MEETING OF CREDITORS

Wairarapa Age, Volume XXXII, Issue 10580, 11 March 1912, Page 5

MEETING OF CREDITORS

ESTATE OF JAMES JOHNSTON. A meeting of creditors in the estate of James Johnston, sawmiller, of Whakerua, was held in the Courthouse at Masterton at noon on Saturday last, the D.O.A. (Mr W. SChennells) presiding. There were about half-aKlozen creditors present. Mr G, H. Onllen appeared for, the bankrupt. . . The statement of the bankrupt showed liabilities amounting to £341 9s Bd, and assets £2BO, -leaving a deficiency of £6O 9s Bd. The bankrupt started sawmilling in November last, with a capital of £25, he having leased a plant belonging to Mr W. J. Berrill. The latter had a contract to cut bush on the property of Mr Bunny The RxmkruDt's capital being so small, he had to obtain credit from the storekeeDers. Some of .the store- j keepers pressed him, and he was compelled to file, notwithstanding that the business was alleged to be payins, '■ The D.O.A. stated that Mr Berrill had mit in a claim for £35 royalty, and had declined to allow the timber to be removed until the royalty was ''"Tlie bankruot. under examination, stated that he had >sold certain timber to Mr Bennett find to Mr Rathbone. He had paid no royalty .to Mr Berrill. Bennett had mid £2l,- but had received onlv £ls worth of timber. _ . Tlie creditors decided 'by resolution that Mr Berrill should be paid royalty on the whole of the timber delivered and upon the ground. It was decided that the timber on tlie ground be *old privately, or by auction, and that the cutting rights be offered for sale. A committee consisting of Messrs Kersha,w, MeLeod, and Brown was set up to arrange these'matters. The meeting adjourned sine die.