In Bankruptcy.

Feilding Star, Volume XVI, Issue 192, 13 February 1895, Page 2

In Bankruptcy.

ESTATE OF ADOLPH GOLDFINCH. A meeting oE creditors in the bankrupt estate of Adolph Goldfinch was held in the Manchester Hotel (the Court room in which these meetings are usually held being occupied by a sitting of the Court), Feilding, yesterday afternoon. Mr G. J. Scott, the Deputy Official Assignee presided. The creditors present and represented were Messrs Barraud and Abraham, £2 14s ; S. Palmer, £34 Is 3d ; Arthur Goldfinch, £233 ss ; and Perkins, £6 10s, represented by Mr Prior; Harrison, £3 12s; F. li. Jackson and Co., (represented by Mr M. Cohen , £249 12s 9d. 'I he following is a statement of the assets and liabilities as sworn : - Liabilities - Farmers Alliance, £5 ; F. K. Jackson, £100; Arthur Goldfinch, £200 ; S. Palmer, £50 ; Culling, £25 ; C Smith, £13 ; T. Smith, £40; J. MeKenzie, £4 ; J. Harrison, £3 ; Perkins, £6 10s; Andrew and Kellow, £3 ; Kirton and Curtis, £3 ; Nathan and Co , £IG2 ; Total, £614 10s. In addition to the above amounts claims were put in amounting to £196 3s; the principal ones being F. R. Jackeon £149 12s 9d and Arthur Goldfinch £33 ss, bringing the total up to £810 13s. The secured creditors are—Nathan and Co. £38 and Hopkins £300, the estimated value of the security being £450, leaving a surplus of £112. Assets as sworn. — Section 18, Block X, Pohangina, containing 48 acres 2 roods, under deferred payment, valued af £12 an acre, less £53 due to Government, £529 ; Section 28 suburban, township Pobangina, 5 acres, £50 ; Section 26, Pohangiua, containing 195 acres, deferred payment, £979 ; furniture, £30 ; estimated surplus from securities in bands of creditors, £112 ; Total, £1121 ; total debts, £852 10s; Leaving a surplus of £168 10s, but against this must be placed liabilities amounting to £196 3s not in the statement. The following is a digest of the written statement of debtor, covering his business transactions during the past five years, when he took up 315 acres of land from the Colonists' Land and Loan Corporation, under the three years free occupation system. During the first three years he felled and grassed the land and built a house, being backed by his brother and Mr Barton as he had no money, Twelve months last June he sold out to Mr Colley for £8 10s per acre. Twelve months previous to selling out he bought from F. R. Jackson and Co. 1350 sheep at 15s per head, the sheep market being at its highest. Paid £170 down and gave a three months bill for the remainder of purchase money. He had a falling market to contend with, and the bill was renewed for another three months, during which time 500 died or were missing. The remainder were sold at 8s per head, his loss being about £450. At this time the place was sold. He then arranged with Mr Hopkins for the place he is now living in ; he agreed to give Mr Hopkins £123 for his interest with the privilege of working it out, which he did by bushfelling. With assistance from his brother he built a house. He then, took a bush contract from Mr Selby and purchased stores and clothing to the extent of £100 from Mr Cohen. They were placed in his house on a Thursday, and on the following Tuesday his house was burnt down, stores and all. There was no insurance and his loss amounted to £330. The £100 worth of goods destroyed are still unpaid for. At this time he held section 14, which he drew in the Harbor Board Association. Sold it for £180 and rebuilt his house. In March last purchased section 26 from Mr Hopkins for £300 on terms. On this section 81 acres were felled and he sowed it with crested dogstail. He was depending on the crested dogstail to pay aIJ, or nearly all, his debts, but the caterpillars destroyed it shortly before harvesting, and in place of getting seven or eight tons there was not half a ton. Went to Mr Cohen a month previous to harvesting for a further advance on the crop, receiving £40. He then mortgaged his interest in section 18 to Mr Cohen for all that was owing to him, the claim being payable on demand. When he saw the crop had failed he knew what the demanding clause meant, and this, with other demands, was the reason he filed. He never kept books and thi3 statement was made from memory. Proposed by Mr Cohen, seconded by Mr S. Palmer, That in the opinion of this meeting a public examination is necessary. — Carried. The D.O.A. said bankrupt would have to make up a statement commencing from March, 1894, showing what amount he had received and what he had done with it; and produce any booksjor accounts that he may havp