IN BANKRUPTCY.

Wairarapa Age, Volume XXXII, Issue 9695, 20 January 1910, Page 6

IN BANKRUPTCY.

Hugh John Jackson and Frederick Arthur Jackson, farmers, of Miki Miki, have filed a petition in bank- ! ruptcy. The following is their state- j ment. -.—Unsecured creditors, £835 j 3s lid; secured creditors, £471 10s; j total debts, £1,306 13s lid; value of j secured creditors, £471 0s; deficien- i cy, £835 3s lid. Following are the j unsecured creditors:—Masterton, W. j Hugh Jackson £726, James Elliott £5 ys, Wairarapa Daily Times 27b, A. McLeod and Co. 26s 9d, Edward Welch £1 Is, W. B. Cfcennells £2B 10s, Gawith and Logan £lB 0s 2d, J. McEwen £2 10s, New Zealand Government £SO. S. Bunning is the only secured creditor, the amount of his debt being £471 10s. The security is partly the property of H. J. Jackson and partly the property of F. A. Jackson. Their written statement is to the effect that they purchased one thousand acres at Miki Miki for £6 10s per acre about two and a half years ago, and had to pay a high price for the stock. They had as capital about £I,OOO between them to put into the property, and a considerable portion of this consisted of house properties. Their father helped their with cash to the extent of £1,2c0, and also guaranteed their stock ac- ■ count, Thsy.suffered severely trom the drought in 1908, having a big fire over the property by which they lost grass and stock, and in corsequence were unable to carry on. The mortgages were falling due, and they found themselves unable to re-finance, and were constrained to sell the property, which realised £6 per acre. The separate statement of Hugh John Jackson is as follows: —Unsecured creditors, £7 4s; secured creditors, £1,085 10s; estimated value of securities, £1,100; total debts, £7 4s assets, furniture £100; surplus from securities in the hands of creditors, £l4 10s; estimated surplus, £lO7 6s. Following are the unsecured creditors:—Masterton Hospital Trustees £2 4s. John Montgomery £5. There are two secured creditors, Mr Dumbleton with a claim of £6OO against a security valued at £7OO, and the Masterton Building Society with a claim of £250 against a security valued at £4OO. Frederick Arthur Jackson's separate statement is as follows: — Unsecured creditors, nil; secured creditors, £535 10s; estimated value of securities, £500; total debt, £35 10s; assets, nil. The secured creditors are: —Wakelin's Estate Trustees, £300; estimated value of security, £500; F. A. Jackson £235, being half of a guarantee mortgage on a property mortgaged to Wakelin's Trustees.