IN BANKRUPTCY.

Western Star, Issue 1116, 15 January 1887, Page 2

IN BANKRUPTCY.

ESTATE OE STEPHEN BURGESS, HOTELKEEPER, RIVERTON.

A meeting of creditors, in,this estate was held in the. Courthouse, Invercargill, on Wednesday. The DeputyAssignee presided, Mr Anderson appeared for the debtor and Mr Brodrick for Messrs Whittingham Bros, and Instone.—The debtor’s statement showed his ■ liabilities to be £2BB 19s 3d (of which £BO was due to a secured creditor), and the assets, secured to the extent of £BO, were valued at £257 10s, the apparent deficit therefore being £3l 19s 3d. The secured creditor was F. P. O’Reilly (secured by bill of sale over furniture in hotel valued at £121), £BO. The principal unsecured creditors were :—Whittingham Bros, and Insfone, £99 ; Surman and Co., £4O; J. T. Martin, £25 ; N.Z.L. and M. Agency Co. £lO. The unsecured assets wore stated to be as follows: Stock-in-trade, £25; book debts estimated to produce, £B2; surplus from securities, £67; and cash in hand, £3 ios. •... ;■ .

The Deputy-Assignee said that the furniture had been valued by Mr J. R. Mills at £lls, but that amount would be absorbed by Mr O’Reilly’s secured claim and Messrs Whittingham Bros, and Instone’s claim for rent. The stock was worth about £lO, which, with the book debts, was all that would be available for the unsecured creditors. He estimated that there would be about £SO to pay £195 19s 3d. The debtor, examined on,oath by Mr Brodrick, said that he had been forced to file through bad times and a good deal of trouble. The New Zealand L. and M. Agency Co. pressed him for the payment of the rent of some land he leased, and one of his reasons for filing was to get rid of the lease. He went into the hotel three years and a half ago, and had then £SO and furniture of his own worth £lO or £l2l Other furniture was put in which cost about £230. None of the: furniture has since been taken away. The majority of the goods for which Whittingham Bros, and Instone claimed had been obtained in December, and during that month he paid £lO to the firm named and £6 17s to the Bank of New Zealand. He had had some property in South Rivert'Ui, but he had sold it to a man named Smith. The Building Society afterwards got the property and sold it to his (debtor’s) brother. He had got the £BO from Mr O’Reilly about four mouths ago. By Mr Anderson : The hotel had been in his own hands for three years, and during that time ho had paid £2325 to Whittingham Bros, and lustone. The rent paid to that firm had been £1.3 per mouth, and they would not reduce it although repeated applications had been made to them. His takings during the Christmas holidays had not amounted to more than £l2.

The Deputy-Assignee thought the case was one which should come before his Honour Judge Broad, and the debtor would therefore be publicly examined at the sittings of the District Court on the 22nd inst.— ‘ Times.’

ESTATE OF G. J. A. RICHARDSON, STOREKEEPER, MERRIVALB. A meeting of creditors in this estate was held in the Courthouse, Invercargill, on Thursday. The Deputy-As-signee (Mr E. Macleod) presided, and Mr Morrab appeared for the debtor, whose statement showed his liabilities as amounting to £272 2s 4<d, and bis assets —consisting of book debts, £76 3s 7d ; sawmill plant, £l2 ; store, &c., £81; shares in two mining . claims,

£l37 —total, £3OB 3s 7d; leaving an apparent surplus of £3l Is 3d. The principal creditors (all unsecured) were —R. Ford and Co., storekeepers, Otautau, £125; McPherson and Co., Invercargill, £SB 4 s 3d; James Ashbury, Merrivale, £23 17s Sd; and Matheson and Co., merchants, £ls 4s 4d. The debtor, examined on oath, stated that he had started business about March last, having for several months previous been manager of the Merrivale station. The claims in which he owned shares had turned'out very badly. He had put them by, paying part in money and doing work for the balance. He could not say what the book debts would realise: to collect some of them a person would have to carry on the store. The debtor had got goods to the amount of £o 14s Id from Hall and Co. In reply to Mr Hall he said he did not lead him to believe tftat he was still manager of the station. The Deputy . Assignee said he thought there was very little the estate, but he would make en- j quiries anu Import as to the value of j the stock and store. Ti'? meeting then j adjourned, j