Thomas Sutton's Estate.

Manawatu Herald, Volume III, Issue III, 17 February 1891, Page 2

Thomas Sutton's Estate.

r ..♦ . ■. A further meeting of creditors in the estate of Thomas Sutton was held at the office of the D. 0. A. on Thursday afternoon. There were present-^-Messrs W. Ij. Luxford. H. S. Fitzherbert, B. S. Abraham, ,T. MoKelvie, J, Cuthbertson, and C, Honore. The D. 0..A,, Mr G- J. Scott, announced that Mr J. Beale had withdrawn his offer of £20 for the whole estate in consequence of his not being able to come to an ar. rangement with Mr McKelvie, the lessee of the property on which the flaxmill was situated, for the liquidation of the latter gentlemen's claim for rent, and he now asked creditors what course they intended to pursue in regard to the estate. It transpired during the conversational discussion which ensued, that Mr Beale had realised upon the property over which he held a bill oisale for £800 and the realisation. had resulted ix| a loss of over £100Jpiam Th&vtXm oi the remaining assets on the* estate was only about £20. whicfrft»ftaM^ give creditors a diMd#Jst.of sixpence^ in the pound. The returns from the sales of flax in London had been very bad, and had not reached within £ 100 of the advance^ made upon the consignments.. Tbje prices obtained had been £17.158, £18 ss, and £19 5s per ton respectively during the month oi Nove'mbef, 1890. It was unanimously decided to give

the assets in the estate to the debto provided he satisfied the lega preferential claims for wages. 1 resolution was about to be proposed recommending the debtor's discharge lmt for reasons stated by the debtor it was deemed unnecessary to caiTj such a motion — M. Times.