MEETING OF THE CREDITORS OF J. AND C. FLEETWOOD.

Wanganui Chronicle, Volume XXII, Issue 91120, 21 May 1880, Page 2

MEETING OF THE CREDITORS OF J. AND C. FLEETWOOD.

* An adjourned meeting of the creditors of tho Messrs Meetwood was held yesterday, in the Courthouse, at 2.30 o'clock. Present— Messrs J. P. Watt fchairman), F. ft. Jackson, W. 11. Watt, S. ■ IT. Drcnr, John Thompson (Bank of . Australasia), James Laird, J. Bridge, i William York (York and Cornfoot), 11. . Hurley, and W. McLeod. The Chairman read the newspaper • notice convening the meeting and cx- : plaining its purpose. Mr C. H, Borlaso, solicitor for the L debtors, then explained the nature of i the dped of arrangement. Ho said that I everything belonging to the debtors was ) assigned to Messrs F. E. Jackson and ' W. H. Watt for the benefit of the credii tors, with the exception of furniture to the value of £100 in tho ease oE Mr I J. Floetwood, and ,£SO in the case of ! Mr C. Meetwood. This statement was I endorsed by the Chairman, who said that as tho deed was a long one it was _ undesirable to waste time in reading its ; contents. The meeting agreed with r. this view, and the voting was then pror eeeded with as if the deed had been ' read. [ It was moved by Mr James Laird, and seconded by Mr James Bridge, \ That the deed of arrangement as filed by Messrs J. and C. Fleetwood be ; assented to. Carried unanimously by . botli the general and separate creditors. Mr John Fleetwood then made the following proposal on behalf of the firm : — Tliat 20s in the £ should be paid by ; bills of three, six, nine, and twelve . months, without interest, endorsed by Messrs W. H. Watt aud Henry Churton. It was moved by Mr Laird, and 1 seconded by Mr McLeod, That it be an instruction to the Trustees that they accept Blessrs Fleetwoods' proposal. Mr W. IT. Watt stated his willingness to accept this resposibility, and that Mr Churton had also agreed. He thought thero was every probability of the estate yielding 20s in tho £, and that too within six months, in which case he would be happy to pay all claims at that date. The longer term was asked for in order that any un^ foraeen contingency might not leave the endorsers any undue risk. The resolution directing the trustees to accept the debtors' proposals, was carried without a dissentient voice, and tho meeting closed.