MEETINGS OF CREDITORS.

Te Aroha News, Volume II, Issue 60, 26 July 1884, Page 2

MEETINGS OF CREDITORS.

On Wednesday evening, the l(> K .h in^f., the first, general meeting of creditors in the estate of Mr Win. Bennett, of IV Aroha, carter, was helil in the Courthouse, To Aroha, before Mr Win. Carpenter, IX-puty Official Avignee. Mr Cuff, solicitor, appeared for the debtor. 'The assets were set down at £850 8s 9d, and tue liabilities vt £321 5s Od. The bankrupt in his statement attributed being in his present position through being unable to collect book debts to a large amount that were owing to liim, and to being pressed by one of the creditors for payment. As he considered he had got. assets worth 60s to the £„ he thought it best in the general interest of creditors to adopt the course he had done. After considerable discussion it was agreed to adjourn the meeting till next evening. On the case behig gone on with on Thursday evening, Mr Cuff, on behalf >>f the bankrupt, offered a composition of 20s in the £, payable in 12 months by four equal quarterly payments Proposed by Mr Frazer, and seconded by Mr Lavory, " That Mr Cuff's offer be accepted ; that two proper supervisors be appointed over the estate, and that the estate remain in the possession and under tue control of the bankrupt,- subject to this supervision." The resolution on being pnt to the meeting was canied Unanimously. Mr Carpenter stated that as soon as I raft of the composition was forwarded to him he would convene a special meeting to submit same for confirmation. Proposed by Mr Laidlaw, seconded by Vtr Frazer, •' That Messrs T. Wells and J. Lavery be apppinted as supervisors of the estnte." Carried. Proposed by Mr Cocks, seconded by VTr Long, ," That until the next meeting tue bankrupt carry on business as usual

milcr the supervision of the two surer'isors appointed." Cariied. ( n Wednesday ereninsv thp 18t!i nst , tho first general meeting oF •reditors in tlieestate of M> liM»vin ILullold, hotolkeeper, Waioroiiirotmii. a ■ankvupr, wa* held before Mr Win. Carpenter, Deputy Official Assignee, in the Court-House. Te Aroha. Mr Cuff, solicitor, appeared for the bankrupt. The assets were set down at £2976, j mil the liabilities at £1951 17a 7cl. ■ The allotment with hotel, stables, &c , ihoreon at Waioronaomai, beintf sol down at £2040, over which Mr ♦Fa giro r, of Auckland, held a mortgage for £1000. Tnn furniture was set down at £300, and Mr .hgzor held a bill of sale over it for that sum. The bankrupt stated in course of his examination that he obtained a cash advance of |£800 from Mr Jn.firtfer four days previous to his filing, for which sum he gave as security a hill of sale ns i'o'osaid. He s'aled he Was ohliued to fih' through beiny pressed for p,iyine/it of monies due, and that there was an execution in the house on the day it was opened, via., July Ist. The bankrupt st.ited that the hotel cost £1800 U> build. Several of the creditors stated a far heMcr building could be erected for from £1000 to £1300. After considerable discussion had ta'.cn place Mr Jailer made an olTer which was :i<* follows : " If the creditorin Hadficld's estate allow me to take over the hotel property and furniture for mv indebtedness, I promise to let them have the same back for £lhoo at the end of six months from date. Samuel Jahcjkk, .Inly 10, 18b4." As it was thought by those present property in the district would probably be worth considerably more in six months time than at present. Mr Fi-Hzer proposed "That Mr Jailer's olTer be accepted." On beiiiLf seconded und put to the meeting, the resolution Was declared carried.