MEETINGS OF CREDITORS.

Temuka Leader, Issue 2657, 10 May 1894, Page 3

MEETINGS OF CREDITORS.

A meeting of the creditors of Joseph Ogilvie, of Timaru, blacksmith, was held last] Monday before the Deputy Assignee. Mr J. W. White appeared to advise the Deputy Assignee, and Mr M. J. Enubley for the bankrupt. The creditors present were—W. Priest, D.Munro, J. Storrier, and J. T. Warren. Mr J. Hay appeared for Mr Warren. The following were the filed statements : A. Dr. : Unsecured creditors as per list B, £231. 15s 9d. Secured creditors as per list C, £545 (estimated value of securities £6O0 —surplus to contra £55) ; other liabilities as per list D, £52 10s; total, £S29 2s 9d. Or.: Stock-in-trade, £2O; book debts, £7O, estimated to produce £6O; cash in hand, £2O ; furniture, £2O; property as per list E, £ooo ; total, £720. Deficiency, £lO9 2s 9d. The bankrupt, in a preliminary examination by the Deputy Assignee, stated that he had been in business in Timaru for about 20 years. Was in partnership with James Byers till his death abou. 10J years since. Took over the land, buildings, and machinery at £I7OO. Paid up this amount by instalments toJVIi Byers’ widow, except a mortgage of £750 to Godby’s trustees. (At the time of Mr Byers’ death the mortgage was to Hamilton, this was afterwards transferred to Godby’a trustees). Paid off £IOO of this about six years since. Conveyed the property to the mortgagees about _ a mouth since for the amount owing, £650, and interest due, about £75. They were going to foreclose, and ho considered there was more owing than the property was worth. Did his best to sell it, but there were no offers. Took ill about 4) years ago, and had not been able to do any work since, nor able to avtend to the business, so that it fell off. During the last 10 years had lost £SOO or £550 in bad debts. About the end of last March had to borrow from Donald Muuro, and to secure the same gave him bill of sale over the plant and tools for £245. Part of this—about £7s—was owing for some years. On getting the £l7O paid all pressing claims, about £IOO, and other accounts as per book, the balance, about £2O, handed to the Assignee. Paid Mr Knubley £9 12s for previous work aud coats of filing. Before filing had cash in hand to pay a bill of £l7 odd, due to Mr Warren on 26th April. Mr Warren got judgment on the 25th for a bill of Calvert’s for £52; was then obliged to file Could make no offer. The £l l O was received from Munro, first £7O, and £IOO about a week later. The bankrupt was examined at length, and Mr Storrier moved that the bankrupt be allowed £SO worth of furniture Mr White said that ho would not support any motion to give more than the law allows. If the bankrupt had called a meeting sooner instead of giving the bill of sale he would have been in favor of giving the whole of the furniture. Mrs Ogilvie had no legal claim at all to the furniture. Mr Storrier said the least they could do was to give them £SO worth of furniture. His motion was not seconded. The Deputy Assignee said under the circumstances he must sell the fnrnituie, leaving only what the law allowed. ‘ Tho°meeting then closed. A ipeeting of the creditors of George Edwin Best,the grain expert who levanted from Timaru, was held last Monday.

The Deputy Official Assignee, Mr Montgomery, said the Government would not take any steps to arrest Best unless expenses were guaranteed. Since Best left his sister had received a cheque from Mr Stead for £3O, and returned it. He (the Official Assignee) had applied to Mr Stead for that money, and if it could bo got it would help to bring Best back. Several creditors complained very bitterly of the action of the Government in not taking the matter up. They said that the Government spent hundreds on Jonathan Roberts, who had only stolen a horse worth £ls, and yet would do nothing with regard to Best. After a long discussion it was ultimately resolved to guarantee a sum of £IOO to defray the expense of bringing Best back. It was supposed that he left by the Ruapehu, and would land at Rio de Janeiro, and it was suggested that he should be arrested there.