IN BANKRUPTCY.

Wairarapa Age, Volume XXX, Issue 8472, 25 June 1907, Page 3

IN BANKRUPTCY.

ESTATE OF- W. H. WILTON. The first meeting of creditors in the bankrupt estate of William Henry Wilton, farmer.j of Taratahi, was held in the Masterton Courthouse, yesterday morning, before Mr W. B. Chennells, D.O.A. The creditors present were:—S. Skelly, W. H. Cole, W. H. Franks, and V. L. Fairbrother (representing G. A. Fairbrother, Ltd.) Mr B. J. Dolan appeared for the petitioning creditors, the New Zealand Loan and Mercantile Agency Company, Mr T. E. Maunsell for Messrs G. A. Fairbrother, Ltd., and Mr C. A. Pownall for the bankrupt. The bankrupt's statement showed his liabilities to be £1,316 8s 7d, and his assets nil. The unsecured creditors were the New Zealand Loan and Mercantile Agency Company £741 Is 7d, G. A. Fairbrother, Ltd., £6, W. H. Frames £B, A. Krahagen £6. J. Wilton (Wellington) £SOO, Jas. Stevens £9, .Wairarapa Daily News £5, J. Dudsony£s. S. Skelly £lB, South Wairarapa Stock Department £l3, Bank of New Zealand, Cartefton, £5 7s. Examined by Mr Dolan, bankrupt stated that all his creditors, as per list, were unsecured. He owed his father, Mr J. Wilton, £SOO for money lent. The money had been all lent before 1905, the largest amount at any time being £2OO. Receipts were given for interest due on the amount of the loans. Bankrupt did not give the New Zealand Loan and Mercantile Agency Company a bill of sale, which to be over 500 sheep of mixed ages, to secure the current account with the Company. Instead, he signed a form which had not been properly carried out. He signed a bill of sale, dated April 6th, 1906, over 500 sheep. He owed the New Zealand Loan and Mercantile Agency Company a sum of money on that date. When Messrs Carey and Barkas drove to his farm he signed the document on the understanding that there were only 100 sheep on the Mungatarere farm. That was all the sheep the bankrupt had oh that farm. He was to hand over to the Company 500 sheep in May, 1911. He had no time to read the document through. He had never signed any other bill of sale and did not know that on October 3rd last they seized his sheep. The bankrupt was then rendered an account sales for 81 sheep showing the net proceeds to be £6l 7s 4d. He did not sell anything off the farm from the time he signed the bill of sale to the date the sheep were seized. He did not assist to muster the sheep, nor did he know they were mustered. He had no books or letters. He held 554 acres O.R.P. and 20 acres on the Carterton Bank line, both in his own name. There were mortgages for £l4O to the Advances to Settlers Office, £IOB to the Public Trustee, and £6O to I. Connell. The 20 acres was freehold, and the mortgage was to Dr. Spratt for £4OO and S. Skelly £IOO. The property was worth from £2O to £25 per acre. He had no stock or furniture. His wife * held 220 acres at Taratahi, which she had had for a little over 4 years. She-also owned about 11 acres near the Railway Station, which she had owned for about seventeen years. This was all the land she owned, but she had about 100 sheep, 50 or 60 cattle, four or five horses, and 15 pigs, also a plough, harrows and chain. He was not in a position to make any offer to his creditors. He also stated that he held 236 acres on lease from Mr C. Wyeth, for which he paid £IOB per year. The rent was due about the end of this month. He held six shares in, the Bacon Company. He had no other property of any description. By Mr Maunsell: He had been 23 years in the district, and during that time he had been butchering, dealing and farming. Since he started he had been dealing with the New Zealand JLoan and Mercantile Agency Company. His indebtednebS to the Company was at present £7OO. It had been as high as £I,OOO and he had been in credit at times. He dealt with the Company at the time he gave the bill of sale. There were never 500 sheep on the farm. By Mr Dolan: He had not paid any money to his wife within the last two years. She had lent him money occasionally. By Mr Pownall: He had not been extravagant, and had never lost money except in business. Several of the creditors present excreased themselves in favour of recommending the bankrupt for his discharge. They were satisfied with the circumstances of the case, and did not wish another meeting to be held. It was, however, decided to have the bankrupt's property valued and a report of the valuation laid before a subsequent meeting of creditors. The meeting then adjourned.