Bankruptcy of J. D. Valentine.

Feilding Star, Volume XVI, Issue 47, 21 August 1894, Page 2

Bankruptcy of J. D. Valentine.

A meeting of ortditon in the bankrupt estate of J. D. Valentin'*, carpenter, wu held in the Feilding Court House yesterday afternoon, the D.O.A, Mr G. J. Scott, presiding. There were present—The debtor and his solioitor (Mr L. £. Beade), MessrsH. Bastings, W. Light, H. W. Davy (of Davy and Mills), F. J. Petherick, B F. Haybittle, J. Fraser, J. 8. Mileon, — Bramwell (of Bramwell Bros.), W. Oarthew, G. Bartholomew, J; Derragb, and Kirton and Curtis (represented r by proxy). The debtor's sworn statement was to the effect that he had .not ■ been a euceessful tenderer for any work since January of this year* Between July 1893 and January 1894 he had taken several contracts' and lost roughly about £80. Durin«; the past six months he had ,onlyVari>ed £6 15. He had also been unable to work from time to time' as he suffered, from sciatica. He had been instructed to file oa account of a resolution passed at a meeting of creditors held in Mr Reade's office on the 11th instant directing him to do so. The list of assets and liabilities was sworn as follows:— Liabilities: Feilding — Bartholomew Bros., JB6I 7s Id; J. Darragh, £20 Is TOd; Davy and Milk, £15; Jas. Fraser, 0,12 3s; Manawatn Timber Company. £8 4s 4d; Estate of fl. F. Janningiy £7 5s 3d ; Kirton and Curtis, £3 12s; B. Martin,. £4 Ids 6d j J. Cobbe, £2 16s 9d; Chamberlain Bros., £4 6s; Bramwell Bros., £3 13a 6d j EsUie o£ J. C. Morey, £1 12s 8d; A. Eade, £4 15s 3d; P. Thomson, £5 7s 3d; W. Certbew, £1 16s lOd j W. Pearson, £1 19s •;s•>--well Bros., £3 8s; J. M. fliggi&'a Trustees, £2 8s ,6d; W. A, Bandilands, £1 10s; H. .Bastings, £27 16s 6d; F. J. Petherick, fl l'2s 6d-j J. Milson, 14s 4d.; R. F. Haybittle, £1 6d. Wellington—Tingey Bros., t £13 16s 4d; Wanganui—Thain and Co., £3 7s 3d; Total, £215 7s 2d.; In addition to these amounts Kirton And Curtis proved for £6 7s lOd, W. Carthew £1 17s 4d, H. Bastings £32 7s 6d, F. J. Petherick £2 5s 6d, Davy and Mills £17 6»> B. Garlick £1 3s 6d, making the toUl liabilities £226 17s. Secured creditor—W. Light, £2QQ,the security being section 85, containing one acre, on which is erected an' Broomed house and 4-roomed cottage, valued by debtor- at £450. - "; Assets—lnterest in allotments 8 and 15, part of sections 223 and .224, valued at £15; stock in trade, £22 . 9s; sulky, and harness, - £19 5s nbook debts £5 Bs, estimated to produce £2 10s; Total, £60 4s. Debtor estimated that there would be a surplus of of £93 16s lOd. . The D.O.A. said that, according to instructions from him, a competent valuer had given the value of section 85 as £385, and sections 8 and 15 at £8 (The sections were bought for £4Q V but £32 of this amount remained' on mortgage). ( .* In reply to the D.O.A. debtor said: Kept no day-book; kept a sort of ledger (produced), commencing in 1893; made entries in a pocket-book; was getting 88 a week for the cottage; the furniture belonged to his wife; gave the horse to his w|fe about fiWyean ago; bought it for £5; the furniture and piano were given to his wife by her father fifteen or sUteen^jears ago; there was half a case of glass, valued at £2, which he had omitted to put In the list of assets; had been sending his two children to a privateVscbool; had not paid more than £7 or £8 for this purpose. . The bank-book showed that in .December last, after paying L2B,£ojß)os< coe, McNeil, and. Co., there was s. balance of L4O. < '-/- i' •■ Mr Haybittle asked if the; cfebtor was not compelled to ove. a proper statement, in place of his creditors having to go ao minutely into his transactions. • <<-:!. The D.O. A. was; of opinion a bank* rapt should be compelled to produce a statement of receipts and expenditure for at least' twelve months previous to bankruptcy, but then was no provision in the Act to this effect. . He instructed the debtor in this case to prepare a list of receipts and expenditure for the past year, which debtor promised to do. Mr. Bastings proposed, and Mr Davy seconded, That the Deputy Official Assignee realise the sssettin the estate as soon as possible.—Garnet- ■ ' '.' •- :" l V^iHi " Mr Bartholomew moved an amendment to the above thati this meeting stand adjourned till Tuesday, August 28tb, to allow debtor to produee a statement in detail of reoeipts andr expenditure for the two .;years. There was no seconder to this and the amendment was not put to tha meeting. - ■ ; Mr Bastings proposed, and Mr Haybittle seconded, That Messrs Bartholomew, Darragh, and the mover, be a committee to confer with the D.O.A. as to placing reserves on the assets^— Carried. a It was understood that Mr Can was to sell the assets by auotioa. V The meeting then adjourned. j> ="■'