MEETING OF R. J. DUNCAN'S CREDITORS.

Wairarapa Daily Times, Volume 2, Issue 143, 25 April 1879, Page 2

MEETING OF R. J. DUNCAN'S CREDITORS.

(From the New Zealander.)

A meeting of the creditors of Mr R, J. Duncan was held at the Supreme Court yesterday morning, relative to the advisability of assenting to a deed of assignment made by the debtor. Mr Bell considered that an adjournment should take place, He had several questions of an important nature to ask, which for certain reasons ho could not press at the present time, Mr Stafford concurred with Mr Bell, and suggested that the meeting be adjourned for a week, In his opinion it was necessary that they should be acquainted with Mr Duncan's estate, before asked to consent to a deed which would bind the whole of the creditors. If the investigation did not take place, and the deed was assented to the unsecured creditors would be unable to participate in the estate. Mr Port proposed that the deed, of assignment made by the debtor should be assented to.

Mr Harris proposed as an amendment, that an adjournment for a week be assented to, and that Messrs J. M'Donald, W, Berry, W. H. Wallace, F. 0. Kreeft, and L. Harris, be appointed to investigate the estato in the meantime, and report to the meeting. . Mr M. L, Marks seconded the amendment,

Mr Quick said the bankrupt had handed everything over to the trustees, and that the question of the unsecured creditors could be arranged under the deed of assignment as well as in bankruptcy. Mr Duncan said that at a private meeting of his largest creditors he had laid a full statement of his affairs before them. As to the allegation made by a Wellington newspaper that he had not filed a full and explicit statement it was a deliberate falsehood. He hoped that the fullest investigation into his affairs would be made.

The amendment was then put and carried unaminously.

The statement filed by the debtor shows the following liabilities: Secured, LIO,V3Bj unsecured, L 8192; total, L 18,930. Assets -debts owing, L 3977; do doubtful, L 2502, taken as L 500; property, encumbered, L 8430 ;do unencumbered, L 430; deficiency, L 5593. The debtor accounts for his deficiency as follows:—Bad debts, L 4439; doubtful debts, L 2502, taken as L500—L2002; loss on New Zealander newspaper shares, L 175; making a total loss of LGGIO.