CASE OF HARDSHIP.

Dominion, Volume 5, Issue 1395, 22 March 1912, Page 3

CASE OF HARDSHIP.

BOARDINGHOUSE-KEEPEFTS FMLUriE. A.N ILL-STAKRKI) VENTV'UK. "] am sorry to say, gentlemen, that Ihis is not a bankruptcy in which there is any prospect of a dividend being paid,' , was Urn rather sorry nnnnuiicemcntmiula by the (Uncial Assigns to a meeting of creditors y:\-k-rday. Th- bankrupt was .in phK-rly woman, Margaret I'eters, who had Inst her all in an unlucky hoardiughoiir-p venture, li was evidently recognised by Hip creditors as ii case of hardship, for counsel for the bankrupt, Mr. C. U. I>ix i-aid that several of them had sent him receipts for Hip amount of their claims against, the estate. The secured creditors were T. P. Lyons, private, hotel-keeper, mid Dwiin Urns., hotel brokers, who lipM a security n«.t-i----m.iied to bs worth /JI2OO for a. debt of •Slino. and A. L. Wilson, nurlmmer, who hold a security worlh 4111)0 for a. debt of .eld". S,i it wns estimated that there might Iμ a surplus of XBO. The unsecured debts amounted to .C 338 Is. 7d., of which thn largest amounts were as follow: Jnmcs Smith, draper, .£33; Scoullar and Co., furnisher?, .£9l; D. Anderson, groc«r, .£10; Winder and Co., ironmongers, 4110; Upton, laundry owner, ,£ls; Electric Light Department, 4MO; Warnork and Adkin, drapers, £10; J. Harrington, dairyman, 4i(SO; State Coal Department, 4:11 iis.; O'Rcgan nnd Dix, solicitors, £\2 12s.

In her statement to tho Assignee bankrupt said sbq had been a boardinghousekepper for nine vears. She had kept a superior boardinghouse. in Wellington Terrace for nearly eight years, nnd made money out of it. About 18 months ngo she had been induced lo take a leaso of tho Columbia Motel, and to do this sho had to sell her TerracA furniture and effects. When hho took the Columbia Hotel sho paiil 4!tDO in cash, and gave a bill of salo for Jill.iO, which was'nominally tho amount of the purchase-money, '.rho business of tho Columbia Hotel had improved very much since she took it over, and the present Irniiblo was due to thn pressure exercised by Messrs. Dwan Brothers, tho landlords. She had got into arrears with her rent nnd they refused to givo her further time in which to pay. Sho had covenanted to pay 4217 10s. per week rent, and also rates, taxes, insurance, elcclric light, and running of lift, nnd these charges ran the rent up to a far higher figure than could bo made out of such a business. Sho had got into debt trying to pay the rent, and had eventually* decided tn iilo her petition in bankruptcy rather than let the unsecured creditors puller any further. She had como out of the hotel not only penniless, but with absolutely no effects.

There was a suggestion Hint as Hip pur-chase-money agreed upon was 4:1150, and as 4M50 had been paid in cash, and other sums later to the amount of some 4:30f1, (ho bill of sale for 4;l!50 was nol given for viiliwh!" consideration. Thn Assignee suggested that on this' ground Iho re-entry of the bill of salo holder. T. l\ Lyons, might not bo regular, and (h. ? bill i.f sale might ly> successfully attacked. He could take counsel's opinion on the question if the creditors would guarantee the, expenses, which would amount to about five guineas.

iVi guaranteowas forthcoming, but Iho Assignee said that ho would inspect the mil of sale and get a copy of'it, and alter that he. could submit a more definite proposal. The creditors present passed a resolution authorising him lo do Ihis, and if lie. considered .it necessary, to call another mooting. A further resolution that the bankrupt bo recommended for immediate discharge was carried unanimously.