MEETING OF CREDITORS.

Poverty Bay Standard, Volume III, Issue 276, 29 May 1875, Page 2

MEETING OF CREDITORS.

(From the Evening Star of the 19th inst.) A meeting of creditors in the estate of Mr. J. W. Waller, timber merchant, was held at the office of Mr. G. W. Binney, yesterday. Mr. J. Y. Stevenson occupied the chair, and about 30 gentlemen were present. Mr. J. B. Russell, on behalf of Mr. Waller, made a statement of the liabilities, which amounted to close on £l9OOO, while the assets were stated at £20,000. Of the liabilities about £13,000 are secured. The assets are described as principally consisting of interests in the following vessels : Derwent, Fiery Cross, Amaranth. Atalanta. Wild Duck, Agnes, Tam O Shanter ; and in the Tairua and Whatnpu •aw mills. The value of the vessels is set down at £3,500 with mortgages £2,400. The Tairua saw mill is valued at £6,500 and is mortgaged for £4,500, while 8,500 is given as the value of Whatapu mill which is mortgaged for £4,7000. There appears a surplus of £7,ooofor the unsecured creditors. Messrs. T. Morrin, J. M‘Cosh Clark, and G. W. Binney were appointed trustees. It was then resolved that the estate be assigned to them, and thatjthey examine the books and report to a future meeting, when it is expected some definite proposal will be made.