Meeting of Creditors.

Feilding Star, 15 June 1893, Page 3

Meeting of Creditors.

Mr O. J. Scott, Deputy Official Assignee, presided at ihe Court Honse on Tuesday last, at a meeting of creditors in the estate of Thomas Morell Mitchell, road overseer ot Cainpbelhown. Messrs Goodbehere and Richmond appeared for ihe bankrupt. There were ten creditors present at the meeting. The liability to unsecured creditors amounted to JEIS2/10/9. The property showed a surplus from securities of The principal items on the credit side were : book debts, £5/14 ; furniture, .£2O ; horse, ■addle and live stock, JE2I/15 ; surplus from securities £195. Unsecured creditors— Rowe and Sons, Carnarvon, £'18 ; J. Millan & Co., Fortoo, i'l6/7 ; Jas. Pearson, Cnuipbelltown, £12; S. J. Thompson, Peraberton, £22/19/1 ; James Canning, Catupbelltown, £14 ; A. Arnold, £8 ; J. Broadbent, £5 ; G. Mndford. £S ; J. Glover, £8/10 ; H Sanson Jr., £1/7; J. Jarvis, £1/15; N. Turner, £1/10; J. Richovonlt, £1/10 ; Cook and Gray, WeiJington, £6/0/7 ; A. Cockburn, Sanson, £5; J. H Hankin, Talmerston, £8/5; Dr. Bennalt, Bulls, JB{9 ; Chamberlain Bros., Feildins, £4/4 ; W. A. Sandilands, JEI/I ; O'Neal, Sanson, £4/10 ; Westwood & Co., Foxton, £1/2/6 ; E. G. Cnthbertson, Sanson, £1/10 ; Hickford, Carnavon, £10; j Harrison, Feildinff, £1/0/7 ; J. C. Thompton, £8/10: total £181/10/9. -Secured Creditors— J. H. Hankins of Pahuerston North, Solicitor, (as a«ent for the mortgagees) in respect of land at Camp belltown lyith live roomed house thereon, valued »t £275 with a mortgage of £80 upon it, leaving a balance of £195 available for the unsecured creditors. The bankrupt's sworn statement read as followers :—About five years ago he took up 105 acres in the Manchrster Block, and spent £105 in improvements on the property, but got into debt very heavily, and was pressed by two parties, neces•iUting the selling of stock at a great loss. This property was sold to Mr Cooke for £50. Bankrupt at this time was renting SO acres of land at Campbetttown for £37 a year. After considerably improving this holding, bankrupt owing to pressure from creditors had to sacrifice the property for £56 to Mr Davw. Doring this time be borrowed £80 on his horse, traps, and harness, at 20%, and these goods also had to go. Baukrupt has had to pay as much as 60% to stay bis creditors from pressing him. After trying without success to raise more money on bis place ■ at Campbelltown, he has found it advisable to seek the protection of the court but it was his intention to offer his creditors 20/ in the £. Mr Arnold pro posed, and Mr Canning seconded, that ihe bankrupt's offer to pay his creditors £4 per month with interest thereon at 7% per annum until such time bb they shall have been paid 20/ in the £, said sum to be payable through the Official Assignee, ! be accepted. Mr Scott said that he had a long interview at Palmerston with the bankrupt who he believed would keep his I word, and he considered that the debtor bad behaved very well to his creditors. The proceedings then terminated.