MEETING OF CREDITORS.

Patea Mail, Volume VIII, Issue 1048, 18 June 1883, Page 2

MEETING OF CREDITORS.

A meeting of creditors in the estate of James Rhodes, bootmaker, was called for Saturday, at 11 a ra.; but at that hour only one creditor was in attendance, and the meeting was adjourned until this morning, at 11 o’clock. Below is a statement of assets and liabilities. Assets—Goodwill of lease of pari section 1, B 44 with shop and dwelling, mortgaged to Building Society for £l5O, £200; lease sec 11, B 9, Harbour, from Board, £lO ; lease sec 32, B 42,' .£5 10 < 3; -boots, and shoes, £24 -Os—Gd y book debts, '£2o'; TurnTtUre, clothing, and tools, £4O ; rent of office doe, £6 10s. Liabilities—Bank of New Zealand, £B7 Bs.; G F Sherwood, £3O ; Harbour Board, £ll ; G D Hamerton, £8 12s 8d ; W Howitt, £7; School Commissioners, New Plymouth, £5 10s; R A Adams, £4 ; G T Potto, £8; PC Gowland, £2; W Cowern, £2; R Hannah and Co, £3 2s.

The Examination. The adjourned meeting of creditors in the estate of Jas. Rhodes, bootmaker, was held at the Court-house at 11 o’clock this morning. Present-—Messrs G T Potto, R A Adams, H F Christie, G D Hamerton, G F Sherwood, and E Barton. Mr Adams was elected to the Chair on the motion of Mr Christie, seconded by Mr Potto. The debtor stated : One night Mr Suckling came to me, and asked me to deal with him. I stated I owed Hannah £SB, and I could not take up any bills. He said they would see that all right. I ordered goods that night. They came in the Wakatu. The Wakatu went on the breakwater. There were £IOB worth of boots in her, and all I got for them was £6O. I have got £26 6s 6d worth of boots in the shop now. I believe there are £lO or £l2 worth of good book debts. By the Chairman : I got Mr Holtharo to estimate the value of my building and he said £350 was a fair value. There is £6 10s rent coming to me. Mr Sherwood asked if the debtor had any proposal to make. Debtor : I am prepared to pay 10s in the £ in two months. Chairman ; Have you any security for it. Debtor : I am prepared to hand over to the trustee everything I possess. Chairman ; I am afraid that will not mend matters much. Why not get some person to guarantee that. Debtor ; I think I can get some one to guarantee it. By Mr Barton : In my list of assets I have put down everything I possess ; I own no horses or cattle ; eighteen months ago I owned a horse but not since. I have no jewellery; the last watch I had was about eight months ago ; my wife has no jewellery that 1 know of. She had a watch about eighteen months ago. I told Mr Christie that my wife had a gold watch that I wanted to sell, but it was not true.

[Debtor showed a disposition to prevaricate here, and Mr Sherwood said he (the debtor) was not improving his position,] By Mr Barton: Within the last two months I did not give a gold watch the property of Mrs Rhodes to Mr Brown to sell. I would not trust him with a gold watch. I gave him one on which to get up a lottery. The watch is sold. I sold it for £2 10s to a Maori.. The Maori’s name was Ruapeha, and I think he lives at Waitotara. Ho has been to irty shop a good many times but I don’t know if he deals with anyone else in the town. I think he is in Parihaka now. I sold the watch to him I believe, on last Friday week, at my shop. There was no one else present. I did not tell Mr Brown that the watch was worth £2l. I'tot'd him it cost £2 10s. I would not be in the least surprised if Brown said I did. I would not be surprised at anything Brown might say. I bought the watch at Dale’s sale. I think Mr Milroy was there. I don’t recollect anyone else.

By Mr Hamertoon : The watch was sold about three or four days before I filed ray declaration. 1 expended a portion of the proceeds of this watch in filing my declaration. On the motion of Mr Sherwood seconded by Mr Barton, Mr Adams was appointed trustee. Moved by Mr Sherwood and seconded by Mr Barton, “ That it be an instruction to the Trustee to accept a cash offer of 10s in the £, and this meeting stand adjourned till Monday 25th inst.” It was resolved that the Trustee’s remunerabe 5 per cent. The meeting then adjourned.