LATEST TELEGRAMS. (By Electric Telegraph). (FROM OUR OWN CORRESPONDENT).

Te Aroha News, Volume VII, Issue 390, 3 August 1889, Page 2

LATEST TELEGRAMS. (By Electric Telegraph). (FROM OUR OWN CORRESPONDENT) .

LATEST PARLIAMENTARY. THE REPRESENTATION BILL. A COMPROMISE PROBABLE. WELLINGTON, Last; Nii<hfc. The Correspondent of tl»e Auckland Star wires as follows : Dr ]>f«wnian tells me that a compromise is almost completed between the Town and Country members, The Town party are willing to concede 28 per cent quota to purely rural districts, while the Country party are agreeable to accept this. Some members of t^e Country party object to any reduction of the swinging margin, but a majority of both parties are in favour of a compromise, and even the more rabid members of the Country party, such aj; Sir John Hall and Mr Seymour, are in favour of it.

MEETING OF CREDITORS. J. C. FIRTH'S ESTATE, ATJOKLAND, Last, Night. A meetjng of Firth's creditors was held i o-day. The petitioner in hi 3 sworn statement said that the large reduction jn agricultural values, caused hiqa to incur great losses iv connection with his Matnmata estate, which rendered it necessary to Pivumber his city property. The change from stones to rolleis in the mil.ing, also led to a falling away in

his flnor trade, and ho was obliged to fit up a mill on thejjnew principle. This ctmbltHl him to recover iuui extend his former tiado, but being unable to let tho old mill he maid not pay interest on hi.s unencumbeied estate, which compelled him to file a petition to be adjudged a bankrupt. He valued the old mill property at £84-,£ Bo, on which is a first mottgage of £12,620, and a second mortgage of £40,864, The latter secuiity was supplemented by a lien over the bond storos, valued at £11,477. Sundry shares in Bank N, Z. ; N. Z. Native Land Company $ N. Z. Stad Company ; To Aroha 0, and S. M. Co,; house and land at Mount Eden,etc, be valued at£28, 148 more. He valued the new mill property at£39,927;itis subject to a mortgage of £37,241 (This property on being offered for sale by auction since he filed, was bought in by the mortgagees for £5000). The whole of the stock-in-trade, and a portion of the book debts together, valued at £16,957, and a second moiety of Li* share interest in the Te Aioha S. and G.M. Co,, valued at £4262, are secured by Bill of Sale for a debt of £15,941. In preparing his schedule of assets and liabilities he had estimated a surplus of £12,458 from the securities mentioned, and unencumbered assets £2,800; made up as follows: Sundry shares debentures £928 ; book debts £527 ; bond store rents £896; ; household «nd office furniture, etc,, £330 ; machinery, chemicals, and wharf store buildings, £'250 ; trade marks registered £100; real property £116; cash in hand £153 ; unsecured liabilities to seven creditors amounted to £12,214. Since putting in his schedule he had omitted £153 7s lid, cash he now had in hand. Mr Button, representing the Bank N.Z., suggested the free assets be disposed of by auction, or in such a way as the Assignee might think fit, with the household furniture and effects*} as eaily as possible. Mr Lawson asked whether the book debt should be sold by auction, remarking t'ley showed £500 'good.' It was decided the book del fes should not be included in the resolution ; and various other things also enumerated in tho same way- Mr Button stated tho Bonk claimed the whole of the bonds' ore rent, and mill rent" as well. Mr W, Ail ken moved a resolution in the teuns pui*" gested by Mr Button ; Mr Longford seconded (he motion, which was cnrrie'l. Some discussion took place as todate of adjournment. Mr Button said it was desirable to have the next mepHns***A<» early as possible for Mr Fit Ill's convenience, as it was intended to vote various tiling to MrF : ith, and they were not prepared to do sejnst now. It was agreed to adjoin n till Thursday next.