In Bankruptcy.

Feilding Star, Volume XV, Issue 208, 6 January 1894, Page 2

In Bankruptcy.

A meeting or creditors in the estate of Alexander Munro, settler, Binning- j him, was held on Thursday, D.0.A., } Mr G. J. Scott, in the chair. The ! following creditors were represented by Mr H. S. Munro :— G. P. Church, Dr Mussen, Jackson and Warner, W. J. Conder, G. Anyon, A. H. Tompkins arid T. Lowes. Debtor was repre sented by E. O. Hurley. In his written statement debtor attributed his bankruptcy to the fact that H. S. Munro had served him with a writ for the balance of purchase money due on his farm, and, as there was no agreement, judgment was entered against him for £150 and costs. In answer to questions, debtor said he purchased sections 49 nnd 50, Apiti, from Mr H. S. Munro. The area was 270 acres 2 roods, and the purchase money was 30s per acre. A verbal agreement was entered into, half cash to be paid on the completion of the transfer and the balance in three years. He paid £150 to the vendor on account. In October, 1891, he let a contract for felling 50 acres of bush, and the work was completed about Christmas of the same year. He paid 30s per acre for felling, and 10s per acre for grassing. The work was paid for out of a loan of £400 which he had raised. He built a four-roomed house at a cost of £150, and this also had been paid out of the loan. After spending the £400 loan on his farm he sold his interest to to Mr J. H. Hankins, acting for a client. He owed £37 to Mr D. McBetb. The amount was not entered in his statement, because the creditor had told him iiot to enter his name, as there was nothing in the estate. He owed Mr Win. Mcßeth £23, and this amount was not entered for the same reason. He borrowed the £23 from Mr Win. Mcßeth to pay a deb_t. For security he gave Mr Mcßeth a lien over 80 sheep. He borrowed the money in October or November, 1892, and sold 29 of the sheep in June, 1892. The remainder of the sheep died of old age. After selling the land to Mr Hankins he received 30s per week f o • looking after the placa until it was sold. Mr J. Mcßeth lent him a draught mare worth about £25, and it got caught between two logs and died. He kept no cash-book or daybook, but he usually entered his transactions in a rough diary. It was resolved, ou the motion of Mr H. S. Munro (on behalf of Mr Church), and seconded on behalf of Mr Anyon, that the debtor be publicly examined. The meeting then adjourned. — Standard.