Meeting of Creditors.

Mount Ida Chronicle, Volume XLV, Issue XLV, 14 September 1917, Page 3

Meeting of Creditors.

In re B. Monk. The first meeting of creditors in the estate of Benjamin Monk v (hotelkeeper, Kyeburn Diggings) was at the office of the official assignee on Wednesday. —Mr J. I. Frsser appeared for bankrupt, and Mr Moore represented the D.I.C. The bankrupt's statement showed that he owed £248 5s Id to unsecured creditors. His assets consisted of stock-in-trade £5, book debts £2, and furniture £4;— total £ll. The deficiency was therefore £239 5s Id. The principal unsecured creditors were: Otago Farmers' Co-operative Association, £2B; A.; and J. M'Farlane, £26 16s 7d; D.1.C., £3O; Strachan and Co., £l7 3s; Green Island Coal Company, £5 12s 6d; James Mitchell (Ranfurly), £ls; George Bell (Ranfurly), £5 12s 6d; Henry Lunan (Kyeburn), £7 5s 3d; J. Brown and Son (Naseby), £5; Bristol Piano Company, £2l 6s; Mrs E. H. Monk (Kyeburn Diggings), £7O.

The bankrupt's written statement set out that he commenced business as a hotelkeeper ait Kyeburn Diggings in February, 1915, taking over a lease from his mother. The rent agreed upon was £1 a week. At that time he owed various creditors about £7O. When he took over the hotel the takings were satisfactory, but shortly afterwards, owing to. all the. young men in the district going to the war, the takings fell to only a few shillings a wts«k. While conducting the business of an hotelkeeper he had worked as a musterer, miner, and during six months of the year, for the last two years, he had acted as a rabbit agent and a carter, of rabbits. The hotel business bad been run at a loss, and owing to the expense of keeping three horses for carting rabbi tB, there had not been a great deal of profit in the latter business. He. had not been able to see any prospect of bettering bis financial position, and had teen reluctantly compelled to file his petition. The bankrupt was exumined orally at some length, and it was finally decided to authorise the assignee to realise the assets to the best advantage. The meeting was then adjourned sine die.