PECULIAR TRANSACTIONS IN GRAIN.

Wairarapa Daily Times, Volume 5, Issue 1286, 25 January 1883, Page 2

PECULIAR TRANSACTIONS IN GRAIN.

Ikverdaroiu, January 24, A- meeting of creditors of Caleb Froegall, grocer and grain speculator, was held to-day, Bankrupt started in a small business eighteen months .ago,: and has failed for; £3200, 'in addition to which friends had. previously,paid' off £2300. The asserts are.! stated at £1200,. Briliraptwas aubjMted'.to; a dose examination, had been advised iri -. arid money matters by' Btitera&n,' secretary

of the Farmer's Co-operative Seciety, and by reason of glowing accounts had i speculated to the extent: of <£ll,ooo in ship to Melbourne, but made ,losses by' the 1 greater part,, The | Registrar: in Bankruptcy,! - informed the > meeting that .for* what he knew officially the .■ bankrupt should be closely oxamined re his transactions with .Bateman.... This., was done, and it appeared that bankrupt' was guided by Cateman, who advised him to keep twd : bahk"'accbunts. One was opened at the National Bank, and certain persons were guarantors for his overdraft, and it was arranged that the proceeds of the speculations should go to the credit'' of the overdraft Mr Bateman did not hint that by opening a second account he-(bankrupt) would be able to dupe the guarantors; < :In the first case, he bought flour for Bateman and got money from him to pay for 'it. His brother had paid jfilOOO for him, and R. D. Yuile had paid £I3OO on a joint speculation in grain. A motion for searching inquiry into bankruptcy, dealings with Yuile and Bateman was carried unanimously. ' :: ' • '