MEETING OF CREDITORS.

Wairarapa Age, Volume XXXI, Issue 9087, 12 May 1908, Page 5

MEETING OF CREDITORS.

ESTATE OF JAMES W. HALLETT. The first meeting of creditors in the bankrupt estate of J. W. Hallett, painter, "was held in the Courthouse, Masterton, yesterday afternoon, before the Deputy Official Assignee (Mr W. B. Ciiennells). Bankrupt was represented by Mr C. A. Pownall, Mr B. J. Dolan ap pearing for the Deputy Assignee. The only creditors present were Messrs R. J. Lyttle and W.F.ua. (Mr J. Caselberg). Bankrupt submitted a written statement setting out that he started business in Masterton twelve mopths ago as a painter with practi-ally no capital, with the exception cf a few pounds wages which hj? h?,d earned previous to starting 011 his CWK account. Business was not very brisk at first, but improved later on, ar»-| he was able to pay off most of 1 is liabilities. Last October ho commerced working for Mr Wat-'rhoupe, of Martinborough on contiact woik, and did fairly well for a lime; but ultimately found himself unable to pay the merchants from whera he hail purchased mateiial, and so was hampered and prevented from continuing and completing work on hand, being unable to obtain the necessary material and pay labour to carry out same. It was about last Christmas that bankrupt found himself losing ground financially. Bankrupt on oath certified to the correctness of his filed statement, with two slight exceptions. He started business with £7 or £8 capital. He was married and had one child. The only property held by his wife was the furniture in the house. Books were kept showing the money paid away. All bankrupt's wages men were paid. Commenced to deal with Mr C. E. Daniell from the start. The contract work was found to be unprofitable. Nothing was purchased from the W.F.C.A. this year. Had every reasoh to believe he could pay his debts when he incurred them. Had a sub-contract from Waterhouse, in Martinbprough. Had four contracts in Martinborough, and about twelve or fourteen in this district. Mr Waterhouse now owed nothing on account, having backed several bills for witness, and also paid freight on witness' account. An account to Pain and Kershaw, of Martinborough, was settled a month ago by a bill drawn b> Waterhouse unknown to bankrupt. Witness said he was sued by certain creditors, but not by the W.F.C.A. nor C. E. Daniell. Various sub-contracts made with Waterhouse were for £l2O, £7B, £74 and £2B 10s.

Cross-examined, bankrupt said he had made an otter of £2 per week off his account to C. E. Daniell, which was not accepted. A similar offer to the W.F.C.A. was contemplated, but it was not made owing to C. E. Daniell's refusal. Witness had not been in the habit of frequenting racecourses and gambling heavily, but had been to perhaps one meeting in six months. Bankrupt attributed his bankruptcy to failure of Waterhouse to pay the contract money as it fell due. A discussion ensued as to whether a bill given by Waterhouse to Pain and Kershaw to pay bankrupt's debts was a preferential payment or not, Mr Dolan contending that it'toas. The Deputy Official Assignee said the point was worth looking into, and if possible the money (about £33 paid within the period specified in the Act) should be recovered for distribution among the whole of the creditors. Bankrupt said he had no offer to malce, except that he would endeavour to pay off what he could. The Deputy Official Assiirnee suggested that bankrupt should pay in something to him from time to time, to hold on behalf of the creditors, to show that bankrupt was anxious to shoulder some of the liabilities. This was agreed to as the best course to adopt, and the meeting adjourned sine die.