BANKRUPTCY' REPORT.

Evening Star, Volume IX, Issue 2683, 22 September 1871, Page 2

BANKRUPTCY' REPORT.

The third annual report of tho accountant in Bankruptcy has just been published, and it states that the returns furnished to him for the year ending November 30, 1870, although exhibiting greater accuracy and comp'eteuess than those of former years, are still o ipable of improv m ;nt; < specially that portion of them which embraces estates nc| wound up at the date of the last annual it? port. In some oases the trustees have let th Colony without furnishing returns ; and there is still considerable difficulty in getting some of the trustees appoint'd by the creditors to understand or properly perform their duties as prescribed by sections 225 and 220 of the Bankruptcy Act ISG7. There was a large increase in tho number of bankrupts during the year. In Auckland was an increase of 116 ; in Otago, 28 ; in Wellington and Wanganui rf 33 ; in Greymounth of 26 ; and in Westlar.d South of 8 ; while Canterbury showed a decrease of 11 ; Tarauaki of 2 ; and Westport of 4. The increase in the number of Bankruptcies, among tho four classes enu. merated in last year’s report—viz, keepers and publicans, storekeepers,'fame? § and settlers, ami' miners—is nearly 51 per cent. Thus, the aggregate number of the four classes for the year was 294, as against 194 for 1869. The Accountant statis with regret that the increase is mainly coni lined to two of the producing classes—viz ; farmers and settlers and miners. The num. er of hotelkeepers made bankrupt in iB6O was 64, as against 80 in 1870, or an increase of 25 per cent. ; of storekeepers and grocers, 46 in 1809, as against 61 in 1870, or an increase of 32.6 per cent. ; of farmer! ard settlers, 49 in 1869, as against 87 in 1870, or an increase of 77.7 per cent. ; and of miners, 35 in 1809, against 66 in 1870, or an inciva e of SS 6 per cent.; die remaining bankrupts do not present a marked increase in any particular class There were 699 orders of adjudieft, don made during the year : 534 by the Suiremc Courts, 165 by I).strict t 'ourts. The icC‘ mutant reports that a very large number of the estates previously reported as “depending” have now been returned

‘'closed—no assets.” In consequence of the absence of reports from the tru-tees in a large proportion of estates reported in picvi* ous years, the accountant has not though., it desirable to make any numerical statement under that head. During the year there were settlements by composition or arrangement in respect of 10 adjudications. The rates of composition are not generally reported, but the highest which is reported was lOsin the pound. Thenumbcrof discharges granted during the year was 530 ; of winch number nine followed on composition settlements, and the remainder were granted without composition. In 78 eases the final discharge was suspended for periods varying from one month to three years. In Otago there were 27 cases of suspension ; and m Canterbury and Westland the number was reduced by one in the one case, and two in the other. Most of the cases against trustees and supervisors which cropped up during the year were settled satisfactorily ; and in only two instance was it found necessary to have recourse to the .Supreme Court, The report which occupies fifty pages of the Gazette, contains tabulated statements, showing the condition of every estate brought under the operation of the Act during the year ; and a report on all estates not reported on in previous years as finally closed, showing the amount offered and realised. the manner in which those funds have been disposed of, and by whom the balance (if an.') is held.