Meeting of Creditors.

Wairarapa Daily Times, Volume IX, Issue 2858, 27 March 1888, Page 3

Meeting of Creditors.

.j A meeting of creditors in the estate of Adorn S, Grant, late sheepfarmer, was held yesterday afternoon in the old Courthouse, Mastcrton, Mr W, Sellnr, Deputy Official Assignee, presided, and there wero present Messrs J. Jorns, H. Falloon, L. J, Hooper, and 0. F. Gawith, The debtor detailed the arrangement by which, in conjunction with his brother John, he had leased from his mother the station at Gladstone, and the stock on it, consisting of 2,800 sheep, 20 head of cattle, and 10 horses. They started with a capital of £IOO, and afterwards purchased I,SOO additional sheep with the proceeds of the station. He subsequently bought his brother out for L3OO, as the place would not support two, giving him security over furniture, grass seed, etc. for the amount, but not over sheep. All debts were paid at that time

. except L2B for rent owing to Mrs Grant sen, The existing liabilities had, jfjF L3O, been incurred since then, nis mother received L 656 of the L 715 which went in rents and general outgoings. His present position was owing to tho bad season, and tli9 lower value of stock, His mother took possession in May, 1887, as her rent was not being paid, Mr Gawith, debtor's solicitor, here explained that it was owing to breach of covenant that the station was seized, the sheep being short of the stipulated nurabor. After several questions on the part of those present, it was resolved, on the motion of Mr Hooper, seconded by Mr McEwen, That the debtor be publicly examined, and if necessary tho - Assignee employ a solicitor for the purpose of prosecuting the debtor if anything ia tound against him.