle.

Apologies wore received from several members unable to be present at the meeting.

The date of the annual show was fixed for February 5, 1931, and the ram fair for Saturday, February 7. Mr Harris reported that the fencing had been done at the show ground and the thanks of the Association were due to those members of the committee who had attended the working bee and carried out the work free of cost to the Association.

The offer of Messrs Dalgety and Co. and the N.Z. Loan and Mercantile Agency Company to lease the grounds for five years was agreed to and certain conditions were left to a sub-com-mittee to finalise.

The secretary reported that he had received a number of special prizes from various firms and they were thanked for their donations.

A sub-committee, comprising the president, treasurer and secretary was appointed to consider the outstanding subscriptions and fees due, with power to act.

Several persons who had left the district, but who had not sent in written intimation of their desire to resign, were struck off the list of members. Tn connection with the ram fair a sliding scale of charges for driving and paddocking was agreed upon and the secretary said he would notify intending sellers. It was agreed that shed entries be be charged non-members, and members (id for entry fees. • Mr W. P. Robertson asked if it was not possible to make the grandstand more popular, and it was pointed out that there would be more events carried out in the vicinity of the stand this year, and that should assist the stand rec epi ts. The president, Mr Bretherton and Mr \V. Harris were appointed to canvas the town for donations and special prizes. Programme. It. was pointed out that every endeavour should be made to give a more

spectacular programme this year. Messis T. Langdon and K. McKenzie waited upon the committee as a deputation from the fire brigade with regard to a competition on show day. It was finally agreed that the fire brigade should hold a rescue event. This would prove vefry interesting to the spectators.

Mr D. McLean said that Mr. D. McKinnon had offered a trophy for adriv ing and yarding event for sheep d.jgs in connection with the show. It was decided to thana Air Me Kin non for his offer and tn ask ” r Al .Lean to take charge of the event.

Air Bretherton said he had received an offer from Alessrs Littlewood, Bolstad and Warner to provide blocks and supervise a chopping competition. It was agreed that the thanks of the Association be tendered to these gentlemen and that an open 12-inch chop and an amateur chop be placed on the programme. Stewards.

The following stewards were appointed:—Sheep: T. E. McLean (chief), A. Bott. S. J. Morgan. F. Baddeley, J. Handley, Frank AlcNie. C. IL Ball, W. D. Bell, L. .1. Vile, F. W. Brown, G. H. Ball. C. J. V. Houghton, A. B. Harris. Cattle: E. A. Voelkerling

(chief), Fred AlcNie, E. L. Somerville, F. P. Slattery, A. Burne, C. D. Scarrow, L. Fetzer, Albert Scarrow, L. AlcNie, E. Warren, W. P. Robertson, AL Thompson. Horses and competiions: J. R. Hunter (chief). C. D. Lynch. P. C. Alurray. J. Winks, Albert Scarrow. D. G. Thomson, Q. B. Solly, Duncan. I). Ale Lean, A. S. Ashmore, I’. Baddeley, D. C. Wright, H. C. Howard.

The selection of steward for the shed was left to the secretary.

Sideshows ami trade exhibits: D. F. Scarrow. Dogs, poultry, and pigs. G. G. Burgess. Weight guessing: F. W. Brcwn (chief), H. E. Frederick. Al. Geraghty. Alotor cars: P. ('. Alurray. Protest committee: The President, and any other two chief stewards. Dog trial: D. Grieve, D. McKinnon, A. Al. Alpas.

It was agreed that the chief steward should have power to add to the number selected for any division.

OHINGAITI SCHOOL COMMITTED A special meeting of the Ohingaiti School Committee was held on Thursday evening, 13th, to discuss the method of raising finance to meet commitments for the period ending Alarcb 31 next. The proposal to hoia a school conceit, as suggested at the previous ordinary meeting, was discussed, and it was decided that arrangements be made to hold a concert during the last week of the school term

Mr Fitzgerald, headmaster, said that the school children could provide the first half of the programme, and the matter of arranging for the second half was left in the hanos of Alessrs Charles and McKnight. It was decided that the prizes be presented during the interval. TENNIS CLUB Inclement weather again marred the thrice-postponed “Yankee” tournament on Saturday last, and very few games were played. The following is the draw for the combined-doubles competition (first two sections’). together with the handicaps:

Section 1. —Miss Paterson and A. Charles, scr.; ATr and Airs R- J. Linton, plus 7; Aliss Al- King and R. Bartlett plus 5; Aliss D. Hammond and L Alaher. owe 5.

Section 2. —Miss A. Naylor and A. Linton, owe 10; Aliss AL Thomson and R. Alaher, owe 15; Aliss S. Pritchard and F. Dear, plus 3; Airs Weston and N. Bartlett plus BL The committee hope that as mx.ny games as possible will be played before lhe holiday season commences. Trophies for this competition have been donated by Airs W. Hammond (gents.), and Air R. A- Gower (ladies). GENERAL The many friends of Air J. Goodwin will be pleased to hear that, he has returned home from hospital and is on the road to recovery. Air T. Reardon, the successful tenderer for the contract for laying the pipe lines for the water distribution scheme on the Orongapunga soldiers’ block, is proceeding with the work, which should shortly bo completed.

The suggested penalty for wet wool this season is causing the farmers to hesitate a commencement of shearing operations, and those who shear early to escape the utiwai are wondering which is the worse evil- Shearing gangs on contract arc in a hurry to cut out, and between the three the wool-grower is not having a comfortable time.

HUNTERVILLE GENERAL NEWS A most successful euchre party was held by the boys of the Anglican Bible Glass on Tuesday, when there was a large attendance? The first prizes were won by Airs J. Dickie and Alastor E. Floyd, while consolations were awarded to Aliss N- Bowick and Air Sutton. A delicious supper was dispensed by the ladies.

During the past week the inspectors of the Rabbit Board (Alessrs J. Dickie and F. G. Thorby) have covered extensively the lower portion of the Board’s area, including Turakina Valley and Onepuhi, locating noxious weeds and rabbits.