First Meeting of Robert Elliott's Creditors.

Manawatu Herald, Volume III, Issue III, 5 December 1891, Page 2

First Meeting of Robert Elliott's Creditors.

Mr J. G. Scott the Deputy Official Assignee in Bankruptcy, held the first meeting of creditors in the bankrupt estate of Robert Elliott, at the Court house Foxton on Thursday afternoon. The creditors present were, A. Speirs, S. Howan representing Howan & Sawyers, J. P. Murray, B. Spelman, E. Austin, J« Spelman, B. Murray, W. Kirk and W. Luxford. Mr Scott stated that probably the meeting knew that these proceedings were only to deal with the assets and liabilities belonging to the Foxton mill. They were aware that it was on the application of three creditors that the debtor had been adjudged a bankrupt. It was the most extraordinary estate he had anything to do with, as the assets would all be swallowed by preferential claims, and he feared that there would be nothing for the wages men. All he knew about the estate was gleaned from Mr W. Kirk's statements, who was formerly the manager of the mill, and he could learn nothing about the Otaki mill, except that it was understood to belong to Mrs Elliott, and that her husband had been working it on her account. The outlook there was not bright as one carter had a claim for £200. Referring to the statement prepared from Mr Kirk's information it appeared ihat the total liabilities were £500, being as follows : — Otaki : Charles Hell, £48 14s lOd ; Thomas Ayre, £9 13s 3d ; J. Bills, £2 lGs 4d. Palmerston: W. L. Luxford and Co., £46 3s 9d. Foxton : Howan and Sawyers, £29 15s 6d ; iB. Spelman, £27 16s ; John Spelman, £8 ; J. P. Murray, £44 Is 6d ; Peter Brebner, £8 8s ; Honore, 8s ; A. E. Easton, 7s 3d ; R. H. Barber, 4s ; W. W, Kirk, £31 16s 8d ; F. Fowler, £17 14s ; W. Skerman, £19 14s; W. Murray, £10 3s 6d ; J. Smiles, £5 lis Gd ; R. Woodley, £5 8s ; F. Mildenhall, £G 5s 8d ; A Mildenhill, £1 17s ; G Cook, £4 16s 8d ; G. Mcßoberts, £4 18s ; W. Pearce, £8 14s ; W. Cuthergtone, £8 ; H. Whelan, £2 9s ; T. Watson, £4 8s 4d ; W. Tutter, £8 7s Gd ; A. Mclnnis, £5 Os 3d ; A. Batten, £58 12s 6d ; Foxton Racing Club, £9 ; A. Spiers, £53 14s 6d ; Wilson, £17 14s 6d ; H. Austin. £6 ; Ingram, 7s ; Levin, Boyd, £4 5s 6d. ASSETS. 1 circular saw, 80s; lamp, 20s; hosing, 7s 6d. There was also assets on some flax. On Gtons 9cwt Sqrs 181bs shipped to Melbourne, an advance of £10 a ton had been obtained. On 7tons 9cwt Sqrs 171bs, sent to Levin & Co., it had not been ascertained what amount had been obtained upon it ; there were also Stons 2cwt 3qrs 171bs lying in Foxton sheds, which was to the good, and I about 14 tons in the paddocks now being scutched up. There was also lton Bcwt of flax which had been seized by Speirs. Mr Scott reckoned that the 14 tons now being scutched and baled would bring in about £196, out of which the cost of scutching, paddocking, baling and freight would have to be paid. The preferential claims were excessively heavy. The mill had been leased at a rental of 20s a ton on the output for six months, but the minimum rent was to be £70. £53 oi this rent was the first charge, after which came £9 for rent of the racecourse for paddocking, then all the wages men would come pro i ata. He wished to inform them, so that in case they doubted the point they could obtain legal advice, that wages men are not held to have preferential claims, nor the men who cart ; but the men who out the green flax, and the men who scutch, have a preferencial claim, it being held that their assistance is necessary in obtaining the value of the produoe, Mr Scott then turned to Mr Speirs and asked him for a copy of the lease, and remarked that he had previously at Palmerston asked Mr Speirs the same question, when Mr Speirs Baid that he declined to give it up. Mr Speirs replied that as he was at present advised he preferred keeping the lease himself. Mr Scott said that he only wanted to see the lease, and take a copy of it, and would then return it. He asked Mr Speirs again if he would let him see the lease. Mr Speirs made no reply. Mr Scott said he had asked Mr Speirs if he would hand over a porti n of his claim for rent, so as to find some money for the wages men. Mr Speirs said then he had said that he would not, but now he would | give up one fourth, if the wages men would give up one fourth of the i moqey coming to them, so as to provide a dividend ior the other creditors. He would not give up anything for the wages men. Mr Luxford proposed, and Mr Austin seconded, That the D» 0.

Assignee be authorised to take such steps as he thinks necessary to get a copy of the lease betweemllliott and Speirs. Carried. Mr Speirs said that as now the resolution had been carried he would think over the matter, and he would probably send the copy he held up to the D. 0. Assignee. The D. 0. Assignee said that he had never been treated in such a manner by anyone before. This concluded the business of the meeting.