THE EIGHT HOURS ROLLER MILLS, Mr J. C. FIRTH AND THE LOAN AND MERCANTILE AGENCY CO. THE POSITION.

Te Aroha News, Volume VI, Issue 367, 11 May 1889, Page 2

THE EIGHT HOURS ROLLER MILLS, Mr J. C. FIRTH AND THE LOAN AND MERCANTILE AGENCY CO. THE POSITION.

The Star to-night referring to Mr J, C. Firth's case says : The position of affairs between the Loan and Mercantile Agency Co., and Mr J. C. Firth is as follows : — Mr Firth gave a bill of sale ove.r his stock in the Eight Hours Roller Mill to the Loan and M.A. Co., and by this bill of sale it was admitted that £7000 odd was due. Under the bill of sale the Loan and M,A. Co. entered and took possession of goods, leaving the mill in possession of Mr Firth. After realising on a large portion of the goods they then issued a twelve day's writ for £7000 odd ; a large portion of the goods remaining unsold, and a large amount of the Loan and M.A. Co.'s debts still remaining due. The writ was served on Mr Firth under a twelve day process, which allows a writ to be issued giving twelve days to answer, but precluding the person upon whom it is served from putting in any defence to act on, unless he either pays the money into Court, or gets leave front the Judge to defend. Mr Firth was advised the twelve day's writ could not be issued for tha amount under the bill of sale j and proceedings were therefore taken by Mr Firth to set aside the writ,and Judge Gillies having left Auckland to attend the Supreme Court, the appeal proceedings were sent ; on to Wellington, with the result the writ has been set aside. Had the Judge's decision gone in favour of the Loan and M.A. Co. they could have taken inipiediate action under the deed, butin the face ! of the Judge's decision it remains for then* , to consider what other course they will now adopt. Some . misunderstanding appears to exist as f 0 ths actual pause of the mill stopping ; but the explanation simply is this : — Mr Firth, who was indebted to the Loan and' Mercantile Co., ground up all the wheat he had in stock. He had, however, no money to provide a fresh supply, and the Loan Company declined t» advance him any further credit for that purpose. What is now hoped for is that some understanding will be arrived at, by which the mill will be kept working, and the present financial difficulties tided over, (