HIGH FINANCE.

Manawatu Herald, Volume XLII, Issue 2084, 31 January 1920, Page 3

HIGH FINANCE.

BUT UNREALISED EXPECTA- '■ . TIONS. MRS. GRACE MuORE’S AFFAIRS. CREDITORS ASK QUESTIONS. A meeting of the creditors of Mrs Grace Edith Mpore, late of Ford on, was held at thei Courthouse, Wanganui, on Thursday, before Mr E. M. Silk, the deputy Official Assignee. On behalf of the bankrupt, Mr T. B. Slipper said she was ad.jmliealed a bankrupt on the 17th inst., and her position was now dependant upon her family,’affairs. Ho could not jiay what the exact position was, hut oilier relatives were concerned. She hoped to pay her creditors in full in about a fortnight, and he suggested the examination should he adjourned. Mr N. G. Armstrong; The creditors would he delighted to know they were going to ho paid in full. A crodiloy: \Ve have been hearing all sorts of stories. The-Deputy Official Assignee saidhe had no information except a list of debts totalling £095 4s Id. He proceeded to read the same, tlit*, chief creditors being Therkleson, Ltd., £107; Paul and Coy., ,CLI3; Gregor Gregor, £550; and H. M. Helm £7O. Mr Bcllve; Those are not all the creditors. Mr Silk: It: is all that is on the list. In reply to quest ions by Mr Silk, the bankrupt said Therkleson's account was for furniture, and Paul and Coy.'s for clothing ’for the children. Mr Helm's account of £7O was in connection with a properly she purchased. She expected her brother to send her some money, a.ml as it did not come she borrowed £550 from Mr McGregor to acquire the property she was after. The only security she gave for the £550 was a P.N. She paid £250 on the house she bought at Gonville,' and £250 on another properly at Sandy Hook.

Mr Silk; What are your expectations/ Have you any assets?— -N'o, hut 1 expect to gel family assistance. Are you at- the mercy of them'?1 am legally entitled to a cerium amount. There has been money due to me since 1 was 21. I should have been getting £SOO or £OOO a, year, in Oe.loher of 1918 I got. £250 from my brother at Levin, ami for about six months alter that my mother gave me between £OO and £45 a month. When you incurred I lie debts what expectations had you of. paying them.’ —i expected to receive the money owing to me. 1 have no! come here to defraud my creditors. Mr KellveiDo yon. remember telling .me you had , ; /9,000 through the hand: —.No, I did. md have it. Do you remember saying your affairs, were all seltled/ —My brother led me to believe he had put a draft through. A full her (pies! ion by (he Deputy Official Assignee elicited Ihe fact that bankrupt had borrowed £HH) from a Mr Osborne at Fo.xton. Mr Hussey: Did you haw. a haul; account/ —h\’o.

But yon issued cheques ' —Yes, cii the National Bank, whore (ho money was to bo lodged. Do you remember telling one of Paul's employees you had bought two,houses? —No. Have you a. cheque book? —Xo. You gave a cheque for the depots on the houses?—When Mr McGregor gave me £550 I used £SO and paid £250 on each, property. 1 also gave a ehc(|iie for £IOO on a motor car in anticipation of the money cuuiinu. A man at the motor garage tilled it in. Mr Mewlmru: When you purehasid some goods at Crichton and .Newman's you said the Public I nisi would send the money ninny.—Oh, no; the young lady there must have misunderstood me. The examination 'was adjourned in order that bankrupt might furnish further details, the eredilors in the meantime being eheered by an assurance' that if the .money came she wo,uld be able to sellie her debts in full Wanganui Chronicle.