IN BANKRUPTCY.

Inangahua Times, Volume IV, Issue 56, 17 August 1877, Page 2

IN BANKRUPTCY.

Ec John M.'Lean. Mr Staite, ou behalf of the bankrupt^ applied for an order of discharge. The" case, he said, was similar tolhose dis* posed of at the former sitting o? t th^ Court. All the prescribed meetings, had^ been called, and forms complied;" witli, but no creditors had attended. There^ was no estate, „',,, His Honor asked how the Bankrupt, couM claim !>w lUsnharsie, iHiehaii no^ estate. The law wa.l framed forth^prO' tection of creditors and debtors alike; but the case before the Courj^appiaredj tol)e all on" one side. . Mr Stail'e submitted that the creditors had the opportunity of enquiring info the' matter, and their indifference on the sub- • was to be taken aa'prinsa facie evidence; {that they did not oppose. •! His' Hpnor: Out of" nothing, nojthing can come, t^hat does'the bankrupt give in exchange for his certificate?. The, Court has. to do fqnal justice between the^ parties. ' The bankrupt, comes to the Court for w equal distribution of hip property, and.in return obtains^ equitable relief, mere 'seemed to be a^complete rush* to the Court by' persons of no estate. Order granted, Th© Court then adjourned. Tsubsday, August 16. In the Matterof theEAimrCBBEK.CoMPANT (in liquidation) and BfiNJAMtN^ GotTGH.' •''•••. Mr Keid. for the liquidator shortly stated the grounds upon which the application was based, and called, William M'Lean : I find by the register that on the 29th May, 18?6V Benjamin Gough Was the owner of spO shares irf the Company. On the same "day I , find au entry sold to" Patrick is*GQvern. Tho last call of £6 5s seems to have been paid on the 18th May. M/Gorern owes a considerable sum for calls, and ( I, have been ( unable to ' ascertain his whereabouts. Heard that there was suph a man at Ahaura, but could not recover from him because he has left the Ahaura. Cross-examined— The transfer was accepted by £he Cpmpany m May. ThD s notice to wind upVss first served on the manager of the ' Company on the 16th August. I thought Gough's' sale was not bona fide, and therefore placed his name J upon the register. My reason for thinking.that the tale to M'Gorera k wa« not^

Tbona fide "was lhat''the'name y in tho body ' "of the* transfer is spelled differently, and farther, that tho man had disappeared. This was all the evidence tendered, and ? Mr Staite having addressed tho Court 1 In c the saaie Matter Re Thomas Hunger* fohd. This was an application by the liquidator to place Mr Hungerford's name on the list of contributories. Mr Reid appeared to support the 'application and Mr' Pitt appeared to oppose. The case ife will be recollected was ' partly gone into at. tho last sitting of the Court, and was adjourned for the porsonal attendance of Mr Hungerford. Thomas Hungerford, crossed«examined by Mr Roid— -I think tlie transfer was • .dated 29tb May, 1876. I was dissatisfied with tho management of the claim. I ftoard that they were putting all kinds of onullock through the machine. 1 I saw Mr Lapham and we decided to sell, and Goss »called on mo and asked me if I would «ell. He had heard tliat I wanted to sell -the shares. Ho offered 3d per share, but twanted 6d per share, and Brially sold for 3d; I have not the slighest idea how ho .got the purchase money. It was not my iimoney. He paid me £11 ss. He was m my employ receiveing 11s per day. There -may have been some wages duo to the .man at the time. I had about 150 men in my employ at fcbat time. My clerk generally paid the men their wages. Wages were paid monthly, but not always on the same date. Never heard Cross say (where he got the money from. Never heard anybody say where he got the • money, jNot,^ -sure, of., the date be left /i€r.rey.mouth. The Company was crushing at the'tinie. ;f I was told it was being •badly managed) and Mr Lapham advised ane to sell out. . I told Goss at the time jtbat Mr Lapham had some shares for sale. It was upon the representations of a man in my employ that I first bought into the Company. I also understood that Goss was to take Mr &aplianas' shares. I believe that Mr Lapham held 3.000 shares. The money paid to me by Xxofla was bis own so far as I know. I liave not the slightest idea where -Goss is. ' He left my employ a few days after the . transaction. It was about the latter end of June that I first heard of the financial r position of the Company. Ec-examined — Have been an employer lof labor for years. It is not'anunsual v thing for laboring men to have a few pounds for investment. At the time I -sold, the Company was in operation. ; By the Coart — Goss had been in my .employ some months. I don't usually ( lrnow eaoh of the men in my employ individually. I knew Goss more intimately than the others, but he was not in my ; confidence in any way. The men became aware that I wanted to sell from my having told one or two of them, I told several of, the ; men that I wanted to sell. I did not mention Goss' name. I did not expect any of the men to purchase from me, nor did I .tell any of them to get a 'purchaser foj? me. I did not give a sixpence to any person either before or after t tho sale as a present on account of that ( transfer. When Goss came to me I told iiim Lapham had some shares lie wished ( to sell also, and it was agreed that he should take both lots. It was not arranged between me and any body else 'that GoBB wai to receive anything ou aoaount of the transfer. When Goss loft I <iut not pay him a farthing over nnd ' above his wages, or to anybody for or belonging to Him. His Honor ordered Mr Hungerferd's aame to be remoyed from the list of con 'tributorieo.