MR T. MORRIN'S BANKRUPTOY.

Ashburton Guardian, Volume VII, Issue 2164, 4 July 1889, Page 2

MR T. MORRIN'S BANKRUPTOY.

4 ■ -■■- (MR PBBHB ASBOaU.TIOir.) '.--,. , Auckland, Jaly 9, The first meeting of the creditor! In the estate cf Mr T. Morrln; bankrupt, wm held to-day at the offislal Assignee*! offiae, The statement of the debtor wa^epud, and the following extract shows his position t —-" I carried on business, at . Auckland u merchant and Ironmonger In partnership with my brother, A Company (T. and S. Moirln and Go,) was than formed, la whloh I was s very large shareholdwi My shares, however, were oharged with a liability to m»ke good any loss sustained by the 0 >rapany through non-payment of debts due by the fitm of T. and 8. Morrln. and transferred to the Company. A large defiolt resulted under this head In ccnafquonoe of the depression- having severely affnoled large aoooants^ aid large snraa were oharged to my aooouqt with the Oompeny. My shares were, realised, and on the whole of my transaction with tha Oomp»nv I started a debtor to tfca fx eut ef £13 ; 19^ Hi Hi. From the establishing of the 0 >mpany till Deoamber last, *btn r roa'gned, I was Man*glng DlrfO'or of the Cocapany, and during that tine I w«9 not in bqejqm oq n» on ■■■-■■'■■ v - P-"

a&oonnt. At the Urne o< the focmaUoa of the Company I had large Inter* ata In landed property In the Waikato aud m the Wellington provlnoe, on wbiob. I *xpssded large auma la Improvement!, which proved entirely naremuaerative, and about two and a half years ago my■elf aod partners assigned the whole of the properties to the mortgageen. Mv liabilities, lnoladlng the debt tf £13,196 lit lid to tbe Company, nmouat 10 £17,33? 10j 4i ; the ualDcambered »sseu •re iaud, Bhip,jl»g. and Australian m ning thtreß, valued at £1605; other propeny, £105 ; totat £1710" There are also som* mortgtge properiUs to the valuu of £2000 bat no tqaitita are likely to retail iherufrom." _.