MEETING OF CREDITORS.

Press, Volume LXI, Issue 18412, 19 June 1925, Page 11

MEETING OF CREDITORS.

ESTATE OF W. J. DENNEHY.

(special to "the PBESS.") ' GREYMOUTH, j„ no ig.

A'mcoting of creditors was held this nftcrnoonin tho bankrupt estate'of Wiliiam Jdhn Dcnnehy, contractor, of Ten Mile. Mr A. Naylor, Deputy Official Assignee, presided, rihd "Mr J. W. liannan represcuted two of the creditors.

The list of unsecured creditors was as follows: —W. "Wood and Co., Christchurch, £100; D. Mckean, Ltd., £45 14s; W. J. Jeffries and Co., '£10;. Dispatch Foundry Co., £ls;-Vacuum Oil Co.. £32; F. Wade, £4 33s Id; W. S; Clarke. £2 12s 6d; T. Batv, £7; Boucher and Co., £lO I.ls lOd; S. Baddoley, £4 15s: Ashby, Bergh and Co., £6 10s; State Mines, £3 Is 6d; 11. Hahn, £l9; Ogilvio and Co., £2B; K. Williams, £IS Is; Mrs Martin,. £ls 8s; Manson and Co., £1;. Christchurch'Hospital, .£42 ; Wellington Hospital, £4O; N. Mouat. £.12; B. Kocti, £18; t0ta1,'"£455.6s lid. A debt of £l3O to the. Hokitika Savings- Bank was securod, but' there was a, mortgage of £BO against this," making the total liabilities £505 16h lid. The assets were stated, at £BO. In addition' there were tools valued at £2O, but these are in the-hands of the Public Works Department. The bankrupt stated that he was solvent in 1921, but in May of that year ho took a contract with the Public Works Depart-, ment to build the Seven-Mile Creek railway bridge. The contract price was £llsO. He worked on this for four months, and received payments totalling £157,-leaving £420 owing. The Department took the contract out of his hands. He anticipated that there would be sufficient contract moneys left, to pay him £420. The Department took a year and ten months to complete the bridge,and informed him there was a deposit of £BO and nothing left for him. For five months following tho termination of the coutract he worked at getting timber for thePublic Works Department, and during that time reduced his liability by £SO. He then took up a coal prospecting license at Ten Mile, and expended money in opening up. an area. Sales of coal brought iu about £425, while the amount spent totalled £641. Jn August, 1924, he discontinued this work. It was not until July, 1924, when he went to Wellington and interviewed tho Department, that he realised that it would pay him nothing. Since August he had worked for wnges at Wataroa and Barry town, and had reduced his liabilities by about £IOO, but pressure from several creditors had compelled him to file. The coal prospecting license had been allowod to run out. A hut Which ho had purchased for £l2 stood on a road reserve on the Ten Milo Hill, but it was only of value for removal. His motorlorry had been taken over by his brothers, who had completed the payments on it. The only article now. owned by his brothers which might have been aa asset of the estate was the motor-lorry. Tho meeting was adjourned. ~