A BUILDER'S BANKRUPTCY.

Dominion, Volume 2, Issue 451, 9 March 1909, Page 2

A BUILDER'S BANKRUPTCY.

Tho first meeting of creditors in the bankrupt estate of Conrad Christian August Wilkilling, builder, of Islani Bay, was held yesterday before tho Official Assignee (Mr. A. Simpson) and six creditors. , . , ~ "Well, gentlemen, I hsve not much to offer you this morning," remarked the assignee, "upon opening the meeting. ; •. In a written statement, debtor dated that ■ibout fonr yours ago ho was in a thoroughly financial position, the few debts he owed bcinu more than covered by hi* plant and inoiioy in tho bank. Up to that time he had been contracting. He then bniglit some sections of land from Mr. Antico, near. Kpwlown Park. Land was high then, but ho considered that bo cot tho land fairly cheap. On this land ho erected four housos, and, to do this, he had to borrow .41950, the whole of which was used in paving for the land, labour, and building matcrials. Unfortunately, however, he could not raiso sufficient to pay for the whole of the materials, and, being unable to sell, he was forced to file. About two years ago he lost about Xl3O nn a contract, to orect the Primitive Methodist Church in Donald ll'Lcnn Street. JIo altribued this loss to taking the contract too cheaply. ITe also lost about ,£l5O on a building which he contracted to erect for Professor Maclaurin. .... , The amount slated to bs duo to unsecured creditors was shown at .CSGI 12s. Id.; secured creditors, .£2110; less estimated value of securities, X 3017; siock ill trade, £i; book debts, I ,C! 9, estimated to produce .£27; surplus from securities in hands of secured creditors, J!C37| estimated surplus, .4107 Is. sd. The principal unsecured creditors were:— M'Leod, Weir, nnd Hopkirk, .£23 Bs. j Robert .Martin. Ltd., .£42 25.; Taupo l'otara Timber Co ,C 10; Troupe Bros., JMG ss. Id.; G. Winder, £G? I2s Sd.; H. Hansen, ..CM; Stewart Timber Co .£3l ISs. 3d.:' Crnbtrco and Sons, £41 19s. 3d ; 13. W. Mills and Co., .CtGG 10s. 2d.; T. Hallinßcr nnd Co., .£23 14s. Od.j total, .Kβ! The secured creditors were:—Campbell and Scott, .£350; Mrs. If.vau, »; T. W. Hislop .£100; Mrs. Ross, .£550; Wellington Timber Co.,' .CIS 0; Jlr. Frntcr, .£550. A creditor suggested a public examination. The Assignee: Will you guarantee the costs? The creditor: Ao. The Assignee: I can't do it otherwise. It was decided to dispose of Iho securities in conjunction with the mortgagors, arrange, incuts to bo left to the assignee.