Meeting of Creditors.

Taranaki Daily News, Volume XLVII, Issue 7758, 9 March 1905, Page 2

Meeting of Creditors.

HE IS. J. FROST. A meeting of creditors in the bankrupt estate ol Bduard John Front, labourer, of WalUra. wnv lit Id at the office ol the Deputy Official Assignee (Mr J. 8. Mejtey) on Wednesday afternoon. The creditor* present were : Mohdi'k Proctor, Caldwell, Mc.Vi'Hiur (ivpivsentative of tl'o Sash and Door Factory), H. Mrghl, and 11. Lenehan (by deputy). Mr Fitzherbert appeared for the bankrupt. The Deputy Ofiicial Awlgnee utaUxt that the amount owing to uiutecurod creditors was £72 8s #d'. The Taranaki Building Society was secured under mortgage to the extent of £lsl 18s Bd, and the arrears to date amount«d to £lB 14s 2d. Tha estimated total securities amounted to £2.'10. In his petition the bankrupt stated he first got into debt about three years ago, owing to lolling on two busfflelling' contract*, and from that date he had never baen abl» to recover his positioa. One or two unsecured creditors had been pressing him lately, and one in particular had taken out e chnrgibg order on his private nwidonco at Waitura. In the interests of hi* other creditors he had therefore decided to file his schedule. His average earnings for the past two year* had not exceeded £2 per week, and he had a wife and four children to maintain. The D.O.A. added that the Building Society would be willing ear trunsfer the mortgage, and leava £l4O outstanding. 'Hie bankrupt, examined under oath, stated that Bo waa now working ut the freezing works. Itis average earnings for the season, Ave months, would be 10s per day. lie had not kept any books ot account, or bonking account. He considered his property ought lo realise £220. Mr I'roeior, a resident of WaMara, said he understood thut in June last the property was valued at £243. llankrupt, in reply lo Mr l'roctor : I have no other interest in tho world. What I said previously was that the Interest in land :«tt Wangarec went to my brother on my mother's death. I will swear (hat I have no interest. I was paying my way as well as I could when 1 got alterations made to my house. I borrowed £6O from the ltuildlng Society. I cannot say what I then owed-. I swear that my earnings are nut more 'than 10s a day. Mr Kitzherltert pointed out that according 1 to the valuation stated by Mr Proctor the creditors could lie l>ald in full. It was not fair to submit tho debtor to auch a 'cros*examination. After further discussion it was r©4 solved to sell the property by tender. returnable in live weeks' time, if no sale be effected the properly to be offered at public auction. The bankrupt 's offer to pay 7s a. week rent in the meantime was acre pi I'll. On the motion of Mr Proctor, it was decided that the furniture be handed over to Mi's Vrost. wife of tha bankrupt. In reply to questions debtor said that he had no offer to make even if given time. He preferred to hand over everything to the creditors to realise upon. He thought they had good value for their money. The meeting was then adjourned until tenders for the iwle of the 1«"0perty are due.