W. Taylor's Bankruptcy.

Poverty Bay Standard, Volume I, Issue 175, 5 July 1884, Page 2

W. Taylor's Bankruptcy.

[Per Press Association.] Wellington, July 5. A meeting of creditors of W. W. Taylor was held yesterday. The Official Assignee stated that an expert had valued the stock of the bankrupt, and his estimate was that the valuation put down by Mr. Taylor was £6,000 or £7,000 in excess of the real value. The bankrupt denied that the expert’s valuation was correct. Mr. Taylor attributed his failure to high charges of interest and unprofitable returns from the Manawa run. He had made no distinction between trust accounts and general accounts, because he was in the full conviction that he was in a position to pay every- penny he owed. The bankrupt was not in a position to make any offer to his creditors, nor were there any people who would guarantee an offer he could make. After some discussion it was suggested that the Official Assignee should retain Mr. Taylor and his staff, and in reply the Assignee eaid he should decline to act with Mr. Taylor at present, because it was impossible to know what ulterior steps might be taken. The meeting was subsequently adjourned until the 15th inst.