BANKRUPTCY.

Taranaki Daily News, Volume XXXXIII, Issue 49, 14 March 1901, Page 2

BANKRUPTCY.

Iv. GILMOUK'S ESTATE. Tnii firs'" irr-etin.' of creditors in the esiwte of R. Gilm u", grocer, convfini-d i-o Monday at the office of Mr. J, C. Davie?, D.O.A, lapsed for want of a quorum. Only one creditor was prevent. Pankrupt and his solieit-r, Mr. R, 0. Hughes, were also prps'nt, Assets a.d Liabilities, —The following is the statement:—Assets, Sock in trade, £165 15s; book debts, £B, vstimated to produce £5 ; cash in han r l it National Bank, 9s 6d ; furniture, £2. Total, .£173 2s 6>i. Liabilities (unsecured); Tuvnbull A Co.(Wellington), £IOB 15? sd; Burg-.ss, Praser & Co., £39 8s lid ; Nathm & Co. (Wellington), £24 15s Id; Mennie cfc Day (Auckland), £l3 53 4d; Oslonial Sugar Co., £l2 Os 51; Haddon &, Pottit (Nblxon), £ll 5s 2d; J. Gdmour (Mauain), CIO; Cock & Co., £8 2h 5d ; J. Ni.chclado, £5 ; M. Jon"s, £2 4s; W. jurv, LI 12s; Taranaki N«vs Co., £1; Okey, Son & Arnold, 17s 6d ; Awatuna Dairy Co., £2 2s, R. GilUpi?, £2 10s, Total, £243 8s 3d. Deficiencp, £7O 5s 9J. Privats Depositions,—The bankrupt made the fo'lowing statement to th? D.O.A., —I returned from Sydrey about two years since, and after staying with my brother Jyhn at Macaia for a few mooths, I went to stay wi f h my brother David at Fitzroy. Wh'le th c re lassis'edin his shop to work 00' a debt I owed him. During that time mv father died, and from bis estate I received £215, and £SO faun insurance on bis life I was out of employment for about a year, and spent all but £95, with which I started busin.:s? as a grocer in Angus*', 1900. I den'c think the busir.ess piid from the start. In addition to the rent of £5 a mon'.h, I paid an assistant £1 a week ali fir.Ht, subsequently £1 104 a week. I kept oniy a cash book, a?.jd Kave never Sa'anced my accounts, ar.d nnnot btate how the l--ss has beea mide, except that tho expenses were too h*avy for the amount of business done- Tlv sums shown as paid to Mr, Ricketts are for money borrowsd and return d to him. I took stock recently for lh<j purpose of arranging an ossignment. The stock, including shop fitting*, was valued at £165 13s. I was not able to arrange for an nssi«nmont, ond a< one of my creditors put the bailiff in I was compelled to file. I h»ivc given up all my property, and have nothing be yond what is shown in my statement of affairs, nor hava I anythirg m?r< due from my father's estate or any other source. I hand you one cash book, one day book, two butts of cheque books, and stock sheets. Invoices and papers aro on the file in the shop. I will endeavour to mako a statement of receipts and expenditure ic time for tho nvo'ir.g of cr.ditors. JOHN ABBOTT'S E3TATBPrivate Depositions. Batkrup' stated: I started in business as plumber and tiusmith about 27 years since, and continued until my bankruptcy. About 21 years ago I purchased the prerai es in Devoa-etreat, and have occupied it, sines theis The premises originally cost about £283, and I erect d the present shop and dwelling at a coso of a! .out £3OO. In order to raisi the money I mortg-igod tha premia- s and stock. I subsequently paid off tho mortgage and stock by a kan of £SOO on the propirty. This sum was pad oil' by a loan from the Public Trustee on the same security and is still owing Tn Djcambar, 1899, I convey'd the property to my wife subj -*ct to themortgage of £SOO in consideration of h.r gusranUeiug my overdraft at the Bunk of New South Wales for £250, and

