BANKRUPTCY.

Dominion, Volume 1, Issue 68, 13 December 1907, Page 9

BANKRUPTCY.

MEETING OF CREDITORS. *

'A' meeting 'of creditors in the bankrupt estate of David Alexander, Taylor, saddler, of Wellington, was held boforo the Official 'Assignee in Bankruptcy (Mr. James Ashcroft) yesterday morning.

Tho statement of assets and liabilities showed the amount owing to unsecured creditors to be. £78 18s.; secured creditors, £97; stock-in-trade, book debts and cash in hand, and property wero represented by the word "nil."

' The estimated surplus from tho securities was set down at £53, leaving a deficiency in tho estate of £25 18s. Tho list. of unsecured creditors was as follows: —Levin Meat Co., £34 17s. lid.; E. Sutherland, £14 7s. lid.; Wong Wah, £6 12s. 2d.; A. Wardle, £6; M'l'arland Bros. K £6; Paul and Barracloiigh, £5 10s.; Reynolds and Co., £5 10s. Secured creditors: H. J. Sweeney, £70; Dwan Bros., £27. The securities held covered the household furniture and effects. The bankrupt was a saddler in.the Permanent Force, earning £12 por month. About eighteen months ago, he stated, he had purchased, for £200, a boarding-bouse. No. 95 Molocworth Street, from Mrs. Harding, paying £100 in "cash, borrowed from Mr. Sweeney. Tho balance was securod by a bill of sale to Mrs. Harding, and subsequently transferred .to Dwan Bros. Of this amount, £73 had been paid off, leaving owing to Dwan Bros, tho sum of £27. Bankrupt hat! also paid olf £30 of his ilh debtedness to Sweeney. He attributed his failnro to tho high,prices ruling. The management of the boarding-house was in the hands of his wifo. .- Bankrupt had paid tho rent of the boarding-house (£9 per month) out of his earnings.

It transpired that the secured creditors, Messrs. Swosnoy and Dwan Bros., had not registered their securities.

After some discussion, it was that tho furmturo and goodwill of tho boardinghouse be offered for sale a3 a going concorn, tho negotiations to bo left in the hands of Messrs. Dwin Bros.