MEETINGS OF CREDITORS.

Wairarapa Daily Times, Volume VIII, Issue 2369, 10 August 1886, Page 2

MEETINGS OF CREDITORS.

H. Cook. A first meeting of creditors in the estate of H. Cook, of leatherston, was held in the old Court-room yesterday, Mr R. S. StaMeld, Deputy Official Aasignoe, presiding. No creditors attending, the meeting was adjourned till to-day. The liabilities were stated to amount to £lOl 3s Bd, and the assets, consisting of furniture, to £2O. .-, Duncan & Sons. A first meeting of creditors in the estate of Duncan & Sons of Masterton, storekeepers, was held yesterday before Mr ft S. Stansfield, Deputy - Official Assignee. Mr Bunny appeared for the Official Assignee, and Mr W. G. Beard on behalf of .the, debtors. The creditors present .were—Chamberlain' Bros,; Mr i

Caaelbem (as proxy for '•'Turnbull &Col and: N. J. Nathan & Co.), MrTabuteau (for E, W. Mills & Co). Mr Hooper, was present, but had not proved his claim. The liabilities amounted to £1458 6s 10d, anl the assets (stock-in-trade, book-debts, : dwelling) £2250, showing a credit over and liabilities of £57113s 2d. The-following is a list of unsecured creditors:—E. W.Mills & Co. L 127 0a Id, VV. &G. Turnbull & Co. L 430 2s 2d, Hildreth & Sons L 14125, Chamberlain Bros. LI2G 8s Bd, W. G. Jackson LSO, E, 0. Smith LIB Os sd, James Watt L4014s 7d, Castendyke & Co. L6813s 7d, United Importers 00. L 125 ss4d,Myerhold&Co. L3oos 3d, Laery & CampbollL22 17b lid, T. K. Macdonald & Co, L 27105, Bißcuit and Confectioners' Co. L 4 17b 6d, W. Lowes L 34, L. J. Hooper and Co. L 8 11b 6d, A. Yates (Auckland) L 7 18s lOd, W. Falconer L2l2s, W. H. Levin and Co, L 310125, W. J. Nathan and Co. Lll 10s. W. H. Levin and Co. secured L2OO.

George Duncan, junior, was. examined as to the value of the Btock and hook debts.

Edward Duncan, sworn, said the Matahiwi farm, belonging to his father. wa« sold recently to Mr Welch for £2206. There were two mortgages of £1095 and £516 principal and interest which left £489. The balance, less a few pounds, has been transferred to the firms banking account, except a few incidental expeuses. A sum of £56 was'paid to meet Levin & Co.'s dishonored promissory note last month and they did not anticipate any difficulty in carrying on. One of the firm went to Wellington and interviewed the morohants with a view to renewing the bills for August and on their recommendation they suspended payments. The Bill for Levin and Co., foil due on July 4th. Another payment was made to Hildreth and Sons on an overdue promissory 'note note for-£sl;- At the same time they paid Turnbull and Co the sum of £l5O or thereabouts. These Bums were paid through the bank, The last was a promissory note which became due July 4th, The bills were overdue, and as soon as the money was paid to his father, the bills were paid off, They started business on March 10th, 1885. The list of bookdebts was estimated torealize within '£soo. At the time he went to' Wellington they had no idea of filing, but did so on the advice of two of the principal creditors, Messrs Levin & Co. and Turnbull & Co. Mr Bunny stated tlio Official Assignee had put a man in charge and was continuing the business for cash only, and he asked what-stops the creditors would take in the matter; £ls had been taken in cash.

Mr Casolberg suggested that the estate be wound up as speedily as possible, so that a dividend might be declared. He moved that the biisineßsbe carried on as upunl on behalf- of tho creditors, and tenders be called for the stock-in-trade and business as a going concern. Mr Tabuteau seconded the motion.

Mr Caselberg said alter the statement made tu the creditors it was patent to ' everyone concerned that the present position of the debtors was a Bheer misfortune on their part, and on behalf of those he represented ho should support their being dealt very leniently with. He suggested that if the Official Assignee required assistance in carrying on the business, he might give the Duncans' employment, if conducive to the interests of the estate, until it was wound up. The meeting then adjourned. W. Bishop, A meeting of creditors in the estate of W. Bishop of Carterton late hotel-keeper was held yesterday afternoon before Mr R, S, Stansfield, Deputy Official Assignee. Mr Bunny appeared for the Official Assignee, Mr Beard for the debtor. Nine creditors were present. The statement showed liabilities L 695 12s Id, and asßets LIOO. The latter consisted of book debts.

The principal creditors were, D. Booth, L 358 7s Id; A. McKenzie, L3(i lis s'd; G. Strike, £2l; -Rudd, L4O; Lane and Co., L 8 15s 6d; C. Cheymol, LSO; Jeffrey, £6O; D. Sullivan, L94s3d; F. Polling, L 22 ; Preston, L 9.

' Mr Board said when Mr Bishop came up to Carterton he was heavily handicapped by old debts, and he had struggled hard to pay them off, He had, however, been so pushed by the old creditors as to compel him to take the present steps,' Mr Bishop, sworn, said the statement produced was a correct one, He had boen in Carterton carrying on the business of a publican for about two .years, He parted with the business at the White Hart Hotel on the 27 th July to Mrs E, Buckeridge. The terms were £3OO, and the money had been paid on that date. Out of this money he paid Mr Buckeridge £llß 6s 6d, for goodß supplied by him, It mib deducted from the, amount. To W, Booth he paid L3O at the same time for money borrowed to pay his license fee. For rent he paid L2618s 2d. For commission he paid Mr Wolfcers L 7 10s. groom's wages £2O 17s 3d, billiard marker's wages £lB los, Housemaids £5 Bs, barmaid £4 2s, filing; £6 board and lodging, Ac, £ls. To his wife he paid wages for 13 weeks at £2 per week, £26 and to his son ho paid £l3, being £1 per week as waiter. All these payments were made between the 27th of July and AugUßttth. He waß paying a rental of £26,19s 2d per month for the hotel, Lyceum and stables to Mr Booth, Ho bought the furniture of the hotel, subject to the Bill of sale that was'over it, for £350, and sold out on (ho same terms. He had not done a very lucrative business. He had paid £239 since he had been in the hotel off old debts. The book debts represented on the. books L 260 and he valued them at LIOO. He did uot keep proper books of accounts. He had been paying, by monthly instalments, his old creditor since he had contracted the new liabilities. He would have had 28 days imprisonment if he had' not filed.

Mr Board proceeded to ask the debtor certain questions, when Mr Bunny objected. Mr Beard, however, insisted on his rfcht, In answer to Mr Beard, witness said he only received about £lO6 from Mr Buckeridgo in cash. The £3O paid to Mr Booth was a rofund of the. amount Mr Booth had paid for the license. The rest of the money was deducted.

Cross-examined by Mr Bunny, witness I said he would not like to Bay that he had '. regularly paid his wife wages, or his son £1 per week, He was expected to do so. Mr Buckeridge doduoted the money owing by'witness before he paid tho money over. In answer to a creditor witness said he had endorsed the billß of Mr Waterhouse who had the house before him, and he had been paying off those bills ever since. Mr Deller proposed and Mr Catt seconded,- that the Official Assignee collect the bonk debts as early as possible, and. close the estate. Carried, The meetine then adjourned.