MEETING OF CREDITORS.

Waikato Times, Volume XXVI, Issue 2122, 13 February 1886, Page 2

MEETING OF CREDITORS.

The first meeting of the creditors of David Bruce was held in the court-house, Cambridge, on Thursday. Mr J. S. Edgecumbe. Deputy Official Assignee, presided. There were present Messrs Isaacs, J. S. Buckland, R. Davies, Gemmell, J. Macfarlune, Moisley, and Capt. Souter. The schedule showed; the liabilities to be £190 3d, all unsecured, and the assets, consisting of stock in trade, £128. The principle creditors are : Isaacs, £32 ; W. J. Hunter, £30 3d ; J. Wright, Te Awamutu, £13 ; Waikato C. and S. Co., £10; J. S. Buckland, £22; Wells and Soutter, £15. The statement of the debtor showed that he is a contractor at the Waotu bush, doing carting for the Waikato Timber Co. He lost'conslderably carting for Clements. Mr Isaacs issued a writ to recover £52, which he was unable to pay, therefore he filed. The property seized belonged to his brother, Alexander Bruce. He has no other property. He owes £6 for wages not included in his schedule of liabilities. There was a sum of £20 owing to him by the creditor on contract account, which would be forfeited if he did not complete his contract. The debtor was sworn and examined by Mr Dyer, who appeared for Mr Issaacs, stated he kept no proper books and no account of cartage done. He was under contract with the Waikato Timber Company at Waotu> He bought a team of horses at Buckland's aaleyards, but delivery was not given to him. His brother paid for them, to whom receipt was not given. He never paid anything on them. He hired them from his brother at 7s Gd a week each. His brother was working for him, and he had lately; paid him £46, which included wages, hire of homes, &c. They were square between them. He had used hones for about six months After some discussion, the debtor having made an offer of 7s 6d in the£ payable in six months by instalments, Mr J. S. Buckland proposed that the debtor guarantee to pay 10s in the £, in six months, failing which, bankruptcy proceedings to go on, and the estate be realised. This was seconded by Mr Isaac*, and carried.