Waring Taylor's Baukruptey

Manawatu Standard, Volume IV, Issue 195, 16 July 1884, Page 3

Waring Taylor's Baukruptey

MEETING OF CREDITORS'.

EXTBAORDINARY DISCLOSURES.

. (jISiTED PRESS. ASSOCIATION.) .",".■■' : V ' . * Wjo^inoton, July 15. The- Official Assignee's report makes gome extraordinary exclosuius m re--gard to the affairs of the estate. Large, sums had Wen received by the bankrupt iv trust for yarious estates, all of which had been passed through the bank account to his own credit, and ope rated upon as if they had been Ihis own. "moneys, m various trust estates pressure had been brought- to hear' fr"ni time to time by persons interested to compel the bankrupt to make restitution or giVe security. Shares belonging to trust •states had been realized upon by the bankrupt as if his own pioperty, and m some cases they had been replaced by otheis bought specially to make 'restitution when pressingly required to do so. Out of £44,642 owing by the bankrupt, no less than £3o\Bßl is duovpn trust money** which should have been invested by (lie bankrupt, and for; which no security whatever exists. Of i£lQoopaid by the South British Insurance Company, being amount of re-insurance on St John's Church, £900 jiad' been paid into bankrupt's credit at bank without a single entry to explain the transaction. He had further received J2550 from Hey. James Dunoan for investment. This had been ostensibly invested, and interest paid at stated intervals, but no securities or details of the mortgages alleged to have been, executed on Mr Duncan's, behalf ...can be found. Various assets, have, since been discovered not originally included m •cheduie.. The' furniture set down at £225 "realised L 350, less expenses. The Btoqk list shows a rednction of LI 3,460, on the amount m bankrupt^ •; statement. The house and personal expenses of bankrupt during last 3^ years had averageil L 1,600 per annum: The landed estate is mortgaged :"up to the hilt, and very little L* likely to be realized, the only assets DdingtW stock m trade. The bankrupt denies all charges of fraud. Two supervisors were ultimately appointed.'