MEETING OF CREDITORS.

Temuka Leader, Issue 2162, 12 February 1891, Page 4

MEETING OF CREDITORS.

The first meeting of creditors in the estate of H, Williams and F. Colville, blacksmiths and wheelwrights, Temuka, was held in the Deputy Official Assignee’s office, Timaru, on Monday afternoon. Mr D. M. Eoss (Deputy Assignee) presided, and Messrs W. Priest, J. Blyth, E. Brown, J. Brown, and J. Hay were present. MrSalmond appeared for Mr J. Brown.

The statements showed the list of unsecured creditors to be—Guthrie and Co, £74 2s; J Anderson, £2O; Priest and Holdgate, £l6 10s sd; J Storrier, £6 12s 6d; J Philp, £1 5s sd; S Kasbelski, £2 6s Id; Mills, Dick and Co, £3 Is 3d; Temuka Leader, £8; Booth and Macdonald, £l3 14s 6d ; E Brown, £26 ; J Blyth, £3 8s 6d ; M McAteer, £2 ; A Colville, £l9 14s 4d ; H Greaves, £2 5s 6d ; J Fisher, 12s ; J Eowe, £1 ; J Elder, £3 13s lid; Trade Auxiliary Co, £4; Timaru Harbor Eoard, 8s 4d ; Temuka Town Board, £1 9s 2d ; Smithson and Eaymond, 10s 6d ; G Collins, £l2 ; W Collins, £3 9a 2d; J Duncan, £1 10a; total, £228 13s 7d. List of secured Creditors Job Brown (bill of sale

over tools), £9O; same (secured by stock-in-trade taken under' distress). £.69.158; J Plaisted (lien on winnowing machine), £11; total, £l6O 16s. Thb individual estates showed that Henry Williams owed £42 6s 6d, and had assets nil and Frederick Colville £7 ISs, and assets nil. ■ The Deputy Assignee said that on Williams and Colville filing be went oiit : to’ Temuka, and found out that Mr Job -Brown had put a bailiff in possession under a bill of sale simultanebusly with distraint for rent. He then explained the steps he had taken to stop the Sale in the inteiests of the creditors. On referring the bill of sale to Messrs Perry and Perry, at Mr Brown’s suggestion, ’they gave the opinion that it would not be right to go on with the sale. Mr Brown then stopped the sale, and the bailiff was allowed to remain in possession on behalf of the Assignee and on behalf of Mr Brown, under distraint for rent, he having been seven days in possession. Mr Brown’s claim was for £SO, and the assignee dared say that he was within bis rights in having the bailiff kept there. Seeing that the dealings between the bankrupts and Mr Brown had been so mixed up, he had carefully examined the bank* rupts as to them, and they had made the following statement: — That they had been in business in Temuka for several years, Colville putting in £2O, and Williams stock and book debts to the value of about £9O, Colville put in only £lB. and the partnership actually started in May. The premises were rented from Mr Job Brown at 25s weekly, the lease being for 7 years. In April, 1889, one Tomlinson, blacksmith, sold out to Mr Brown at £6O, and bankrupts rebought it from Mr Brown! paying £2O cash and giving two promissory notes for £2O each. The £lB put into the partnership by Colville went to Brown, leaving a balance due to him.of £47, for which he then had no bill or security, but was getting a bill of sale prepared. They both objected to the registration of this. Previous to this Mr Brown had advanced about £42. to,pay debts owing by Williams. To these sums was to be added £l, also owing, making .their total indebtedness to Mr Brown £9O at the time they signed the bill of sale. The cause of bankruptcy was want of capital, arrears due for wages, and pressure generally. In reply to Mr Blyth Williams said that Mr Blyth did object to supply them with goods on the ground that they were bn Mr Brown’s premises. He further told Mr Blyth that if Mr Brown did not act fair they could destroy his security by filing.

To the Assignee: They found themselves insolvent about 18 months ago; Guthrie pressing them. But the creditors agreed to wait. About a month ago they offered 7s 6d in the £. They were to pay 5s in cash and bills for the balance. Mr Brown agreed to lend the ss. Never had distraint for rent until lately.

In a brief discussion Williams offered 7s 6d in the £ for the estate; Colville could make no offer. Mr Job Brown offered 5s in the £ cash. Finally it was decided to adjourn decision bn the matter till Friday next.