MEETING OF CREDITORS.

Patea Mail, Volume VIII, Issue 1022, 16 April 1883, Page 2

MEETING OF CREDITORS.

_t The prevailing dullness was greatly relieved on Saturday by the presence of a large number of farmers and others from all parts of the district. The town seemed tomave quite a holiday appearance, but the reason of this influx of country people was anything but of a holiday nature. It was to attend a meeting of Mr A. Young’s creditors that they came, which meeting was held in Mr Hamerton’s office. On applying for admittance wo were informed that the proceedings were private, and therefore we arc unable to give a report of what transpired. The meeting lasted some hours, and rumour says that it was rather “ warm ” at times, but the debtor was ready with explanations and replies to the questions put. The general opinion outside seemed to be that Mr Young’s business had been a “ paper ” one, and that some of the transactions were of a somewhat intricate nature. Eventually, we believe, it was agreed to assign the estate to Mr Tennant, for the. benefit of the creditors. Subjoined is a list of assets and liabilities, whicli wo think will be found'eorrcct: ASSETS. : 140 acres of land, at £6 per acre, less payments to become duo, £1455, £785 ; cash in bank,' £400; lease of binding allotment in Egmont street, Paten, £34 < 640 ewes, £320, five pure Lincoln i rams, £3O; 1 double seated buggy, £SO ; harness, £8 ; cart and harness i

£l4; . draught horse, £25; baggy horse, £2O; draught horse and two hacks, £11; yearling filly by St Alban’s £10; four cows and calves, £24; 19 pigs, 3 sows, £ls 10s; Essex boar, £5; stack jiay, £8; steelyards, 2 boilers, £7 12s; single and double plough, £ll 10s ; scarifier, wheelbarrow, £5 10s; tools, timber &c, £l2 10s; saddle, bridle, and hurdles, £lO. . Total £IBO6 12s. LIABILITIES. Bank New South.Wales (secured) £7OO ; ditto unsecured, £ 109 6s lOd ; D. McGregor, £515 ; Barns and Higgle, £400; Nolan and Co, £263; Weybourne, £236-; Sievensand-Gorton, £233; W_ Cowern, £97_; C Days, £54; HS, Peacock, £74 ; Langley Bros, ,£3l J. Gibson, £2B; GT' Potto, £5 14s; F Bailey, £5; Dr Keating, £2 10s. Total £2753 17s lOd, . Contingent liabilities: Bank of New E . ■ Zealand (for Morris) £5lB ; W £l3O. Grand total £3401 17s lod.