Meeting of Creditors.

Taranaki Daily News, Volume XLVI, Issue 235, 8 October 1904, Page 4

Meeting of Creditors.

The first meeting of creditors in the bankrupt estate of Henry Isaac William Hurl©, bootmaker and board-ing-housekeeper, wa9 held at the office of the Deputy Official Assignee (Mr Medley.) on Friday morning, | fourteen creditors attending.

Ine Deputy Assignee s#u ut unsecured creditors amounted to £139 3s, and secured £75, under bill of sale and interest added, making the total liabilities £214 3s. The sitock-in-trade was estimated at £l, book dabts *6 12s 9d, and' the furniture £2OO, total assets being £209 12s 9d, leaving a deficiency of £4 8s 3d. The principal unsecured creditors were: Herbert Hurle £l3, John Hurle £lO, Louis Bullot £lO, J. T, White £l4 4s (id, Egrnont Boot Factory £l6 14s 2d, G. Rid dell £9 0s 9d, R. W. Dixon £7 10s, Braund and Tunbridge £6 17s 6d # G. Horne £5, Miss Shaw £5. The debtor's statement was read o3 follows I canto to Now Plymouth aibout three and a half years ago, and started in business at my trade as a bootmaker, in premises which I still occupy opposite the post office. About eighteen months) ago 1 took over the private boarding-house situate in Dawson-sta'eet, which had been carried on by a Mr Vandyke previously, To enable me to put ill the necessary furniture and effects I i rowed 1 the sum of £7 5 from the Mortgage Agency Company, per lb' T 0. Kelsey, giving tfceiu as. secure i ity a bill oi sale over all my furniture and effects in .the house. In addition to this my two brothers anc two friends lent me sums of money amounting to about £36. This ha: also been spent in providing additional furniture in carrying on the boarding-house. The business at its best in this house no more Uuin about paid its way, and during the last few weeks we wero there it could not have paid; but about three months a.g'G we took over Sarnifl House, which hasi been well and favourably known for many years as o private 'boardingfhouse, and experience has shown' the wisdom of th< shift, as the house has .been pretty well filled Bitice, and likely to.) have Wn ftr». and had wo gone on ai

such it Would bave proved a very profitable venture. But owing to domestic differences I found it impossible to continue the business, and decided to give it up. Ihis would result under the peculiar circumstances in a loss of all assets, and in order that the creditors might be better protected I have filed a petition in bankruptcy.

Mr Medley said that from a cur;ory view the furniture would realse about £l3O to £l4O a t a forced >ale, though it would have cosit what jankruptf stated. Since the st a te nent was filed further claims ha\* ,een made from Auckland on behal: 3 f Mr H. J. Johnston, of Auckland, vhit'h would materially reduce tilt lividond. It was for £SO, monej ,ent, with £25 16s 8d for interesl for a little over four years at 11 jgj* cent. However, he did not thinli more than 6 per cent, could b sharged under the Bankruptcy Act. Mr Hutchen said he appeared oi behalf of Mi- P. H. Johnston, M J. E. Wilson appearing on behalf 0 jankrupt. In repjy to the assignee the l>an£ rupt said he had no offer to make t< the creditors. In reply to his brother, ho details ;he transaction under which the £5( loan was made, which be claiinec aad been refunded by him. Mr L. Bullot if he had not Hade an assignment in Whangnrei ind if Mr Johnstone haid not com< n under that. Bankrupt said he had, but John stone had not entered a claim at his Dwn request. During tihe month of August £« 10s, including boarders' keep an* his own awd his sons' earnings hat been received, in September £4* L6s, a total of £7B 6s. Accounts amounting to £4O had been render ?d to him, in the main covering th< lwo months. Mr Herbert Hurle wished to know ,vh.it became of the money resoivot ay Mrs Hurle, and moved that si'.' be asked to furnish a balahce-staei jf re ca:pts ami expenditure during Lhe past three months. This was carried. Bankrupt gave particulars of Various sums, in all £lO, {jiven him bj Mrs Hurle. He had not received an; other money. Mr 11. Hurle said iJ the effects ir he house wero realised the estat< would pay 20s in the £. 'lhe bankrupt said his trade tic :ounts were under £3O. He had paic the rent himself, producing liis checjui i, oo k to refute an assertion by Mi lohastone, son., that he had not. The Deputy Assignee asked whethei the creditors would prefer the bill o tale to go on, or to guarantee tb iocured creditors the amount due. The bankrupt said the bailiffs ha< jecn placed in the house by Mis! Qoothroyd. a day before the rent usually paid in advance, was due, Kelsey paying the rent in oriler t( ;ave his own interests. It Came out in croSf«xaminatim hat one month's rent was due, but -lot the second. Mr Johnrtone said that his daughter (bankrupt's wife) would not take >ver the furniture at a valuation. Mr Ahier moved that the furniture x 1 sold in conjunction with lihe hold•r of the bill of sale. This was agreed to. The Assignee was instructed to ibtain legal opinion as to rejecting he claim of Mr P. H. Johnstone.