IN BANKRUPTCY.

Temuka Leader, Issue 2394, 11 August 1892, Page 3

IN BANKRUPTCY.

The first meeting of creditors of Michael Spillane, hotelkeeper at Arowhenpa, wa 3 held before the Pepvjty Assignee at Timarn on Monday. There were present the bankrupt and his solicitor, Mr Hay, and four creditors, Messrs Stumbles, Ralph, Maslin, and Turner. Thefollowingare the debtor’s hied statements :—A., Dr., unsecured creditors, as per list 8., £743 14s 7d; secured ci’editors as per list C., £750 Is 7d ; less estimated value of security £SOO, £250 Is 7d ; total debt #093 10s 2d. Or., stock-in-trade and furniture M Arowhenua Hotel, £7O. Deficiency, £923 Ifis 2d. B, unsecured creditors—Christchurch : Wood, Shand A Co., £322 lls 5d ; Ward A Co., £25 10s 6d; Loan and Discount Company, £9 10s ; H. Fuhrman, £3 os ; Taylor A Oakley, 4s Cd; Strange & Go., £1 2s Cd; Vincent A Co., £73 15s; Lyttelton Times Company, £2 10s ; J. G. Walsh, £2 17s ; Scarlett & Co., £3O 8s; T. J. .J’oynt, £5 i'}s ; Mipniing A Co., £O. Dunedin : Lane & Co., £3 12s ; M. Jolly, £2O (Is; McGavin A- Co., £sl; Speight it Co., £42. Timarn: C.F.C.A.,£<> IslOd; Cl A" T. Young, 13s 3d; E. Bowie, £1 103 (Id; Geraldine County Council, £1 Gs lOd; W. Masjlu, £4 3d; Priest A Holdgate, 12s lOd; Hibbard’s estate, £l7 10s sd; Bo>vpr A Fcrgusaqn, 12s Od; J. Maloney, £G 18s; Davies A Murphy, £27 8s bd ; J. Plplp, £3 3s lOd; Ballantyne A Co., £1 12s lOd; P. R. Taylor, £34 3s; W. Penrose, jun., £4 14s lOd; J. Ralph, £3. Tenraka: P. Taylor, £1 Os 4d; C. Storey, £2 ss; J. Sfra, 7s; W. MpMeod, £l3 14s 42 \ D. Hepry, £1 5s Cd; W ; Taylqr £ Co ; , £2 4s; J. M. Geraldine : j. Tijrnpr, £8 Gs Gd, TotM> £743 14s 7d, C. secured creditors —Bank of New South Wales, debt £750 Is 7d; security,

vnorfcow'e over Arowhenua Hotel and 14 acres°of land adjoining, and guarantee of George Stumbles. D other liabilities G. Stumbles, Tima’ru, liability £750 la 7d, secured as above; contingent on Mr Stumbles being renuired to nay off the abovementioned debt to the Bunk of New South Wales. The bankrupt was examined on oath, and stated that he had owned the Arowhenua Hotel about 18 years. Had been in possession this last time about two years. Before this had the British Hotel at Christchurch for 18 months, as lessee. The bulk of the debts in the statement were contracted while he was in the British Hotel. Lost a lot of money there. Had been trying to clear them off, and had paid off about £BO. Some of the Timaru debts had been contracted since he came from Christchurch, other’s in part. The furniture in the hotel was very old. He had nothing at all, not a penny, and could make no offer. Mr Hay said Mr R. R. Taylor had valued the furniture, and said it was not worth anything like £7O. It was valued at a private meeting at £SO. In reply to Mr Turner, it was stated that about £3O was due as interest on the mortgage. The furniture had been in the house 20 years. Mr Turner said that could not be so, as when MrScannel left he cleared the house. He wanted to know why the debtor went to the North Island; what he wanted with a piano ; and why one servant girl would not have done all their work well enough instead of keeping two. Debtor said he went away to collect old debts, and paid his way very well. Collected a surplus over expenses of £2 10s. The piano was got on the hire system “ to improve trade a bit,” and there was only 8s a week paid in wages. Had only one cow. Had a family of nine children. Mr Turner asked numerous questions, and expressed much wonder what had become of the takings, both at the Arowhenua and previously at the British. He wanted to know, how much was that deposit paid by Mrs Spillane, through Speight and Co., for a hotel in the North Island i The debtor said “nothing ” and that was the first he had heard of it. After some discussion it was agreed that if the contents of the house are not worth more than £SO it would be useless and wasteful to interfere with them, and it was resolved on the motion of Messrs Ralph and Stumbles—“ That the debtor be allowed furniture and stock in the hotel not exceeding £SO, including the amount allowed by law, and that he be recommended for discharge.”