Colonial Bank Liquidation.

Feilding Star, Volume XVIII, Issue 22, 25 July 1896, Page 2

Colonial Bank Liquidation.

(Per Press Association.) Dunedin, July 24. In Chambers application was made on behalf of the liquidators to sanction the acceptance of compromises offered by certain debtors. Robert Wilson, Dunedin, lately merchant, now out of business, amount owing 11641 15s 7d. balance of current account in the D list ; security, lien over certain shares expected to realise £300 or £325. Wilson offered £450 in full discharge. Hugh Carswell, Invercargill, lately stock and station agent, amount owing in D list £1731 12s 2a. He had paid £250, and would pay another £250 in August. It was proposed to settle on paying £850 extra. Williams Todd, Invercargill, late auctioneer, indebtedness when the Bank went into liquidation L 13.997 in B list ; all the properties held as securities had been sold and the amount (not stated) paid into the Bank in reduction of the debt. His friends had bought for LIOOO some properties. He had gone to Western Australia. The liquidators said he acted honestly. Archibald Morton Holden, stationholder, Mackenzie country, debt L 348 18s 9d, shortage on an advance on a shipment of wool. This was the cane of a man who lost everything by last year's snowstorm and from being a runholder he had been reduced to the position of shepherd. He was in the A list. A friend had offered to pay Ll5O in settlement. The Inangahua Finance Company, of Reefton, debt L 283, and 10s in the L was offered by one of members. His Honor ; This seems to be a hard case. One man has had to pay the whole thing. It appeared that Joseph Taylor was practically the only solvent member of the Company and had made this offer. Wm. Acton Adams. Christchurch, solicitor ; debt £9377, in the D list. The security was a mortgage over land on certain is lands in the Waimakariri river and lien of shares. He offered £8000 in cash and the liquidators thought they had better take this. The recommendation was made after full enquiry, during the course of which Mr Adams said he had been living on £250 a year. John Boyd Gilfillan, Auckland, Commission Agent. This person owed £4375 deficiency in drafts in kauri gum. He said the Bank's agents at Home sacrificed the gum and ruined him. After his capital was lost he received a legacy from his mother, which he paid to the Bank. The Bank got about £500. All be now had was a couple of insurance policies, one of them had no surrender value. From the other he could get a surrender value of £300, which he offered. His Honor sanctioned the above cases^