MEETING OF CREDITORS

Auckland Star, Volume VI, Issue 1682, 9 July 1875, Page 3

MEETING OF CREDITORS

A meeming of creditors in the eitate of George Edgcumbe, storekeeper, of JTgaruawhia, was held Ihis afternoon in the offices of Messrs. Hesketh and Bichmond, Wyadhatnstreet,—Mr. McMillan in the chair; The meeting was largely attended. The bsukrupt, it appeared, had been in business for two years, and commenced upon credit, and had realised during that time £360 pro|t; his books debts were £1,800, which he aiwell as Mr Hume considered were all goodj within £50. He was indebted to the Bank j)f JSew Zealand on overdraft account, and |f was on that account his creditors had beenjcalled together. ..» Messrs. Owen and Graham were tjie largest creditors, and Mr. Heather saidlthe firm would not give more than 12s. 61 in the pound for the estate. Mr. Lewis thought that if creditors would allow time, Mr. Edgecumbe might pay 20s. Mr McCosh Ciark thought if Kr Edgecombe could make a definite arrangement with the bank to leave the overi|aft, Mr Edgecombe might meet his engagements, and tradesmen might assist him in keeping up his stock. After a considerable amount of d&cussion it was agreed, on the motion of Mr| Lewis, seconded by Mr. Buchanan, "Thatif Mr. Edgecumbe could not realise more tSan 15s. that the estate be assigned over to trustees, with power to sell back to Mr. Edgecumbe if desirable, otherwise to realise on the estate to the "best advantage. Messrs. McCosh Clarke, Chambers, and Heather were appointed trustees.