TRANSACTIONS EXTRAORDINARY.

Taranaki Daily News, Volume LII, Issue 31, 2 March 1909, Page 3

TRANSACTIONS EXTRAORDINARY.

BANKRUPT ESTATE OF ALFRED BEESTON. , A meeting of creditors in the estate of Alfred Beestoa, motor engineer, was hold yesterday afternoon. There wore pit-sent: l'iie Deputy Official Assignee (Mr. J. JS. !<. Medley) presiding, Messrs. <;. <Jivy (for Mr. .Smith and Mr. K Mower, wages claim), ,). e. Nicholson | {tor Messrs. Nicholson and Bov, K. \\'. K Bond, and the Xew Zealand ExpypssO.i.), U H. Weston (for Messrs. Scott. Morgan and Co., Cliristehureh), J. tJavrton, T. W. Welch,.J. Hollo (Okev and Rollo), L. B. Webster (Webster Bros.), (J. 11. Burgess (Burgess, Eraser and Co.), W. Jenkinson, S. Smith, W. C. Weston (Taranaki Herald), and the Taranaki Daily News. The D.O.A. 'explained that this was of necessity only a preliminary meeting, in order to adduce information, of which as yet lie had but little. Beeston had ! been adjudicated a bankrupt upon petition on February 25th. A distress warrant had been obtained and levied upon his furniture by Mr. Hayden, but owing to the bankruptcy ti.a money had been paid iij to the Deputy OJl'ieiaJ Assignee. The only otlvor assets were some goods in the garage in Liardet Street, but[ against them was Mr. Bond's claim for rent of garage. There were four motor cars, sundry motor-car appliances, belting, electric motor, and so on. Of these

goods Messrs. Scott, Morgan and Co., of Christchurch, claimed the cars, which they alleged had been sent to Beeston on consignment. This was a master which he had, of course, been compelled to refer to his solicitor, Mr. Hutchen. There seemed to be evidence that the cars were Mr. Scott's, but there was doubt as to other goods which had apparently been obtained from other firms. Mr. Grey asked if the assignee had obtained possession of bankrupt's books. Mr. Medley answered that the business had been conducted practically without books. There were only a day-

book and a casli-book, kept in such a loose manner as to render it almost im-

possible to obtain any information from them.

Mr. Hutehcn: All his correspondence seemed to have been conducted from his hotel.

.Mr. Welch said he had been engaged as secretary or accountant to file bankrupt, but although he repeatedly urged him to institute a proper system of bookkeeping, and made several appointments with liirn with this end in view, practically nothing was done. In answer to Mr. Grey's question, "Does anyone know where Beeston is?" tliere was no affirmative answer.

Mr. Hayden said the bankrupt had obtained a good deal of credit upon the assumption and the representations he made that these ears were Beeston's own. He had told Mr. Hayden tliey were. The cars had been used by him for hirrag out. Mr. W. C. Weston: l's there araty chance of bringing him back?

The D.0.A.: Tliere would have to be a subscription to cover expenses. He understood that the police could find the man if required. Mr. Burgess said £IS 10s had been guaranteed by the creditors for the purpose.

Mr. Grey said that perhaps tile police would locate the man without great expense. Having done that the creditors could consider what action they would take.

Mr. Hayden asked what had become of the " big red ear " that Beeston used to drive about the town. The D.O.A. said .Mr. Alexander had that. He had written to Jlr. Alexander about it, and had ascertained that the car was Mr. Alexander's own property, paid for on July 17th last.

Jlr. Hutchen said that Jlr. Alexander bought the ear for s-COO on that date, and on the same day sold it back W> Beeston on a twelve months' hire-pur-chase agreement for £O4B. The quarterly instalments were not paid, and Jlr. Alexander obtained possession of the car just before the first act of bankruptcy. On the same day Beeston had remitted £SOO, out of £550, the price of the car, to Messrs. Scott, Morgan and Co.

Jlr. C. H. Weston said that in the event of the D.O.A. relinquishing his claim upon that car (Alexander's) Jlr. Scott would lay claim to it, for the sale to Beeston had been made on the express understanding that the property in the car should not pass to Beeston until the whole of the purchase money had been paid to Mr. Scott. There was £SO still owing. Jlr. Grey asked if there was anything in the books relating to the sale of the motor-car -to Mr. Cartliew.

It transpired that a car had been sold to Jlr. Cartliew, who paid £SO down and gave a racehorse (a trotter, Koliina) as representing a further £IOO. That horse was reported to have won £IBO in stakes since, but tile stakes had not been paid to Beeston. The horse hail since been sold, but it was not clear that Beeston received the proceeds.

The D.O.A. said lie understood that Beeston had sold a car to a man named JleKcnzie, who gave a P.X. to Beeston, and that P.X. was being held by Jlr. Bond. Jlr. Jenkiuson said the car was at present at his works, under repair. Mr. JlcKenzie had not taken delivery. Jlr. C. H. Weston said the position seemed to be that Beeston, as agent for Jlessrs. Scott, Jlorgan and Co., used, to fly about the country in that firm's new cars, but sold only second-hand cars, which, of course, was of no use to Mr. Scott,

Mr. Hayden asked if there was any use in bringing the bankrupt back.

Mr. Jones: There's a certain amount of satisfaction in it, anyhow. Mr. Scott said that in the past few weeks, even since Beeston left, Hundreds of pounds worth of his firm's goods melt, ed away. Even while the bailiff was in charge (his ears were running about during the day. It was iniquitous.

In the discussion it was shown that several of the emlhvrs hau obtained goods just before the bankruptcy, evidently " smelling something wrong.'' Some of them took tyres and articles ,of considerable value. Mr. Weston said he had evidence that between Saturday, when the bankrupt left, and the Tuesday following, the place was practically "skinned." One man said tu another, " What do you want? Here's your opportunity.' He was able and willing to lay the Assignee on to the proper quarter to get thiis evidence.

Mr. Medley undertook to make rigorous enquiry.

Mr. Scott moved that the Deputy Official Assignee take steps to have tlic bankrupt Beeston brought back to New Plymouth.—Carried.

The subscription list was quickly brought up to the £.20 which, it was understood, was required to enable the police to take action. The meeting adjourned indefinitely.