MEETING OF CREDITORS

Dominion, Volume 2, Issue 611, 14 September 1909, Page 9

MEETING OF CREDITORS

ESTATE OF-JOHN.vWHITE) Xm'TRACXOK. :v ?At. tho - office"■■■oi 'the Olflcial /Assignee-jester-d|iy .morning, .there was .held' be/ofe-lMr. A. ;Simpson,,.. a meeting of .the creditors iin iho . bdnkrupt^estateyof John White, motfcr-wagon carrying'.; contractor; 6f teeaftouh..' V' y' j-- 1 - '•» x\, ! - -:/rha biinto.np.t;:;in.'his; forinal >statem«rit/ said -thatriprev'io'us to"-entering■•.irito-Sbusintes/ as a i ciirrying>. contractor '.[motor "wagons),' Ihe was engage^,unarming pursuits iii. 'X'aiailaki. 1 -" At thb timo. of ; entering .tipon' the carrying business ho t wos''.financially 'Sbund.' : slight i.loss ,■ on ; . d stone-crushing .add' gravel . carrying., ventureat . Waingongoro, near the HdwerajElectrio, Light. Company's .works, and,' 1 lateri-'iii'cpniiection ...Tnth ,'a-c(iiTyi»g!'ct)iitract ; he : experienced a losd of ovbt .^oo^;jli)ie,-i.he.,asserted; tortfoplqiallcouncil'?' .delay - in- 'pitting /tho." ivorlts"in:'Kaiidi ; Theso' should - been . commenced ,)iu;. Jloyembcr, b^t.''owihg;;fo','the regard; to'-the- - lbanVhegbtisttions. fori thovcosti of'tiibHracnway' , worksiv hie" (bankrupt) was uhablo.- a, Jstart ' ; uutil six : months later, when; the roads - .were so bad that ,brcakdb)Vn3,t6 .tho>plaut were -frequent.'. ..In January last,, tho; bankrupt ob-1 " fainod wqrk;wth:thC'. : Brauda ; 'tJuarrjfCo'mpany. at Miramai','hril bad weather reduced any prospects of making profits out ,of the'contracts. Croditors began to press three months ago, and he offered of <£30 ' per month. , Ho was to'do.'this, how- .- ever, and so was compelled to hie. ' ! .{Tho statement of dsscts./and liabilities showed' ! thdt' there.was. owiiig: .to 'tinsecured-'creditors., . 'ftisum of £732'185.' 10d.,;-.\t6.-secured creditors '/Xhe, assets• ! totalled .'i£3Bp; li 3d;, ..and these, added .to; the estiniatedisurpliE'from the securities,, reduced, the 'liabilities. tj' XStS, 17s. ; 7d.—the estimated deficie'ncy:iti'-thb estate. The largest' creditors were: Wanganii Borough yCounCil,- £02 4s. 2d.; Booth; M'Donald and Co., Christ6htlrch/.iEB9. llsi Od.'Mpangitikoi, County. . Council,' ,£73 fls.; Cd.'; ' Murray, and, Co.'/.Wa(Jhganui, £51 (ijogos);; -^57; .Hutchinson, and Campbell, Wclliigton, £80 J S Pjtcaithly' Col, ' Wollington, >£25; I'iold, ' J J uckie,and.T<>os ( '.Wiingdnui,' £23. Is. 3d.;.. X'addy. and Co.; ,Wa-' '■ riganui, -Cl 5 6s. i Smith, heatcran (wages), .£2B 10s. ;,Eoid find Jlcid, WcUfagtbS,"'£l6.l7s.'' .< lAltogother.f..fifty-three creditors proved;' The secured ite're: J. W. Hirst, "VVanganui, £335 (security,'£67o); Bank of-New-.tioUth iWaleS, £107 : (security,; £110).-'/. i r .The' bankrupt' was; questioned, bp tho'.Assign . nco on certain- matters", relating; to 'his assets; It : -lvds' -.flnn lly : decided thot.. the p'rin'cipal, 'se-! Cured'creditor (Mr.; J; W.; Hirst) lie negotiated l; with' -.'concerning; tho realisation of-the seeuri--1 ties held'by-him, and furtherfaction left in- ' the bands of the Official Assignee. ," ,