GUARANTEE TO BANK

Waikato Times, Volume 117, Issue 19563, 30 April 1935, Page 6

GUARANTEE TO BANK

DEMAND FOR PAYMENT.

FORMER HAMILTON COMPANY. PLAINTIFFS ACCEPT NON-SUIT. In the case in which four guaran* tors attempted to compel another guarantor to pay the balance of his contribution allegedly owing under a joint-and-several guarantee to a bank which was heard iu the Magistrate’s Court, Hamilton, before Easter, it was announced in Court this morning that the plaintiffs had decided to accept a non-suit with costs of £ll 3s 6d granted against them. Plaintiffs were Veronica Creighton, married, of Wellington, and Zeta Derham, spinster, of Auckland, as adminslratriees of the estate of William Joseph Derham, deceased,, of Auckland ; the Public Trustee as administrator of the estate of Leonard Adams, deceased, of Auckland; John Murray Molloy, agent, of Rotorua; Parker Tasker Upton, merchant, ol’Auckland, aiid James Reuben Molloy, solicitor, of Auckland, as executors of the estate of Joseph Molloy, deceased, of Auckland and Alfred Gillett, of Auckland. Defendant, from whom £72 15s 9d was claimed, was Francis J. Farrell, farmer, of Hamilton. Mr G. E. Clarke (Auckland) ap- _ peared for plaintiffs and Mr A. L. v Tompkins appeared for defendant. Tiie case was one in which Farrell and several other guarantors were directors of the Stevenage Construction Company, Limited, Hamilton. 'To finance the company’s operations the directors guaranteed the money to the National Bank of New Zealand. The four plaintiffs alleged that Farrell had failed to pay his full contributions while defendant contended that he had already paid more than, his share.