PUBLIC EXAMINATION OF A BANKRUPT.

Wairarapa Age, Volume XXXI, Issue 3056, 28 November 1908, Page 3

PUBLIC EXAMINATION OF A BANKRUPT.

-DANIEL McFARLANE BEFORE THE DISTRICT COURT. At the sitting of the VVairarapa District Court at Manterton yesterday, Daniel McFarlane, tobacconist and billiard saloon proprietor, who filed his schedule in bankruptcy in .September, was publicly examined. Bankrupt was not repreuented by counsel, Mr A. R. Bunny conducting the examination for the Deputy Official Assignee (Mr W. B. Chennells). Daniel McFarlane, sworn, said he filed on September Bth. He furnished the Official Assignee with as latest of assets and liabilities as produced; also the written statement produced, assigning his reasons for filing. The first meeting of creditors was held on September 15lh, at which witness made a statement to the Assignee. Witness bought the businesss in March last from his father, when witness only had a property in South Road, which was purchased for £425 from Mr D. Lett, on which a deposit of £25 was paid and monthly instalments as r quired. If the whole amount due on the property were now paid there would be not more than £4OO in it at the present price of property. Witness borrowed £2OO from Mr Gawith, and gave a security for the same over the . stock and other property, except the South Road property. Witness then paid his father the £2OO by promissory note. Witness was only in business about six months, and had told the Assignee that at first the business brought in about £l2 or £l3 per week, and later returns had dropped to about half that amount. Between March and May witness obtained from Hayman and Co. goods to the •value of £135 17s lid, out of that amount £6l 10s had been paid, leaving £74 7s lid due. In June and July Hayman and Co. pressed witness for the account, and witness wrote offering to make terms. In July witness obtained goods valued at £52 from Sargood, Son and Ewen, the latter making a few inquiries regarding witness s position, which he answered satisfactorily. In May witness opened an account with Levin an Co., paying cash for a lot of goods. On June 23rd, goods to the amount of £ls 15s 4d 'Were purchased on credit from Levin & Co., when nothing was owing to the latter. Witness could not remember if a limit to his credit was mentioned then, but he told the manager, (Summerell) the amount would not be large and he would pay bis account monthly if possible to obL tain the discount. In July goods ' were again got ou credit amounting to £ls 16s 4d, from the same firm, the amount of £29 19s 9d being owing at date of bankruptcy. In June accounts were still owing to ' Sargoud, Son and Ewen. On July 24th goods to the extent of £9 2s 2d were obtained from Warnork and Adkin by witness's wife. This showed that* between March 2nd and j September Bth debts to the amount of £lßl were contracted by witness ] to unsecured creoitors. The books produced were the only ones witness kept, and from them it would be impossible to ascertain the full receipts and payment. The boobs pro- > duced was in witness's handwriting, ; and showed the cash takings from ;March to September 12th. The entries in it were not made from day to day, but were made up after witness filed, from memory. Witness had a • small book from which he compiled the entries, but could not produce it. His Honor: Then this is mainly a work of imagination? Witness: Yes, your Honor. His Honor: Well, you mayßhave . been foclish to do this, but you are -wise to tell the".truth about t r.ow. Wititess further examined said he • did not keep a bank book. The examination then concluded. The Deputy Official Assignee in* 'tends to place the depositions in the examination before the Crown Prose•cutor.