BANK AND BANKRUPT.

Dominion, Volume 2, Issue 611, 14 September 1909, Page 6

BANK AND BANKRUPT.

AND BANKRUPT'S WIFE, J. J. PATTERSON PUBLICLY EXAMINED. I I!y Telegraph.—Sdccl a I Correspondent.! Napier, September 13. Tho public examination of John James Patterson, .solicitor, Dannevirke, was opened this morning before Judge Cooper.,' Mr. Currie appeared for the Official A6s/igttee, and conducted tho examination, in chief. The bankrupt was represented by Mr. Cresswell, and Mr. Lusk appeared for Messrs. Cranby and Co., and Paterson, Mossman, an.d Co. The bankrupt stated that he was a solicitor, but had been out of practice- for some time. He had been adjudicated a bankrupt on August 21, 1908. Ho-was'formerly the proprietor of the business known as Wylio and Co. in Dannevirke, add Mrs; Patterson was now tho registered proprietor of this company. Mrs. : Patterson had received this property in consideration for her share in certain Bunnythorpe' property. It' was very difficult 1 to say if .£3OOO represented tho fair market value of the property. The transfer, of tho /properties was a friendly deal' between himself and his wiio. The Bunnythorpe property referred to was- originally bought with Mrs. Patterson's money, but, as the' creditors ■ were going for Mrs. Patterson, he did not think that he should disclose her alfairs. His Honour , remarked that/ the bankrupt would have to explain everything. Continuing, witness said-that, between tho timo that Yt ylie and Co.'s property - was mortgaged to the bankj and the date : of the trans-J ter to Mrs. Patterson, he had received several 1 mortgages from tho bank, and the whole of the uunnythorpe moneys, . ' amounting to ,£SOOOI Uonderful to relate, ho was then in credit for v" » T J? en want ed tho -bank :to release ttyhes Corner, and, in his simplicity,' thought that they wouH-do it. They said-that they would if he could take out all tho bills which no-had under discount, and pay. Un the 'guarantees. Ho could not do it, however. This was before he had m executed the transfer to ! / 8 Bank -of New South' Wales then pressed, him, and .ho transferred his account to the > Bank of New Zealand, where ho received better accommodation. The transfer was then executed,'and the bank held hf U imn u u WyljeV Corner) amounting to . He then tried to sell the Weber S"V n<l expected 'to got for himself. of J213.000, and:there was on y iKOOO mortgage to Mrs., Patterson from F 0 "!. of m 3'ew,.l?ut:it was done to please the bank. The' provisions for interest were only _made as a matter of form. The r ?- m I,r s- Patterson was not the true, transaction at all* ahd was onlv arranged rn P lffh„ u I ? an - .H® was not Wylio and Co, nt the beginning, but, when Wylio went to heaven, ho (witness) was left, to "carry the Wvl,'5 r f / a / ( ? orson 'eot.cre.itit in the books of-,Wylio and Co.- as rent for Wylie's' nre•CS&J jkif- J as .-.^®-' a T* a ®j®®wV and ho believed that it was earned out. 7 ®?" k F u f )t {, l l . do not know.Sho is in New Zealand, I believe, but any summons you wish to servo upon her i I will see that she gete not accept any-' j ■ for ller .while I was in gaol, for a very good reason. \ y *

Continuing, witness said that 'if te . a wwt on. Mrs.- Patterson ho could ( lea\e it at Mr. Gurr's office in' Danne* yirke, and she would cnll and got it. Mrs. "Pattersoni complained bitterly of detectives and policemen crawling round tho s country . after „, c _ r " T° 7 a . s ?, .S 00 " 1 ' honest woman,- and it was not a fair thing. ' If any papers were left tLf n'S" rr S ,Ile iJwjkrupt) undertook ™fi J i s S" en dl / r 3 Mrs.vPatterson would wl vE* t> u' d not know exactly i{L f i?*?', P f tt?rs .2?/ was now - ' She • might he in Auckland or Whangarei. Tlie bankrupt was examined at length in regard_to his connection with tho.-Unfon'Bank the Ruahino and Kuru Sawmilling Company, and Cohq and Co. i~ • . v Bank premises,- he siid,' 'were' built by his wife,', and he collected the rents. Ills wite advanced him money in connection with carrying on the 'other companies, and ho had periodical settlements with her. ' 1 They verified at settlement from their bank books, and never had any, row about .it. Ho generally owed his wife- a little money, but- if it ■was only a .£lO note'.they would cry quits, His wife jWas an original ■shareholder in Anderson, Sons,) and-Co., and. had advanced-them money.' Anderson_ had bought some" plant from' tho liuahine Sawmilling Company for" .£1350,' 1 which ho owned, and ho had received the cash gradu?r y '' T ; A -!V dorson3 !'? d • bought. nothing from- ! :?•»>: Pattwson. ..If* the assignee would :hand .tack .£lO to Mr. .Mogridge- (Mrs.. Patterson's brother) that gentleman, would hand back-all the .properties - with which, ho was, connected. He ,was authorised by- Mr. Mogridge: to say this publicly. - 0 Tho bankrupt further stated that lie had paid, the bulk of the money from tho Weber run into, his banking account, and could produce; tho trust moneys in George, Pawson's , estate, at three hours' notice. They were nerfectly safe. - *•. • t • • The, bankrupt went-on- to say that he- first felt'himself insolvent in June,. 1908. Tho examination; was; adjourned until, tomorrow morning to allow the bankrupt to explain j some proofs of debt.