MEETING OF CREDITORS.

Temuka Leader, Issue 2692, 31 July 1894, Page 2

MEETING OF CREDITORS.

A meeting of the creditors of W. Moore, lately a hotelkeeper and farmer, was held at Timaru on Friday. There was a large attendance.

Mr White, who appeared for the deputy assignee, stated that the facts had been put before him as Crown Prosecutor, and he gave his certificate that there was a case for criminal proceedings, and on that the Deputy Assignee had laid an information and a warrant was issued, this was on the 25th. An indemnity of £6O had been given to the Commissioner of Police by the Bank in case it is necessary to go to the expense of fetching the bankrupt from Australia. So far no trace had been found of his leaving the colony by any steamer. Proofs of debt were pnt in as follows: G. R. Garard, wine merchant, Oamaru, £ls 6s; G. Watts, £51175; J. Hole & Go. £235 12s 9d; J. Rielly, £IOB (secured £4O) .; T. Wells, £22 10s. The Colonial Bank and National M. & A. Co. would not prove at present. The Colonial Bank’s claim was stated at over £3400, against which it holda certain securities. The N.M. & A. Company hold a mortgage for £2500 on a farm of 280 acres near Wai-iti (roughly valued at £l4 per acre), and there is a small open account. The other creditors were mentioned, G. P. Wood being said to be one, and Dunedin brewers were also named. A statement was pnt in by Mr Raymond of the disposal of the valuation paid by T. Burns for the contents of the Empire Hotel; total £IOOS 13a 4d. £2OO was deposited with R. R. Taylor, £305 12s fid was paid to G. P. Wood, small sums made up £l7 Is lid, and a cheque for £48218s lid was paid to Moore. It was stated that the £2OO in Mr Taylor’s hands was almost absorbed by a contra-account. A desultory conversation occupying most of an hour took place, in the course of which a variety of scraps of information were obtained. Mr Wells said that bankrupt to his knowledge paid away about half the £482 cheque the next day afer receiving it—£l2o to him (MrWells), to servants about £IOO, and to a butcher £25. Inquiry was made about 1440 sheep on the farm, and it was stated that these had been taken by Guinness & LeCren under bill of sale, and that there was no margin in that property. The Timaru Building Society, it was stated, have a first mortgage for £2BOO on the Empire Hotel, and the N.M. & Co. a first mortgage over the farm, Smithson & Raymond, second mortgages over the hotel and farm, for £BOO and accrued interest, and the bank have a third mortgage over the hotel. Mr Raymond said if the farm sold well it would pay both mortgages nearly, so that his firm would not need to draw much if anything from the hotel. Mr White remarking that there ought to be some books debts in such a business, Mr Wells said he never saw a book about the place. Moore may have kept some books but he never saw one. It was also decided to enquire into tho ownership of a buggy, horse and harness claimed by J. Costigan. Mr Macintosh, of the Colonial Bank, explained that he demanded some further security, and a guarantee of £IOOO by Mr Quinn, or a bill of sale over 1400 sheep ou the farm were mentioned. He insisted upon having one or the other or both, or he would make him bankrupt. Moore undertook to comply, and drove him out and showed him tho two lots of sheep, gave him an agreement to give a bill of sale over them, and also undertook to get tho guarantee. He said he was going to Muhikihi toget the guarantee when he went away. It turned out that one lot os sheep shown him belonged to Grant and McPherson, and were only gracing ou the farm, the other lot belonged to Guinness & LeCren under bill ** *udd (unregistered.) He thought , tor levanting was his Moore’s reason - « (Macintosh’s) threat to jnane u.m give a bill of sale over the sheep. Several attempts wore made to tot up how much money the bankrupt 9<mW have taken away with him. The average vrpejfly bankings had been £4O or £SO | Mr Hplq and Watts said the takings must have been £OO to £7O. Mr Hay aai4 that after tho cheque for the furniture wm received and half paid away as described by Mr Wells, Moore offered to pay £SOO into the bank ou certain term*. Ml Etylh

thought he must be stowing away money, as he and other tradesmen had had none lor a good while. He had received large sums on mortgages and was otherwise largely in debt—what could he have done with it all ? After some further discussion the meeting adjourned until Friday evening.