Meeting of Creditors.

Thames Star, Volume XII, Issue 3845, 26 April 1881, Page 2

Meeting of Creditors.

A meeting of the creditors of Patrick Callao, medical practitioner was held at the Court House this morning, It was proposed and seconded that Mr Eolleston take the chair. Mr Eolleston refused to act. It was then proposed that Mr Eenshaw should act as Chairman, and Mr Eenshaw accordingly took the chair. Mr Brassey appeared for Dr Callan. The Clerk of the Court said that since the inventory of the debtor's goods had been made, a case of instruments had been added. Mr Eenshaw then read the list of liabilities, which showed £397, with assets £90. Of the £397 owing, £137 was secured by three bills of sale over the furniture. Mr Eenshaw said that his amount had been placed on the list as being £10, but it should have been £20. On being asked, Dr Callan said the saleable value of his furniture was £50, and his book debts amounted to £40. Mr Eenshaw asked if Dr Callan meant that the furniture would sell for £50 more than was secured on it by bills of sale. Dr Callan said the saleable value of the furniture was £50. Mr Eenshaw pointed out that it was valued at a low price, whereas there was an amount of £137 secured on it. Dr Kilgour said , his amount was £19, for rent, and he was a secured creditor. Mr Eenshaw : Then that makes £156 secured. Mr Wilson said that it was on the strength of Dr Callan's expectations that the amounts had been allowed to run on. He thought the expectations should be set forth as an asset, even though they afterwards turned out to be but a shadow. Dr Callan said that the expectations spoken of were £1000, which had been invested in railway shares and three per cents, at Home. His agent had died, and had not remitted the money, his affairs bein^in-a"ffiuddle,"and~tie~ (Df ~Callany was afraid the money was gone to the dogs. He had written home sending a power of attorney to dispose of the shares but had hot received an answer yet.

Mr Wilson wanted to know' who was the solicitor who had framed the power of attorney ? Dr Callan said his brother-in-law had sent him a form, which he had filled up and returned to him.

At this juncture the conversation lapsed, and iVTr Wilson was appointed trustee of the estate.

The meeting then terminated