Meeting of Creditors.

Dominion, Volume 1, Issue 6, 2 October 1907, Page 7

Meeting of Creditors.

COMMISSION AGENT'S ESTATE. A mooting of creditors in the estate of William Gordon Hutchison, commission agent, was held in the Official Assignee's office yesterday 'morning. Debtor's statement was as follows:— Liabilities, JSGB7 14s. 3d.; assets, .£278 2s. Id.; deficiency, ,£409 12s. 2d. The" principal unsecured creditors were Murray, Roberts, • and Co.. <£80 ss. Gd.; M. C. Hutchison (Lower Hutt), «E73 13s. 2d.; Dr. A. Martin, .£7l 13s.G<i.; South Pacific Mortgage Co., .£SO; Field, Luckie, and Toogood, <£18 12s. 3d.; J. M. Ilogg (Tauranga), «£*ls; New Zealand Times Co., 7s. 3d.; Adams and Harlev (Nelson), .£25 18s. 2d.; Charles Haines, .£23 Bs.; Nimmo and Blair (Dunodin), .£2O 12s: Gd.; D.1.C., .£lB Gs. lOd.; Johnston and Son (Palmcrslon (North), jeiG ss. Gd.; C. M. Banks, Ltd., .£l3 lGs.; Farmers' Union, .£l3 10s.; Lindsay and Co., Ltd.,, 2s. Gd.; and twenty-two others to whom smaller amounts were due. , • The only secured creditor was J. J. Cotter (Lower Ilutt), and the estimated value of his security was .£3O, the amount of the debt. The assets were made up as follow Book debts, <£550 3s. 7d„ estimated to produce ,£ll2 13s. 7d.; real estate, <£G5; one share in Empire Gold and Coal Co., Johannesberg, <£50, a fourth interest 111 Electric Static Syndicate, London, ,£SO; cash in hand, Bs. Gd. Debtor, on oath, stated that lie commenced business in Wellington as a land agent in January, 1900. Previously lie had been in business in South Africa, and had sold out for i£GOO (£250 in cash, and ,£350 in promissory notes). When lie started business in Wellington -ho had about ,£IOO in cash aiul ton he had about .£IOO in _ cash and the p.n.'s before mentioned. The available cash was" absorbed in preliminary and other expenses, and, as lie could not get payment of the p.n.'s, he borrowed ,£l5O, paying a high rate of interest. After a few months, the business proved remunerative,, but he was unable to save owing to heavy medical expenses. He suffered considerable loss through a fire which occurred in the Imperial Chambers, where Jus office was situated, the whole of his business rccords being destroyed. About the saino time he. was sued by Murray, Roberts, and Co., for gMds which had been supplied to Hutchison, Todd, and Co., in South Africa. Judgment was obtained against him for <£80 ss. Gd., and subsequently, through his inability to appear at Court, the firm took out a judgment summons. This led to action being taken by several other creditors, and, as commitment was threatened oil tho order obtained, he filed his petition. Examined further, debtor stated that almost all the household furniture was the property of his wife, who recently raised .£l5O on it, but he had received none of the money. His wife had a third interest in her father's estate, which was valued at ,£24,000. It was not a fact that his wife had .£SOO n year settled oil her besides what her father left her. Ho still held bills (representing J23G5) which had been given him by Todd, who was, he understood, contracting in West • Australia at present. . ' In order that enquiries might be made from Mrs. Hutchison and debtor's father as to whether they would be willing to assist him, the meeting was adjourned until October '.'.15, at 11.30 a.m.