MEETING OF OREDITORS.

Temuka Leader, Issue 1712, 17 March 1888, Page 2

MEETING OF OREDITORS.

A meeting of the creditors of Mr Williard Lawion took plaoe in the Gteialdino B.M. Courthouse yesterday, when tho debtor was pub ioly examined before Mr W, 0. Bfswick, De.ity Assignee. Then were torn* six or ley i creditors present. Mr F. Wilson Snr.h (manager at Greraldine for Messrs W:; : ie and Co., Timaru) was present on be* half of the debtor. Mr H. B. Webster was pre: mt on behalf of Mr W. Postlethwaite. Williard Lawson, sworn, said: The cause of \t,j bankruptcy was pressure by- Mr J. M'. wdell. I oould not collect my book debts. My liabilities were not increasing. When Mr iluhdell first pressed me I carried on aim it a cash business. Aft.* 1 was pressed whi.fc little money came in I mid to pay rant and expenses of carrying on my business. I hav 5 no offer to make the oreditors.

Tj Mr Mnndell: It was not ay wish to fills, I had no thought of doing to until you put the bailiffs in the house. Yon gave me the option of calling a meeting of my creditors whan it was too late) that is, when the bailiffs were in. I could not say how much I have received ainoe the 10th Feb. It may have been about £3O. I dont think it was £SO. Can't say how muehmoneyl paid away since. It was for stock going into the shop. The books would show. I have paid some money on account to some oredityrs since February 10th< Paid Mr Allan McDonald some £lO to £ll. It was not on the morning I filed, It. was about the 7th of Feb. I paid him with some cheques I had in the house. I eannot remember whose those cheques were. I gave Peter MoShane the delivery of some pigi about the #th of March. I am quit* sure about that. MoShane was a creditor of mine on the morning I filed for about £25. I sold him the pigs since then. He took the pigs on account of money.owing to him. The reason I had for selling these pigs was that they wore getting into Mr Taylor's property and damaging it. I saw no way of paying MoShane, and he agreed to take them as part payment. He got the pigs on the Bth Maroh. I dkl not wish to make Mr McShane a preferential oreditor. I did not consider it a wrong thing to the other oreditors to do ao. You compelled me to file. You did offer t« withdraw the bailiffs the morning of the Court, but it was too late theui I did not consider it wrong to pay Mr MoDonald £ll in preferenoe te other creditors, I had my account* in the hands of a collector, and thought the money was coming in. Mr MoShane was at me several times to pay him hii aooount and I eould not pay, so I offered him these pigs. MoShane thought I was asking too muoh for them, and did not close for a week, Cannot remember what I valued the pigs at to you. ' I sold other pigs to Crrimsey—seven of them for £3. They were young pigs. Mr MoShane got eight. I put down £l6 to MoShane for eight pigs, and £1 for 15 suokers—£l7 in all. Ido not remember what I valued th pigftJ had to you at. Think I laid it wai about £2O worth, Did not lay it was close of £4O. Have killed four or five einoe that. Do not remember valuing them piga on the 10th February at £35 as an asset in my estate. My reason for selling them was partly beoauae they were trespassing on Mr Taylor's property, and he had threatened to shoot them. Mr McShane was also praising for his aooount, and wanted either the money or the pigs. I paid for the Burnside Nursery one quarter's rent in advance, namely, £8 15s, or £ls per year. ' To Mr Beswiok: Mr Corksry'i account in the books was settled by the composition of 7i 6d in the £ he paid. Mr Mundell here moved that the estate be left in the hands of the Official Assignee, and • that he be allowed clerical expense! in administering the lame. Mr Webster, on behalf of Mr Postlethwaite, said that at present that gentleman was keeping the shop going so ai to keep the connection together. Heaiksd nothing for the goodwill, and was willing to give up the business upon the settlement of his bill of gale for £SO. If the oreditors could see their way clear to let it to anyone he would be willing to keep the connection together in the meantime so ai to assist the creditora by what means he oould. If the creditor's liked to take that offer well and good; if not, ho must take steps in tho matter. The bill of sale was over hones, earts, sausage machine, etc

Mr Mundell thought the offer of Mr Postlethwaite to assist the creditors ia that way wm rery good. Ho (Mr Mundell) thought there wm a goodwill, and that it could be realised for the benefit of the creditors.

Mr Webster said Mr Postlethwaite was keeping the shop open for the benefit of the estate. If it were elosed the connection would be lost. He would like to hear what creditors would do.

Mr Pearpoint wished to know if creditors would be in any way bound by such a resolution. He would suggest that an agreement be made by the Assignee with Mr Fostlethwaite that tenders be called for the good* will of the business on the understanding that the creditors took no liabilities.

Mr Mundell'i proposition was put and carried. Mr Mundell also mored that the Official Assignee be allowed the usual expenses out of the estate.

This was seconded pro forma by Mr Webster and carried, those present being of opinion that it was unnecessary as they were allowed by the Aet. Mr Mundell asked that the proofs of debt handed in be read orer. This was done. Among them was one for [£79 12i, amount owing to Mrs Lawson. The debtor explained that this was money lent to him by Mrs Liwsoa, and was her own sepuate pro* perty at the time of her marriage. Mr Mundell moved on behalf of himself, as being the largest creditor, and of those whom he represented (riz., Messrs Graoie, Maclean, and Adam, and Mr K. F. Gray) —" That it be taken upon the minutes that he protested against this claim being allowed."

Mr Webster said he happened to know that Mrs Lawson had money in her own right at the time of her marriage.

MrMundell moved—" That the Deputy Assignee be allowed expenses out of the estate for legal opinion! that mar be re* quired." No one else oaring to second the proposition, Mr Mundell, as proxy for the firms mentioned above, did 10 himself, and it was oarried. ~~

Mr Pearpoint objected to that. He did not think a proxy had power to second any. thing.

Mr Mundell moved that the estate should pay no expenses towards a lawyer for th debtor as it was not the wish of the creditors the debtor should file. He thought it was a pitiable thing for a man to rush into bank* ruptoy without any wish of the creditors and then ask the estate to pay for it. Mr Pearpoint objeoted to these remarks. The debtor had been foroed into the bankruptcy Court.

Mr Mundell said they were theri to discuus the debtor's position, and he thought every* thing should be fully and freely ventilated. After some further disoussion of a conversational nature the meeting terminated. The liabilities in the estate were stated to be £Bl4 and the assets £329.