MEETING OF CREDITORS.

Poverty Bay Standard, Volume XI, Issue 1300, 24 March 1883, Page 2

MEETING OF CREDITORS.

A meeting of the creditors of George Burnaml, of Waerenga-a-ahika, publican, was held in the Court House on Thursday afternoon, when the following creditor® were pre-sent-—Messrs M. G. Nasmith, Adams. Burnand, jun., Morgan, Mogridge, Page, Diary, Johnston, Graham, Adair, and C. Smith. Mr McDougal appeared on behalf of the I debtor, and Mr Finn on behalf of Messrs Thclwall and Co., and other creditors. ■ Tho liabilities were set down at £lOO4 7« 8d ; and the assets ut £6O. Mr Adair was voted to the chair. Mr Page proposed, ami Mr Graham ec- ' condeil, that Mr Carlaw Smith be trustee, j Carried. The debtor was then examined by Mr ; Finn. When ho commenced business, on the 9th of March, 1881, as hotelkeeper, he had no capital, but was iti debt. He imy have had ■ liabilities between £3OO and £5OO at that time. He could not tell what the receipts were. He had hooka, but they were taken under bill of sale by Mr Adair. He had not 1 got them. The. man in possession had them. Hu kept a bank-book for a while, but could not say how long. The counter-parts of the cheques would show that They at at home. Hu banked at the Bank of New South Walen. He could not say how much I money he had received during the last six months. The booK® only show what is owing to him —nut receipts. He hud banked up to a certain time, and had paid cash since. He could not tell the meeting what money lie hud paid away ; hie books would show to a certain extent. He had paid away more than £4OO or £5OO since he commenced business. £6O was the correct amount of his asaeta. He hud not owned any race-horses lately. The race-horses entered in his name belonged to Mrs Hughes, a lady living up the country. There was only one horse that might be worth £25. That was The Cat, , which he kept on condition that he was allowed to run it. He gave Mrs Hugos also a black horse, black mare, black filly, grey mire, and 4 saddles ; nothing else. Mrs j Hughes paid him in cash for them. He ! could not say how long ago he was paid for them. More than 3 months ago. He did not give her any money. He had never refused £lOO for the race-horso Cat, -not to Mr Johnstone or any one else. He had no money at the time of filing his declaration of insolvency. During the last month he had paid Mr Adair and others for his goods. He could not say how much the hotel was worth when be went into it. He was to pay £6OO when he went into the hotel. He cotild not say how much the valuation was. He had paid £5O to one of Mr Johnstone's men, that w.lh, he thought, the day before he went into the hotel. He had paid the money to Mr Gibbons. Borrowed the £5O to pay Johnstone. He had not paid all the loan back yet. He had not been paying all his creditors during the last three months. He could not say whether he had paid Mclntosh since Jonuory Irtst. His brother kept his books. He could not say how much his book debts were. He owed Mr Adair about £475. He could nut say whether that was exclusive of the bill of sale. He did not know whether Mr Adair was a secured creditor. He never had the bill of sale read over to him. He could not say what was the value of the stock-in-trade. He was had for £3OO more than he ought to have paid. Mr C. Smith pointed out that the debtor, according to his own statement, had gone into business £7OO in debt. Mr Johnstone said that Mr Burnand had told him that the hotel had paid him handsomely, and that he had lost his money at horse racing. Mr Burnand said he did not deny that he had lost his money at horse racing. He had been paying £l3 a month rent for the property. He dealt with Mr Johnstone in the first instance, and agreed to pay L'ffOOforthe property. Th»-re was no agreement between himself and Mr Johnstone. He had not filed his schedule ut Mr Adair’s request. Mr Adair and Mr Maude both strongly advised him not to file. Mr Finn said the best thing was to bring

' the debtor before the Judge el the Supreme ( .'ourt for examination. Smith said this was only another ini stance of how business had been carried on i in Poverty Bay during the last few years. Business people, in order to push their busi ness, frequently started men without any capital in these houses, trusting that they might pull through, and they certainly «lcscived to suffer; but unfortunately thcij were not the only sufferers. Other busincsl people in the town, not knowing what is be w ! hind the scene®, and thinking everything i® all right give credit, Mr Adair thought the best thing to bo • done was for the debtor to produce all docn- ' ment® tn the trustee, and then the trustee ■ can call another meeting. ! In answer to Mr Smith, the debtor Bald I the bill of sale was made out with Mr ; Johnstone’® consent, and signed by Mr i 1 he debtor ordered to produce dnnu» . ment® to the trustee.