W. Waring Taylor’s Bankruptcy.

Poverty Bay Standard, Volume I, Issue 184, 16 July 1884, Page 2

W. Waring Taylor’s Bankruptcy.

[Per Press Association.] Wellington, July 16. An adjourned meeting of creditors in the estate of W. Waring Taylor, was held to-day. The official assignee reported that owing to the very unsatisfactory manner in which the bankrupts books had been kept, it was found impossible to draw up any detailed and reliable statement of the accounts, the books not having been properly balanced since the 30th June, 1873, and many of the ledger accounts not having even been added up for years. Some extraordinary revelations were made as to the bankrupts dealings with the trust money. So far as the present inspection has gone, it shows that out of £44,641 owing by the bankrupt, no less than £38,881 is due on account of trust moneys, which should have been invested by the bankrupt, and for which no security whatever exists. The assignee said there was likely to be very little realised for general creditors out of the landed estate, which would be found mortgaged up to the hilt, the only asset therefore was the stock-in-trape. Ultimately two supervisors were appointed, and the meeting adjourned.