OFFER ACCEPTED

Sun (Auckland), Volume III, Issue 845, 13 December 1929, Page 7

OFFER ACCEPTED

MORTGAGOR’S TROUBLES PROPERTY AT TE KUITI From Our Own Correspondent HAMILTON, Thursday. ! An originating summons was heard by Mr. Justice Herdman today, asking him to make an order sanctioning the acceptance of £SOO in liquidation of a judgment for £2.575 in the estate of the late William Dowling, of Mangaohae, Te Ivuiti. Dowling died in 1922, leaving an estate sworn at £5,100. This consisted largely of his farm, which was sold in 1926 to Allan Cross Finlayson and Walter Leslie Goldsmith. Subsequently, Goldsmith sold his interest to Finlayson. The latter got into difficulties, and the State Advances Department, as second mortgagee, foreclosed and later sold the farm privately to Finlayson for £1,732. Finlayson, again in difficulties, now offered £ 500 in full settlement for the judgment of £2,575, which Dowling's executors obtained against him. It was stated the estate had realised only £1,421, including this £SOO. The executors are Hubert Hine, solicitor, of Te Kulti, Henry Andrew Ellison, land agent, Te Kuiti. who are , empowered by the will to retain 5 per cent, of the net value of the estate. Hine, in addition, is authorised to make the customary solicitor’s charges. It was stated in the court that costs already paid totalled £250. Mr. F. A. de la Mare, for the Public Trustee, said he wanted to make sure the whole £SOO did not go in costs. His Honour made an order accepting £SOO and ordered the costs to be I taxed.