IN BANKRUPTCY.

Taranaki Daily News, 20 December 1918, Page 6

IN BANKRUPTCY.

N. G. G. WINKELMANN, ENGINEER. A meetings of creditors in the estate of N. G. G. Winkelmann, formerly carrying on business in New Plymouth as an engineer, was held at the office of the D.O.A. on Wednesday afternoon, Mr. J.,S. S.. Medley (D.0.A.) presiding, and about thirteen creditors were represented. Mr. Medley stated that bankrupt had not put in an appearance, and he had no particulars of the estate other than what was set out in the following letter he had received from Winkeimann, who wrote: — "In reply to yours of December 5 notifying my being adjudged a bankrupt, and also to your notice of meeting and further requests for statements of assets and liabilities and reason for present position, as it will take me some little time to do all that is required by you I must ask for an adjournment for six weeks, or at least one month, and the reason I am asking for this adjourn-' ment is because there is a possibility, though only a frail one, of my being able to satisfy all my creditors in full. If you will kindly accede to my request for adjournment I can faithfuly promise that my position will be at least no worse than it is at present, and that you will have in your possession the fullest details of items that I am able to prepare within three weeks of this date. The cause of my collapse is due to my being called up for military service at a time when it was required to have all my energy and efforts to straighten up declining business due to the war, and as soon as I was called in the ballot in the early part of the year creditors began to pres3 me. Previous to that I was able to carry cn, ami iiad gieat hopes of doing well. Roughly, mv assets, mostly expensive to realise, are £450 7s 6d, and my liabilities roughly £BBO 15s. There is one secured creditor included, namely, the National Bank of New Zealand, which holds the deeds ot my leasehold property sold to Mr. Fox, of Okato, who in turn owes £SO to complete, but against this there is £l2 which is due to one Native owner lor final completion. There is also an order on the Lepperton Dairy Factory, balance of amount due pending judge's decision, £95 held by the Bank of New Zealand, New Plymouth, which I presume will be state now There is also a property at Fitzroy which is held under a purchasing clause for . £7OO, but against that there is interest' owing to the amount of £37 10-. Thi?, properly is situated in a most ?aluable part of Fitzroy, previously known as the Taranaki Bacon Factory, and slipuld be worth £IOOO easily. I have a buyer interested at present. The only stock I have in the building is an cil engine valued at £25 and a few fittings £3, and a steam pump £2 10s. There is ft 10 h.p. boiler valued at £27 10s at Waitara. Mr L. Clare is in charge of it. I send you these rough particulars to facilitate the winding up of the estate. In the meantime I sincerely trust I am not too optimistic in hoping that in the six Svceks my prospects, which- are to-day valueless and cannot even be called an asset, will give me a happy issue out cf the trouble by paying' everybody in full. At present I have not a penny to bless myefijf with except what I earn at odd times, and am boarding in a room at 15s per week (with bed end 'breakfast), and sometimes have to «.-> without a mcyil."

The D.O.A. said lie had replied tl;at lie could not adjourn the meeting and that bankrupt's presence was necessary, but he had received no reply, nor any reply to his request for the key ,to the building at Fitzroy, so that he could see what was there. After discussion it was decided to adjourn the meeting to Wednesday, January 15, so that bankrupt could attend.