IN BANKRUPTCY.

Taranaki Daily News, Volume LI, Issue 249, 14 October 1908, Page 4

IN BANKRUPTCY.

A meeting of creditors of James \\"iliani Berndtson, greengrocer, ot Ne'V Plymouth, was held on Monday. Air. J. S. S. Medley, Deputy Ollicial Assigns, presided. Fourteen creditors were present. Mr. A. li. Standish was present 011 bankrupt's behalf. The bankrupt's statement showed that the amount due to unsecured creditors was ij2(Ui lis -id, and other liabilities were .11") ss—a total of -Ci'.S 1 ltis 4d. The amount due to secured creditors was 17s, and the estimated value of tlie securities .C3;5.. leaving a margin of .CI 11 !Js. Ihe assets were: etc., X 44 lis; bo >k debts, £1(1 Is 4d, estimated to produce £l4; furniture, '.Clj ss; surplus from securities, -till os. Total, £IS4 14s. There was therefore a deficiency of W7 2 S 4d. The secured er.Jitors were Airs. A. Bundle (who had a bill of sale over the furniture, etc.), .C 25 17s; and S. (luscott. X.i'.is. This latter amount was the amount of the principal and interest due on the mortgage over bankrupts property of two acres at Smart Uoad. Bankrupt hail.bought Tlie freehold of this property for £225 and mortgaged it for C2SU. Bankrupt had been pa lit £•2O rent (two years in advance) on tbis property. There, was very lit. l .'.! 1 slock in the shop. There was not inu.'h to be said about the bankruptcy except that the uankrupt hail kept practically 110 hooks. There was a sort of ledger in which tlie customers were debited with tlie amounts owing by them. There was nothing to show what the takings in the business were beyond In" bank-book (produced!. In reply t>o Mr. Medley, bankrupt said his takings would average somewhen about ,€l2 a week. The expenses of the business were about ,£l2 per month 111 reply to a creditor, bankrupt- said he had not taken any. fixed sum Deiweek from the takings for the support of himself and family. They just took it as they needed it. They lived very economically, and he thought 25s a week would cover the household expenses.

After bankrupt had answered a few questions it was decided that the -Assignee should realise tlie estate as soon as possible. It was also decided that the auction sale of the furniture, elx. should be held by Mr. L. A. Nolan, ):- being the largest creditor.