IN BANKRUPTCY.

Taranaki Daily News, Volume LIII, Issue 120, 29 August 1910, Page 7

IN BANKRUPTCY.

H. H. PRESHAW'S ESTATE. A meeting of creditors in the estate of Harold Sickling Prcshiaw, was neld in the office of the 0j0.A., Mr. J. S. Medley, on Friday afternoon. There were present: Messrs. Somervail, Sole, MeEwen, Campbell, Blyth, Deare, and Humphries. The bankrupt was not present, but was represented by Mr. Standish, i

The statement of the bankrupt, put in by his solicitor, was as follows: "The immediate cause of my having to file wag that I was sued by Ryan, a bookmaker, of Auckland, for money owing. The debt was incurred some time ago by my betting with Ryan for a friend who failed to refund to me the amount lost. Ryan knew this, but held me responsible, and finally sued me. I did not defend the case, as I thought it would get into trouble with the bank, ! so sent up a confession. This was not j accepted, and so the case appeared in I the papers and finally led to my having to resign my position, Ryan meantime l having threatened me with. a judgment ' summons. If I had been able to keep | my position in the bank I could have | paid everyone, but as I had lost my posi | tion, and have absolutely no means, 1 thought it best to file. I am at present working on a farm for my keep, but hope to get employment shortly, and will make every endeavour to pay my creditors. When Ryan sued me I was a good bit in debt but could have pulled through. Just at this time, too, I had some losses on the counter, which 1 made good by borrowing, but did not disclose this fact to bhe manager, as 1 thought it would get me into trouble. I had been careless in money matters, .and did not realise that I owed as much as I did. Then these losses, and Ryan suing me for what I did not owe, made my position worse. I very much regret having had to take this step, but have done so, not with the intention of avoiding payment of my first debts, but so that I 'may not ibe 'hampered with court proceedings while I am working off those whom I recognise I should pay first. 1 have no means whatever, and so am unable to be present at the meeting of creditors, but the above statement explains my position and my earnest intentions for the future." The unsecured creditors were: MeI Ewcn Bros., boot importers, £6 19s 4d; i J. Blyth, draper, 10s; R. H. Campbell, f hotelkeeper, for money advanced, £10; W. Lints, hairdresser, £6 12s Gd; R. J. Deare, boot importer, £L 3s ?d; H. Collier and Co., music dealers, £1 9s 3d; H. C. Collier, money advanced, £5 ss; S. L. Humphries and 0., for liquor and aerated waters, £2 3s 6d; J. W. West, hire of busgy and pair, £1 ss; W. T. Hookham, clothier, 13s 6d; W. B. Preshaw, farmer, Masterton, £42; R. H. Somervail, farmer, £2B l«s 6d; Wm. Ryan, bookmaker, Auckland, £l4 7« 9d; A. L. Cooke, jeweller, £ls 17a 6d; J. Smith, wine and spirit merchant, £10; E. W. Wheatley, farmer, £.10; W. H. Broome, tailor, £l2 9s 6d; D. Penman, merchant, £3; M. Jones, stablekeeper, £2 7s 6d; C. Clarke, hotelkeeper, £2 10s; A. S. Hasell, 'tent maker, Ids lOd; executors of James Paul, 14s; F. Nicholls, laundryman, 8s 2d. iMr. Humphries said that they must have the bankrupt present. The bankrupt had gone into debt to the extent of a year and a half's salary, which was absurd. He animadverted upon the scale of wages paid by banking institutions to clerks in responsible positions, and moved that this meeting foe adjourned for one month, and that the bankrupt be present, and that he produce a statement of his receipts and expenditure for the last, three years. Seconded by Mr. Campbell, and carried.