MEETING OF CREDITORS.

Dominion, Volume 3, Issue 726, 27 January 1910, Page 9

MEETING OF CREDITORS.

SYMPATHY/

, '.Yesterday : . : morning,V the , ;; Official w Aβsignee.(ilr.;:;A;.:i Simpson);,'conducted.-an inrestigationlViintp'i'tho.'lbankruptcyipf Mrs.'! .--. Charlotte .■[ Castendyk,:/- boarding-: house keeper; ■'■ before a ;■< largely-at.tended inoeting-of 'creditors. , ••••.■!'■"■.■.':'■'='. , .'■-.' V : ■Bankrupt,. who was represented by-Mr. A.' Gray,, stated' that .she ■commenced .business sonvlier; qvvn;.'account .in 11897; ; as, aijbodrding-lipuse keeper,- and ."'after.'.live years'.'.business'slietook'.over .the .management, ,of' "The. "Mansions;"-in , . Ghufcnee,- Street,; : under^MiyHermann Lewis, for. two year's, .at;,the end of which; period she : arranged: for 1 : , a lease of - the concern .at a rental' of. iEifiß per, annum; -'.: She purchased.fth'e-. furniture and chattels for JJl3oo,'giving, as.security for that amount a ■ mortgage' Of the lease and a> bill bl sale ''over ::.th'e:: furniture, transferred: to \ Mr. /Hermann' Lewis, and by;.him transferred to' Mr. J. 1< , .: Pease.' .■'i'lie;busiuossideveloped;;and subsequently, ananneie;was established,' and two'.Bmall 'cottages"-vrefe'rented. lor .'the staff, r.Since these responsibilities were, .undertaken, a pariod' -of; keon. competition"had'.set in; and'.tuis; ; ;c6npldd iwith' , ;"cutting!:torms" and 'loss of., boarders, ,had. serious foil ; in':the ■•• revenue. .'Pressure• of .creditors', left her with no alternative but t0'..~ seek''the' .-protection "of : . the Banki'mptoy: Court; She. had no money; and no -resources. ■'' Shortly,: lier.'difficulties had" been caused ' by, insufficient. , ' capital, keen"competition, insufficient:.patronage for many months,, charge's on and payment; of jo'ans.V.and-heavy:, expenses. ■; ' The Official Assignee was of the opinion ■' that :tho .Tjankrupt had; made' honest • and industrious .-.efforts to ..overcome, her. difficulties;and , square,her a;ccounts with her . creditors. - She had even, given up her- , personal'- belongings—presents, etc.— and Mvas'.'. absolutely. l without means. There' would -i be :no dividend for the creditors. <">'■ The' liabilities to .£2172 and the , assets-to J2C4,: leaving: a deficiency of : J2108...T0 the. secured '.'creditor's:there.was owing .£2189 Useless estimated' value of securities, J21440 Us.; this left a balance of .£749, which, with .£1423 15s. Cd., made a total 'of 'J&Yl2' ]ss.

Gd. : ■.:. ■,;■':■ :•: / '•■ ' C- : ' "'■■ .' v , •'-.■" : '■■ .. The:; principal-creditors, • secured : and unsecurediv.were : Hermann; Xejris, : per. JV F.Pease, J673G ls.j Hormann Leivis, •la.' Bd.; ;Chas. F.-.;Greenelado .(Dunedih), 10s. j TJuited Fanners' Co-operative Association,.£llo'.3s. Bd.; C. P. Skerrett, £183 ls,-.-Bd.j. : M: v Sch6tlandar,;£ll3' 7s. 2d. It. was resolved tliat a ,vote of sympathy be ,' tendered to Mrs. Castendylc, and' that no opposition bo offered to her discharge'■from,bankruptcy. •;,'•' . .'