CREDITORS' MEETING.

Dunstan Times, Issue 1127, 7 December 1883, Page 3

CREDITORS' MEETING.

A meeting of creditors n the estate of WeathcraU an I Rowe, carrying on buaiuesat Lawrence as newspaper proprietors, was held in the Court. House, Lawrence, last,, t week; there being'' a fair attendance-* <• Among the creditors who bad duly proved-,, j their claims were D. Reid (Bruce Herald,v Milton), =L73 ; Matth 'fys. Baxter, tend CoV Ll»l Us 6’• •'{'•'’proprietor* 'Evening Star,. 1,47 15s; J. Hurs'iurgh, 1,10 17s; The assets {chiefly- book debts) were set down at L 450,. and the liaMUti s at L4OO. Mr Jago (representing-the Evening Star) Wits' voted to tho (chain'j at A TSS HHT rT ; Mr J .hn Weatherall 'the principal in the firm of Weatherall and|Rowe), was subjected I In a lengthy tend searching .exaimnati u at the hands of"Mr HoraHurgh. in the course of his examination, Wea herall said the firm started with no ■capital except LSO advanced by Mr John Thompson. That amount did not appear on the statement which had been tiled, because Mr Thompson had taken the amount in advertising ; the statement was made up from memory. The firm expected to bo wed, supported at first, and the quarterly accounts, they thought, would carry them along. They hwl about 250 subscrib/HC Wttn'eSs whh' '*• boss”?of s the concern. ;'He drew about:••L4- .rtr°:Es "-from the businesses Perhaps he and , hi?, partner (Rowe) drewabout L2O in all., Rowq paid nothing to enter th.e’bpiihess;' They met thrve or four' smi li bills (chiefly from Mills, Diek and Co.) Mr Horsburgh was the cause of the' firm , going through the Court. Mr Horsburgh (to Weatherall) : You called at my establishment’ and purchased some paper, ? , Witness : Yen. You were accompanied by Rowe? Yea. I asked you if Von were of the firm of Weatherall and Rowc-'and ytou denied it, did, you not ? .Ldon't‘remember y the oircu'm stance ~,, -. ,■ •.... -J' *’.* ' Mr Horsbni'gh V Brtt Ivld. ’ Yon seemed to he ashamed to aoknowledge the firm. Aftey fqrthep ([Upstioning, witness said 1 the whole of the plant had heCii mortgaged, and that a man named-Marie held a bill of sale over it. This drew forth a rcm.irk from Mr HoraTuirgdi that it showed how foolish business people,were in encouraging such individuals;' -He hsf'issued a writ, against Weatherall am! Rowe, and was 'ple.aseVl to hear witness confess that ho (Mr Horsburgh)

was the means of bringing the firm’s career hi bn*wSe it the partners were ashamed of the firm it should nnt.be allowed ■.to exist. MrM, Fraer was elected creditors’ trustee, his remuneration being fixed at 5 per cent. on.the amount realised bv the estate.