BANKRUPTCY.

Taranaki Daily News, Volume XXXXV, Issue 129, 2 June 1903, Page 4

BANKRUPTCY.

♦ W. M. WOODHF.iD'3 ESTATE. Ah adjourned mettiag cf creditors in the estate cf W. M. Wcodbead was held in the offices of tha D.O.A. at 11.30 on Mondav. Present-: Messrs J. 8. S. Medley, D.O.A. (chairman), O. Ahier, E. Snowball, W. Ewing, Green (Morehead Nurssty Co.), T. S. Weston (representing Mr T. S. Weston, junr.), Spence (representing Taranaki Sawmillere' A.?soe : atioD). Mr Malone, the solicitor fot bankrupt, was also present. The bankrupt w*s present under a writ »f'habeas corpus. The tenkrnpt Sled a sta'ement of liabilities and ;»?s>t3. The statement showed :

Secured Creditors: T. S.' Wrstor-, Bclici'or, £735, estimated value cf Kcuriry, £861; Strafford Building Society, £270, estimated vame cf securities, £300; B»nk of New Zs&land, Stratford, £625, estimated value £1400; Bank cf New Zealand, New Plymouth, £SOO, estimated value cf jKCurily, £ISOO. Total amount of ••cored debt?, £2130; estimated value *f securities £3BBI.

Unsecured Creiitors: Taranaki Sawnillers Association, Stratford, £1500; Malone, McVeigh, and Anderson, solicitor?, Stratford, £SO; Smart Bros., £52 ; Nat J. Kin?, £52 ; W. Lovett, JEI9; T. Reader, £l9 7s 6d ; A. W odhead, £IOO ; Stcwf.it acd. Co. (Wellington), £25 ; Morsbead and Co., £l2 ; 6. Syme, £18; Thomson (clerk), JGIO ; Davsnny (clerk), £2 10s.

Total, £IBSS 17s 9d. Estimated surplus of cesuiities was iabie, £1751. Assets : Hoine, £6O; office, £2O ; propertyas per list, £425 ; estimated iurplu3 from securities, £1751. Estimated total, £2156. Estimated surplus of assets over liabilities, £296 2s 61 The estimated values of properties in list E were mads up a<i fellows: -Sharo in two Stra'.Cord, £100; goodwill offices, Stra'ford, C 100; Building Society shares, £25 : four acres, Pembroke Road, £2OO. The D.O.A. said ha had inquired into the position of debtor's back account end f.:ur.d in two cas-s there were overdraft, and in the other the Bank hid pent tha bxuk book to debtor.

The debtor was then sworn, and in reply to the D.O. A. said he knew where the bank-byok was, and would give an order for it.

The D.O. A. asked if creditors had say questions to ask. Mr Weston stud he did not represent a very Urge amount, as his son was but he thought the meeting should aopum till creditors had had time to consider the statement fihd.

Mr Spaces opposed any adjournment. The creditors were in a position now to deil with the assota. The D.O.A. said sll the sssets he held now was th? furniture, which he estimated was woit'a £SO. - Mrs Wosdheid had, however, sold a good £IOO worth, which fhe claimed as hers,

Mr Ahier (Henry Brown and Co.) moved that the furnitnre in the hinds of tin D.O.A. b9 bjU, and that the D.O.A. satisfy himself regarding the furniture sold that it was Mrs Woodhead'.», and also realise th 9 electric light shares. As proxy for G. Syooe, Mr Ahier seconded tl;9 motion, which waseavrieJ.

It was further resolved tha 1 ; the manner of disposal bo 1 fc to the D.O.A.

Mr Spance s»id is was clear they could not get at tin true position without the asastauce of Mr Shailer Weston. Ho could, if he wou'd, do a great deal to make d<s>«r the position regarding the sawmills, aud he wou'd nnve that the D.0.A., under s.cioa 92 of the Bankruptcy Act, take ths evidence of Mr Shai'er Wcs'oc, of Wellington, and Mr Hemy WHiarnson as to the concestion cf the bankrupt with the Pembroke Roar and Koru sfiwmiils before ths Stipoudi try Magistrate. Mr Ahier s onded the mo'.ioD,which waß canied.

Mr T. S. Weston sail he hoped reasonable) co'iee woi'ld fee given, as all

tho deeds were bete, and if his son had to come heie there was the question of his expenses.

Tbe' ; D.O.A. said Mr Weston's evidence[might be taken in Wellington. Mr Spence said it would cost as much to go to Wellington cr brief any ope to appear there as to brirg Mr Weston here. He would move to add to his resolution that the evidence be taken here.

This was seconded by Mr Ahier. Mr Mslore ssid there waß the question of privilege. Mr Spenco said there was no privilege in bankruptcy. Mr Malone said he did not say there was, but Mr Weston was not a bankiupt, aud the qurs'ion of privilege as etween himself acd Mr Williamson o.ight come in. Mr Spence said Mr Wes'on had promis '.d to assist the creditors in every possible way, acd in this case it was his own hard cafh that was involved, not his position as a solicitor.

Mr T. S. Westcn said he was sura his son would do all in his power to astist the creditors, consistent with the interests cf his clients. The motion was then carried to take the evidence in New Plymouth. Mr Ahier (Henry Brown & Co.) then moved that the bankrupt be publicly examined. Seconded by Mr Ahier, proxy for Mr Q. Syme.

Mr Malone said he could not see the benefit of this course. It was like putting the bankrupt in a pillory. He was on oath now.

Mr Ahier said they wanted to know where all the money had goto to. Mr Malone said tha bankrupt had told them all he knew.

Mr Ahier said they did not believe all the money was spent. Mr Spence said Mr Mabne had stated his willingness to assist in getting at the truth, but every proposal was met with quibbles of some sort. Mr Weston protested against this discussion.

Mr Ahier said they wanted to know where the money was. Tha debtor said it was only continuing his persecution. He had told everything he knew, and hidn't a penny. If he was examined for a month he could say no more.

Mr Ahier said tha creditors did not believe that. The motion was then carried.

Mr Ahier said there was no personal feeling in the matter. He had his duty to do, and Mr Snowball had to give an account to the shareholders of the Sash and Door Factory. They were only desirous to clear the matter up. They wanted to know where the money had go o to, and were going to get Judge Kettle to find out. Mr Malone said there was no personal feeling on his part, bus Judge Kettle could not find out any more than they had already done. The mesting then adjourned sine die. ESTATE OF P G. OLABKE, OF TK KIM. | A meeting of creditors in the above] estate was held at the D.O A.'s office on Monday afternoon. Present —Mr Medley, D.0.A., in the chair, Messrs Goodacre, Wilson (A. Clarke and Oo),! Quilliam (Messrs Braileford and 00. and J. J. Olark), of Wellicgton. The DO. A., read a statement of affairs as far as ha cou'.d asiertain, the bankrupt having left the colony. This showed liabilities about £550 and assets £7OO, of which, however, j about £550 was represented by book j debts, not expected to realise anything I like the amount appearing on the books. On the motion of Mr Goodacre it was decided to realisa the, assets, including the piano, as soon as possible. The assignee was instructed to see Mr Thomas relative to p.n.'s given by him to Olarke, and also to ioquire into the question of the payment of some money by bankrupt as deposit on purchase ot a farm.