DISTRICT COURT.

Wairarapa Daily Times, Volume IX, Issue 2637, 1 July 1887, Page 2

DISTRICT COURT.

MASTERTON.-WEDNESDAY, Before His Honor Judge Davt, The following business was transacted yesterday after we went to press:— 'APPLICATION FOR TRANSFER. . Official Assignee r. Phcebe Marinda Budden. Application for the transfer ,of certain lands in the Mangaon alleged to have been made over by Benjamin Budden, bankrupt, within three years of the time of filjng'his

Bohedaie,'with a view of defeating tbe Official assignee and; the creditorim ""; the bankrupt estate. '■". to Mr Bunny appeared for the Assign W and Mr Beard for Mrs Buddeii,' ; „ : Mr Bunny,.in opening the casl^ ; dwelt upon the proceedings ef the meetinga of creditors in which an effort was made * bankrupts solicitor %o effect a ''composition of 10s In the i. He referred to' the.circumstances at>, tendjngthe transfer of the property, and.the siibsequent.spending of money uponit'by the 'bankrupt, which vfes included among the -\ty of, creditors' in the.estate, asked -His Honorto .make an order on. behaCpf the creditorswho had up tothe present reoeived nothing from the. estate,-tail were not •likely ;\to>.obtain any thing "unless the property!was dealt with "for them. A . Robert .Stansfield, ,-Devjiy Assignee, .proved the'b»mrptoy ofnj Benjamin Budden whiohJTvas as folA' lows £l4B,vdoficieucy, Debtshad been prOved;to the.extent of £309195. He estimated that the amount 'of realised property-was £36 whioh ho, had only received £6 yff The stock in trade,;'a reaping machine ' put down at £lB was : only valued at £2, at which price it had beon sold. The book debts put-down at £lO were expected to realise £5. : The furniture valued at£2o,was hands of the bankrupt according to the 'Act He read a statement made by.the bankrupt at a meeting of creditors, and stated the steps.that had been' taken to .realise upon the estate. '• Benjamin Budden r pn Oath said that he had lived onHhfl .place, made over to' his wife since Ootober last. He did not get his. living off the, property but did contracts and carting work;. Did not know that.tVilliams and, Beei] tham owed him.£6.9a.at Itha time onj filing and did not-know that that* amount had been paid.to Mr He owed Mr. .Girdwood £2lO at tho time of filing, £IO.B was secured, as mentioned iu the schedule, the balance within £ls had been paid.to, Girdwood since then by stock and plant he then had. Did not. owe-the bulk of tho debts in the schedule at the time of filing. Including:..Girdwood's claim, and a Bill of sale of £IOO to Mr A.R. Bunny, hie total indebtedrtjft was £586 8s 5d at.the time of filwfv The property that, was seoured under Mr Bunny's bill of- sale was valued at between £2.00 and £3OO, The bulk ot that property had since been sold to Mr Girdwoodior /& 30. There were horses, cows, a plough, a dray, brako, and harness sold to-Mr Girdwood which were allowed to .remain under a bailment to Bankrupt; ;;In September some of the remaining plant were sold by auction. At the time of the transfer* he had 840 bushela-of wheat and 5801 bushels of oats.'V About 300 bushelßi of oats were sold at 2s 6d per bushel Of the wheat mostpt it was ground into flour,, and four tons were sold" to Caselborg- &', Co., and 1 ton to J, Graham & Co, . He owed accounts at both stores to more than the amount of the flour. He had : a stack of hay worth £2B, of which he sold about £lB worth. He had two stacks of straw, one.£ which was burned and the otW the top shifted and the wet and cattle got into it) and destroyed it. He had a lot of pigs,poultry,linseed, peas, and a general collection-of farm tools, Before disposing of these things and transferring: the property to bis wife had not •beeri pressed >by his creditors. All debts owing at the time of transferring the property had ! since been paid within about £BO. Mr F. H, Wood's claim of £42 was for sheep bought at auction, some of which'died before they could be got out'of'the sale yards, The balance were'sold by auction by .Messrs Lowes and lorns about two months afterwards. Had not got heavier , in debt since • the transfer.. Considered that • a freehold of the same description as the property be 1 transferred could be purchased for less than £3OO.- A few creditors were pressing' hiih about the time of the transfer. '■'

In cross'examination by Mr Beard it was elicited- June, 188JL the bankrupt 1 made an application's the Land Board to have the property transferred to his wife, which was acceded'to in; the following October. That his uncle, George Bndden, in Wellington, lad made an offer of 10s in the" £ "on. his behalf, he also guaranteeing;'to pay all expenses in connection with the bankruptcy.

;;% Answer,' to his Honor he said that when he came into the district Bix years ago'he had L35(Mn cash, The explanation given to the Land Board was that he wishod the property transferred' to his wife for nionoy advanced by her. By Mr Bunny:—Could not say how much-his wife had when he married,. Did not marry for money, His object' was to make a home for his wife and'family in case of anything happening' to himself through accident. It was not dona to "do" hia creditors..:'He had no idea of filing at the time.' t ; Most of the debts now owing were incurred for improvements on the property in his wife's name^ Joseph lorns, of the firm of lijp and lo'rns; % valuator, deposed that'he had valued the property referred, to, and estimated Mrs Budden's interest in it would be worth about L3OO. Coneidered Mr Budden's interest in Te Ore Ore to be worth between L2O and li3o whenVhe left it.- Had repeatedly done business with Mr Budden both. in selling and buying stock and pro. dace.

Mr Beard addressed (he Court at some length, contending (hat sufficient evidence had not been brought forth to warrant the application being ao . oeededtoi The Court then adkurned. ' ' DisomslU'i, ,_\ Orders of disohargiKvere granted to.. the following—John McKenzie, Wil- ■ liam Deadihan, Neil Easmussen. . Josephlngley, James Burke, Herbert. ■• Masted, and Hugh MoMaster, , Mrßunny.onbehalfofMr Sellar,./; ~ applied to be released from the duties.:.: as Deputy Official Assignee, the several e estates 'enumerated in the petifefok ,• having been duly audited by SS& Auditor-General. The Clerk of thW Court was instructed to deal with, the i: application on Friday, July 16th at 1.0 : . 6'olooka.in. ■'' Friday. • Badd«»w«. ■

was still under oross-examination (qg Mr Beard when wo went to press, ', J Left Silting.) ■