CREDITORS' MEETING

Dominion, Volume 6, Issue 1611, 30 November 1912, Page 3

CREDITORS' MEETING

AFFAIRS OF. TWO BUILDERS. ' A meeting of the'; creditors in the bankrupt estate of.S. K; Biddler and H. Firth, builders, of Kilbirnie, was held' at the office of the Official Assignee yesterday. ' Mr. T/ M. ■ Wilford . appeared for bankrupt, Riddler; Mr.,'A. B. Meek and Mr. A.Newbold, for Messrs. Briscoe and Co.; and Mr. F. P.- Kelly for Messrs. P. J. Griiiimett and J. Allen. The bankrupt, Firth, was not present. The bankrupt, Riddler, stated that ho went into' partnership with Henry Firth in. Fobruary, 1909. The total capital of the firm was <£30. He attributed his present position 'to the fact that he took: contracts at prices which proved too low. In answer .to Mr., Newbold, bankrupt stated that he did not have his accounts made up after ho ha'd finished Mrs. Love's house at . Petone recently, and oaul(J:not tell what his position was. He understood, however, that proper accounts were being kept. • The Official Assignee (Mr. A. Simpson) remarked that /he thought that this bankruptcy should be sifted to the bottom. It was a case for a public examination. Mr. Newbold. said that it appeared to him to be a peculiar position.. The bank- 1 rupts had talceri contract after contract, but had not kept any accounts to show how they stood. The bankrupts' statement of finances showed that .they owed .£905 Bs. 7d. to unsecured creditors.-. They had book debts amounting to J2312, which were estimated to produce their full amount. The principal unsecured creditors were Hart, Udy and Co., timber merchants, Petone, .£389 lis. lid.; Briscoe and Co., iron merchants, Wellington, .£lB2 16s. ■ 3d.; J. Allen,, painter, Wellington, .£7O ■ 16s.'; R. J; Grimmett, bricklayer, Wellington, ,£SB : lis. 6d.; T. H. Jansen, plumber, Wellington, ,£57 18s. lOd.; Jackson and Co., painters, Wellington ,£66 17s. 5d.; F. Holmes, merchant, Wellington, ,£34 Us.; Briscoe and- Co., hardware merchants, Wellington, 10s. 3d. There were also a number of smaller amounts. The bankrupts' books showed that Mr. T. Riddler (bankrupt's father) had acted as banker for the firm *in connection with six jobs, between June, 190!), and March, 1911. Sir. Burridgo had. subsequently acted as banker. The meeting was adjourned sine die, and in tho meanwhile the Official Assignee is to get the bankrupt Firth to attend subsequent meetings.