In Bankruptcy

Feilding Star, Volume XIII, Issue 12, 28 July 1891, Page 3

In Bankruptcy

- . -•• — A meeting of creditors of Robert Stewart was held in tbe Conrt House yesterday. The.D.O.A., Mr Scott, presided. Tue following is a list of the unsecured creditors :— Proprietor Weekly News, Auckland, M 4s ; Kirkbride, Wellington, £Q; W. Summers) Feilding, £19 7s; James Smith, £2 os 6d; John Bishop, 7s; W. Bellve, £2; estate of E. Bull (deceased), £9 ; W. W. Corpe, Makino, £2 2s lOd ; Cobbe and DarragU, Feilding, £1 lis 6d; S. J. Thompson, £3 19s; M. 'Keen, £3 Us ; B. Wrightson, £21 16s ; total, £7.6 is 6d. The assets are : book ■debts, £64 7s, estimated to produce £29 15s 6d ; furniture, L10 ; saddle and bridle, L2-; total, L4l 15s 6d. Deficiency, ' L34. Mr Sandilands appeared for the -debtor. . Messrs Wrightson, Summers, and S. J. Thompson were present. Tbe debtor was sworn and stated be tad been manager -of a -hotel at Cheltenham for Mr Dalziel affa salary of L7O annum, for -1 year, then be leased the house at 30s per week-first year, and 35s fc^.- for second year'; borrowed L6O from his Tbrother-in-law, which he paid back out of 3iis takings; bought the hotel about the end •of 1883 for L750 by borrowing L2OO, and 1550 remained, in .mortgage with Dalziel «t 10 per cent ; paid 8 per cent for the X200; tne furniture was bis own, and was worth L2OO to L250; what books he iad were badly kept; were at home; eomeofthe leaves were $prn out; had kept no proper books; in the fiye years just managed to pay his ; kept no books ; or rather he had only a day-book. <The Official Assignee said heie : "I want that book.") Would s. nd it down next, week; lived 40. miles away; the mortgage tell due in 1888, and had to give a, bill of sale over his fur. iture to payoffDalze.i; the interest con I < no piy off any.of the principal ; raised Ll iO I7s 3d on 'the furniture, and b\ a .second mortgage over the freehold ; Da-zeil renewed his mortgage of 1400 For 2 .years ; sold the place in Marci , ... 90, for XB2O, less the L4OO mortgage, also Zohrab's biU of sale of L270 lis 7d ; Maxwell was also paid L2OO, whose j: te est was paid as it fell due ; paid Wrightson L2O, Pascoe L39, Thompson Ll6, in all L75 ; Meehan paid L3OO by three bills in six, twelve, and eighteen mouths, £34, £73 19s 7d, £79 10s, including interest; got about £103 in cash ; gave Maxwell two bills for £73 19s 7d and £79 10s and cash payment of his money ; got the £30 bill cashed himseli to pay some of the accounts ; after he went out of the hotel went on an acre *ection belonging to Mrs Stewart ; there is a four- roomed house on . it ; she got it "by her own money — got before he mar» aied her ; none of this money was in the lotel ; 'had been married 14 years ;, Mrs Stewart bought the section about 12 years ago, when the towaship was sold ; the ( house was put up by the man to whom ahe leased the section ; he was going to Tbuy the section, but left ; the man's % name was Edward Stubbs; had been working for his brother-m iaw, fencing and sowing grass seed ; his wife held a deferred payment section of 100 acres in the Feilding Small Farm Block : had it about three years ; 30 or 40 acres ol bush have been felled, but not burned ; no fencing was dona ; there is a whire on one end of it ; she is living < n another section next to it, which she has bought irom Shannon ; tbe Corporation had lent £200 on it ; the furniture of the hotel (£160,78 9d) was taken over at p valua- I tion; had since bought £108 worth of sheep from F; R. Jackson &Co. (220) at auction on a bill at 3 months, aboat 4 months ago ; sold the sheep, about three weeks ago, to George Kidd, and paid the P.N. ; in the iu Larval tne. sheep ran' on Mrs Stewart's place ; got a profit, did not jay for the grazing ; if it had not been :for Thompson and Wrightson the sheep ■would uot have been sold ; had they not pressed him he would have paid b s way, but be was forced into thw < Mr Van iilands un : rtook to do what ] lie could by collecting the uebts due to the estate. The "bankrupt said he had no offer to made, Mr Scott, the D 0.A., said he did not like to 6ee a man like Stewart taking advantage of the Bankruptcy Act for so "* -small a sum, and if he went b fore the ( •Judge for publio examination, aud had , .kept no^ books, he would certainly be punished. He considered Stewart ought to be ashamed of himself. The meeting separated without passing a resolution.