one years interest thereon. The preMnt ovardrsft is about .£240. My wife has property in hn own nam> which she has acquired from liar own '•avnings, and to which I havo not, contributed either in money or material, md have rn claim whatever on Iwr property. I have taken s'ock periodicilly and balanced by bsoks, acd have ilvvays considered myself so'vont. I took stock thria years ng >, and not aga ; n until about two months' sin<>! when negotiations were pending fori the sale of my business. Two offers were received, ens of which I iuferdod to accept, but a writ was issue i by Messrs. Berry and Go., which up«tall arr.mvemen's, and prewnt"d a sale whicn would have enabled me to pay all my creditors in full. An a«sigm:iit to Mr. Beiry was 'hen su-'gosfci-d, but as some if the creditors objected to than caur-e T was compelled to file. My foa wain my employ, but left to «o t.> England, und on bi return, ab mt sixteen months since, he sauted busings onj bis own account but has not received t any assis'anee trom mo. I have be ni employed by him sioco my bankrupfc-v, j 6 'ait have no interest wlntever in lii.si ,-> businr-ss. I lnv.i drawn from the bus";- J ] noss 30s to 40s p.-r w.-ek, which sum! s has been handed to my wifo for house . keeping purposes. I havo had a family f of 11 children to m -iatain, and am net ! in ;i position to ui'.ke any offer to mv . crodi'ors. I have no property beyond , what hns bee-i disclosed in my s'.r.e- ' • menfc esnept 10 N.P. Sash .v.d Dki- . s:mies valued at about .£2O, which i , vvsro accidentally omitted from the i statement. , Meeting of Creditors.—The fi.-.-t , meeting of crfdi'w.j was hald at the office of tbo D.O.A. o'j Tuesday, March t sth. Present:--Missis. Berry and t Co., Briscoe M»Neil (A. Nowboldjf proxy), Smart Bros., A. & T. Hurt, & j Co. (D. Borry proxy), J. Morey, Mc-jc' K'wop Bros., Gravwrn and Oock, F. \i. \- t jJuckson & Co. (D. Kerry}, and Co. (D. Berry), Morrin and Co.°(D : Berry), Stewart Timber Co. (D. Berry), |o , S'uacklock & Co. {D. Beery), Bal linger it j&Oo. (A. Nowbold), J. Bu/.terwcrfch, llt jO. W. Solo. Bankrupt was presvntje j also his solicitor Mr. Weston. Mr. 1c Kerr attended oa behalf of the D.O.A. [ X who presided. L Bankrupt, in reply to Mr. Berry, ] ti stated :—I have not received nvney for j .\ any bills not p.tid into the bank. As' t l m time I convoyed the property tu my j .vi:'e I considered it wa-i worth £IOOO. At the tinv, f w*s getting assMtanco fioru my creditors to meet my bills. To Mr. K.s>rr: Could not toll when the ' property was merged to the Public ft Trnsto?, thought it «as 2yo*rs ago. It j' A was f(.-r the jp'irposa of guaranteeing sav j H oMrdreft with tke B»iak iksu mv wi?o ' SP

went surety; When I airanged with my wife to bocouio cure'-y I did nt undertake to do anything. It w-s arranged between my wifo and myself nbat if sh» bec-vna surety at sM Bank tor uay ovarJrat't I would f.'ivo her i)y pr perty under mortgage to <;io Public Trustee as security against the liability 'o the Bank. My wife keepa a board-inw-bouse, and has bad an average of eight to tea boarders during the last few months. She runs the bonding house on her pwu account, and wb itsba gets from tb.9 boardprs is hor own money. She has been keopiog a hoard-ing-houso for about eight ye:*rs. Recently I have been paying her 40s por week. The house is her own. All the debts for household purposes are contracted in my name. My wife has two house i from which she receives rent. One of the houses was built only eight er nine months ago. The house cost about ,£320. Mrs. Abbott paid ?or it. The vents from the two houses are 24s per week. All material supplied by mo 'o my wife has been paid for by her, aad will show iu the books. I cannot explain the entry of ,£2O credited to my wife as contra account on Novembar 8, 1900.

Mr. Newbold moved, and Mr. Bewlsy seoonded, that the Deputy Official Assignpe tako to inve tigw* tho Tansfor of the property to Mrs. Abbott, and report to a futura meeting, Carrifd, Mr. Berry was appointed supervisor to assist the Deputy Official Aesignec. The bankrupt was allowed tools to the valuo of £25. I On Maich 7th Mrs, Abbott gave her private depositions, thß effect of which wai that shi» had d jne well in her bon' !- ing-bousfi busines?, and had boon übl« to acquire what property sho had. Aase's and LV!>iliti' : s—Assess : Stock in trade, £747 7s 9d; book debts, £BOI 15s lid, estimated to produce £600; c-sh in hand, £l2 17s 3d. Total, £1360 59. Liabilities.—Secured : Bank cf New youth Wales, £250. Unsecured: New Plymouth-Sole Bros., £35 0s 2d; D. Berry & Co., £217 0s 2d ; T. White £SO; W. Morey & Son, £37 17s 2d; J. B-sllringer, £l2 10s 8d ; Gas Co., £2O 0s 2d ; E. Diokr.'ll, £1 18s 3d; Dr. McCleland, £7 ss; Chamb-r:s£4 18*; J. W. West, £ll 7s 6d; W. Mcon, £5 17s; Smartj Bros., £ll 14s9d;T. Wainwright, 2s; J. Paul, £2 10*; W. Bayly, £l3 19s lO); J. Whitaker, 3s; Sa«h and Door Co., £64 7s; N. King, £3 18a! 3d ; Bnr»ess, Eraser, & Co., £3 4s 6d; P. Lealand, £5 ss; McEwen Bros., £l2 18s 6d; Bros., lis 6rt; H. Giimour, £7 8s 6d , J. West, £5 7s 6d; M. Jones, £1 16s; A. Goldwatr, £11; W. Morey, £9 5s 4d;' Joseph Hooker. £4 13s; G. A, Cor-! n'-y, £lO 16s 8d; A. D. Gray, £1 7s 6d; Takanaki News, 10s; C. H. Forte, 15s; Grayson & £4 4s 9d; G; Cliff, £1 3s 3d; R. Smith £l3 ss. Wellington—Stowsrt &Co, £94 19s 8.1; A. & T. Burt, £173 13s 3d; Briscoe, McNeil, & Co., £9O 0« 4d. Auckland— T. & S. Morrin, £24 IC< 9d ; Wingate k Co., £4O 9« 5d ; j Auckland Drug Co., £6 19s; P. E. Jackson & Co., £l3 3s, Danodin—H. E. Shacklock, £32 5s 9d, Total, £1386 4s 6d. Estimated deficiency, £26 0a 6d.