MEETING OF THE CREDITORS OF MR E.W. MILLS.

Wairarapa Daily Times, Volume 3, Issue 721, 19 March 1881, Page 2

MEETING OF THE CREDITORS OF MR E.W. MILLS.

: - (From the New Zealand Times). A meeting of the creditors of Mr Mills ■ \ was held at the Supreme Courthouse last Thursday, at 2 p.m. About thirty of the ~ •principal creditors were present, and Mr W. H. Levin was voted to the chair. The Chairman said it was his duty'to offer one or two remarks, and he would do so with no hesitation.. . He was acquainted, with the exact position of Mr ; Mills' affairs, and the events .which had caused the calling together of that gentleman's creditors at a previous .meeting, Most persons were; aware th,at ; in the past difficulties had stared the estate in the face. He believed the resolution which he intended to propose would show them that all conflicting' interests would be overcomo, and they would be asked to ... place the estate in the hands ■of those in ; whom they would h'ave confidence. Mr Mills had placed inhis,hands a statement of the causes which had led him to call his r . creditors together; ; but -he (the chairman) tbought there was no needto make use of the document, for the causes ,which had placed Mr.Mills in his unfortunfi»position were well-known to every creditor in "Wellington, He Was, sure he, spoke the sentiments of all creditors assembled, and all persons in New Zealand who, had, done business with Mr Mills when he said that for 25 or 30 years )hat gentleman had occupied a position which, to him and to his family, must' have beena great satisfaction, and throughout his career had proved himself a thoroughly good. ; citizpn, and a reliable and most honorable man of business. (Hear, hear.) He (the chairman) spoke but the truth in stating thatin resigning his affairs into the hands of his trustees Mr Mills practically \ left liimself. : and; family with , nothing. Ho had unfortunately for him- ■ | self not taken, those*.,-precautions which ; woidd have/ensured some- provision for his family; but had practically abandoned , to those who held claims on his estate ?; every sixpence he had in the world. He " was sure the oreditors, if in their power, ; , would show Mr MiUs every consideration they could, and further remarks : , he would movo that Messrs J. H. Keep, I J. TV. Henderson, and J. Dransfield, be '■ elected creditors' trustees. •; , Mr J. T. M. Thompson seconded the I resolution,, which was put to the meeting ; and earned unanimously, j Mr Thompson then proposed that the remuneration of the trustees should be

five per cent, of the 'gross amount paid to the,creditors. The proposition was seconded by Mr Nathan, and, on being put to the meeting was earned. . Mr J. H. Keep proposed that Mr Mills ; should he granted the whole of his furni- : turoj and a sum of £SOO as maintenance. In maiding this proposition Mr Keep said he was sure this was the wish of all present, He himself would claim to be' second to none in having the deepest sympthy for Mr Mills*. He understood his misfortunes'and knew his affairs perhaps in a'way which most present did not. He had.a great interest in Mr Mills' \ welfare, and hoped at a future day to see him restored to a position of prosperity. ■ He hoped the proposition ■ would enable Mr Mills to get back the business, which ■was now lost to him. He would not take up. the time with further remarks, although he should for many .reasons like to say a good deal in detail, hut lie heartily wished to convey .his expression of sympathy and regard ior, Mr Mills, ■ Mr Nathan, in seconding the proposition, said he was sure the remarks made by Mr Keep would express the sentiments ■ of every person in Wellington, not only those connected with the trade, but every resident, They had all felt the benefit of J having a man like.Mr Mills amongst . them, and he trusted that the vote would 7 havo the effect of helping him to regain his position again, and even placing him in a bettor position at a future date, (Hear, hear.) '_ . _ | The motion was earned unanimously, 'Mr Mills,- in thanking them for their ex- I pressions of goodwill, added that if the resolution implied that lie had nothing in , : the world but what would/cover his lia- \:• bilities, he should decline to accept the v' offer, In his declaration he believed his I estate to be worth 140,000 more than his ], liabilities; and he believed his declaration ;■ to be time. He had a very large and 1 valuable asset, independent of what would pay his creditors. ; Mr Thompson said the resolution was '[ , not passed with any intention tci'-Rirdsr-value Mr Mills' assets, but the creditors ; wished to show that they had been met by a gentleman who had acted straight* j forwardly with them, and it was only due ! that he should be met in a liberal spirit, Provision should be made immediately, , and his requirements looked to. In as- £ ! senting to the proposition, they did so ! freely; feeling that Mr Mills had acted ; I very differently to what some would havo done,

Mr Mills said he wished the meeting to fully understand that he gave them the fullest credit for th'e provision made, but at tho same time he felt bound to state that when lie made a declaration of his position, lie believed his declaration to be a true one.

The liabilities are set down at £150,301, the principal creditors being asfollows. Secured : New Zealand : loan and Mercantile Agenoy Company, Wellington ' 134,211; A. tie B. Brandon, £1020; 1 R. Hornsby and Son; Lincolnshire, £748; J. McEwan and Co., London SB9; W. H. Croßsman and Bro.', New York, £1369; Pigou, Willis and Co., London. £B7; Thomas Elwell and Sons, Wolverhampton £136; Valentine, Pavit and Co., New York, £BS ; Tangyo Bros., Birmingham, £69:' H. Dixston arid' Sons, £162. Partly secured: Bank of New Zealand £53,192 ; Keep Bros, Birminhan, £41,370; Trustees, of Vennel. Hill and Hartndge, London, £357; J. A. Gifford, New York, £361. Unsecured; Levy's estate, Waitotarf" contract, £12,329; Mrs Andrew Anderson, ' Christchurch, £1025; Levin & Co., £1468; Krull & Co., £658 ; W. and G, Tumbull & Co., £437 ;■ Thompson,: Shannon & Co., £784; Stevenson & Smith, £6B; Wallace & Co., London, £IOB ; , J. McEwan & Co., £60,; M. Donoghy, Dnnedin, £248; J. Kitchen &, Sons, £53; Jacob, Joseph & Co., £62; E. Duokett, Melbourne, £285; Longford'lron and Steel Co., Warrington, £150; W.A. Sparrow, London, £9l; Kempthorne, Prosser & Co., £6B; Colonial Insurance Co., £132; Miles, Hassal & Co., Christchurch, £261; C. Johnson & Co., Shefe* j ffeld, £96; Thompson, Sterne & £lasgow, L 456; G. McLellan & Cp„ N Glasgow, L 387; Smiley Briggs; . Leicester, L 112 ;! 'Andrew Lee, Dunediri, L 110; Buckley, Stafford & Co., L6l; Brandon & Son, L 300,, City Corporation, £lB4. The assets are set down at L 197,428, viz., .1 —Landed property, L16'878 18s; household property, warehouse,- &o„ L 55,348 9s 4d; Shares in Tramway and other - ' companies, L 7,335 1? Id; stock .in ware- ;. house, yard, and foundry, L 59,600;: book » debts (good) L 45,400, and bad and doutyful, L 8000; bills receivable, contract i deposits, and cash, L 9973 8 s2d. ' ' There being no further business to ■ transact, the meeting thpn'clpßed. :