NOTHING TO OFFER.

Taranaki Daily News, 9 June 1922, Page 3

NOTHING TO OFFER.

A BANKRUPT’S POSITION. A LABORER’S DEBTS. A meeting of creditors in the bankrupt estate of Jas. Mudford, described as a laborer, of Spotswood, was held at the office of the D.O.A. (Mr. J. S. S. Medley), New Plymouth, yesterday, there being three creditors represented. Mr. A. A. Bennett acted for bankrupt, who was also present. The list of unsecured creditors was as follows.- Fresh Food Co.. Wanganui, £180; F. R. H. Brice, Marton, land agent, £26; Leyland Motor Co., Wellington, £100; Farmers’ Co-op., New Plymouth, £6O; Charitable Aid Board, New Plymouth, £4O; H. Hill, New Plymouth, storekeeper, £5; J. Harvey, Fitzroy, butcher, £24; H. Harvey, New Plymouth, butcher, £8; C. Bryant, New Plymouth, storekeeper, £4* 15s; W. Gallagher, New Plymouth, baker. £3 15s; D.0.A., estate May, New Plymouth, £8; Dr. Brewster, New Plymouth, £l5; Dr. Wade, New Plymouth, £4; Friendly Society Dispensary, New Plymouth, £3; Morgan, New Plymouth, chemist, £3; H. Williamson, New Plymouth, timber merchant, £3l; J. Pellew, Spotswood, carpenter, £5; Stainton and Co., New Plymouth, merchants, £11; Jellyman and For.ies, New Plymouth, £1 12s; Hoskin Bros., New Plymouth, coal merchants, £1 13s; W. Broome, New Plymouth, clothier, £3 3s; W. Theobold. Lepperton, farmer, £9; Taranaki Daily News, £5 9s 2d. Total, £551 7s 2d. Assets were put down as 5 shares in the Farmers’ Co-op. £7 10s; furniture, £25; total, £32 10s. Deficiency £5lB 17s 2d. The D.O.A. said the assets were really nil, as it was doubtful if the shares would realise much at the present time, whilst bankrupt was entitled to keep his furniture up to the value of £25, at the discretion of the D.CLA. BANKRUPT’S STATEMENT. The bankrupt, in a written /statement, said: “I am a married man with seven children. Previous to coming to the New Plymouth district I was living at Turakina. In March, 1918, I came to New Plymouth and commenced farming on the Veale Road. At that time I owed about £5O. My cows were mortgaged to the Wanganui Iresh Food Company to secure repayment of the principal sum of £3OO. I had an agency from the Wanganui Fresh Food Company for carting milk. My average earnings were £2 per week. In March, 1919, I went to Bell Block, still continuing the agency for the Wanganui Fresh Food Company. I was also milking four cows. My average earnings were about £4 per week. During the 1920 season I continued driving for the Wanganui Fresh Food Company, and was earning about £4 10s per week. For the 1921 season I entered into a two years’ contract with the company, working full time. During September and October I was running i at a loss. In December the contract ' with the company was broken. I have ■ received no money from the company ; for November or December. I was 11s- j ing a large lorry under a’ hire-purchase i agreement. There is over £lOO owing for hire. Since December, 1921, I car- ' ried on as a general carrier for about two months. Since that date I have been working on the wharf. I have been sued by a number of creditors, and a warrant of commitment was issued to me. on which I was forced to file. I attribute my loss to the heavy debt due to the company and of my inability to make the large lorry pay. The Wanganui Fresh Food Company deducted certain amounts out of moneys due to me in reduction of indebtedness to them, but have never rendered a statement of amounts deducted. I have thus never known the position between the company and myself.’’ Writing on behalf of Mr. Brice, Christiansen and Sandford, solicitors, Marton, said that judgment had been obtained in the Magistrate’s Court against Mudford for £27 13s 6d, being the balance on a bill of sale in favour of Brice. On disobeying the order Mudford was arrested, whereupon he filed a petition in bankruptcy. They were of opinion that Mudford should not be allowed to go “scot free,” but should be subjected to a searching examination. It was alleged Mudford had converted the proceeds of the property in the bill of sale to his own use. RUNNING A LORRY. Bankrupt, on oath, said a bill of sale was given over two horses bought at Marton. Later, by way of collateral security, he gave a further bill of sale for £BO to Brice over four horses and a lorry. Later the lorry was sold to Brice for £4O, and bankrupt said he sold the horses for Brice, handing over to him the amount realised. He denied that he had converted any of the money to his own use. To the D.O.A. bankrupt said he had no banking account nor insurance policy on his life. All the available assets were shown. There was about £4 owing to him by returned soldiers down at Parihaka, an account for carting, which he could not recover. His wife had no money. His father was in a fairly good position, but refused to help him. He could make no offer to the creditors. When running the lorry in October the business did not pay on account of the price of benzine and the small quantity of cream to carry. In November and December the business would have paid, but the whole of this money went to pay off his debt with the Fresh Food Company. He was led to believe that the company were wiping off his debt. All his dealings with them had been on friendly terms to the day he left, though he had said they had better eart their own cream when he was “sacked” at two days’ notice. There seemed no prospect of creditors being paid, so the meeting ended, the D.O.A. indicating that a further meeting jtduld be held if three creditors so desired.