Meetings in Bankruptcy.

Wairarapa Daily Times, Volume IX, Issue 2906, 23 May 1888, Page 2

Meetings in Bankruptcy.

A first meeting of creditors in the estate of Mary Ann Polling late Baker and confectioner of Queen-street, Maslerton was held to-day in the Court House. Mr Sellar, Deputy Assignee presided. Mr Bunny appeared for the Official Assignee, aiul Mr Pow.nall for the debtor, and the creditors represented were Messrs A. W. Rsmill, J. Percy, and .Smith and Hogg. The following statement wa.s made. Unsecured creditors, A. W. Kenall LllO, W, Perry L 3 Ids, T. G. Mason L3los, Graham & Co, Li), Petersen Lo, Lowes and loins L7los, F. Pelling sen. LlO, Caslendyke and Focke L 27, Brown Dutton, and Thompson LlO, Wellington Biscuit Company L 7, Thornton La, Wilson L 4, (Jrawl'oul & Co. LIS, J. Percv L2O 10s, Nelson Moate and Co. L 9 18s, A slier L2 2s. Total— L 242 ss. Assets:—Book dtbts L 36 (estimated to produce L2O), furniture L4O. Total- L6O

The debtor having been sworn said in reply to Mr Bunny, that tlio assets accounted for amounted to LGO in the gross or L 35 cet with furniture taken oft', She was in business for four years up 10 23rd March, At that linio she sold out h?r shop, tidings and stock for LBB. and L2O for goodwill. The valuation was made by Lowes and lorns. The amount was made in cash with the exception of L 34, which was retained for rent, L 5 was paid for taxes, LI 9 was paid to Mr Pelling s?nr., and LlO to lier brother for money previously borrowed, Mr Pownnll was paid LI 2, The rest of the money was spent. The chief of t' e debts were incurred within the last two years. Mr Renall said that most of it was incurred immediately before she closed business she had given him' worthless cheques and then got flour from his miller.

Tim debtor continued, the debt of £J 10s to- Lowes and lorns was for n booth that did not pay. The £'23 10s due to Percy was for two cheques that were given to Mr Renal I which there was no money at tho bank for, The business hud been falling off for months, She lind not made any arrangement for goinn into business again. She paid her father-in-la>v and her brother as soon as she got her purchase money, She received two bills for £34 which she handed over to Castendyke and Focke on account of bills that were due. Since her lirst liusbiiiuis death she had paid oil'.£3oo of his liabilities. Her banking account used to ha £25 to £35 weekly but lately it had fallen off to £G or £7 per week, This falling off was not (iuo to the business being neglected. Her rent, rates and taxes Ac made up about £5 per week, The piano belonged to her children and cost £42, This was paid for out of the money received from her first husband's life policy. She came to an arrangement with Bnekeridge for the Fentherston Refreshment rooms. She had been trying to sellout for two months before the sale was effected The busings was conducted by herself, She thought she would be able to start business and pay off everybody. She did not pay Castendyke and Focke with a view to their helping- her future business, She gave Mr Renall the cheques for £27 in the hopes of their being, held over. She bad sent cerfoiu feutui's tq towea

and lorns' but did not know what they realised. She did not 30 for tlio money as she had left the matter in Mr Pownall's hands for the purposo of payirg her creditors. SIIO had not now got £4O worth of furniture; If sold would not now/fetch £2O. She

thought the furniture in that schedule was included. iMio ollered her creditors 5s in the The furniture was not handed over tor the jmrpose of paying off the debt duo to Messrs Lowes and lorns. She removed lo her father-in-law's house certain furniture, when she went to live there. She could not give positively 1 list of goods removed. The business was carried 011 in the name of " Pelling." She had liled separately from her linshand, on the advice of her solicitor, MrPownull. This closed the ixaimnation.

Frank Deering Pulling, examined by Mr Bunny 011 behalf of the Assignee, sworn,said; The debt' to Mr Benall was about £110; he did not know how long it had been owing, He

He could not- say for how long the other debts had been owinj;, He did his share of work in the bake-houso, and helped wiih the books. He took nothing into the business, and brought

•ery little out of it. He knew busiicss was going back, but .thought it

was due to the times, and would pick up again. He gave similar evidence as to the disposal of the proceeds of the of the sale of the business to that given by Mrs Pelling. He paid to Mr Powiidll the sum of £l2, towards paying his creditors 5s in the £, and as it could not bo arranged, they had to file. He iiaid his futner back the money ho had borrowed a fortnight before. Ho paid

Itis brother-in-law because it was

borrowed-money. He hoped to get into business through the help of his father. He went with Mrs Pelling to Featberston to see about a business there, but they could not go on with it as his father took ill. Mr Buimy : Where is the furniture that von have down in your schedule at £4O f The debtor: The most of that furniture was taken to Lowes and lorns'lor sale, and be had not enquired for noi received a statement of what had been sold. Mr lorns had told him about a fortnight ago to come in and get the balance. He estimated the property placed in their hands as being value for £4O. Outside of that, he had sundry articles at his father's house. There were only a few things taken there that they required for use. lie knew nothing about the piano. The piano was up at home, He did not know anything about the cost of it, and it had nothing to do with him." Ue had not attended all tho race meetings hold here. He had not spent any money there. He nii»ht have put 5s on the totalisator. He had not put pounds on it. Had not bet upon auy horses, He had not neglected the business; it had been falling off for twelve months. He reckoned upon getting £2OO for tho stock and goodwill, but it had been sacrificed. Hehadnot made up his mind to deal with anyone in particular in Wellington if they hud succeeded in getting the Featherston business. He was aware that cheques were outstanding to Mr Kenal.l when be paid; Castendyke and Focke £34. His reason for paying that iivm was that they had a bill due, He hoped to be able to pay all his creditors in time. He was paid 30.5 a week before he married, and did not receive wages after. He had no buggy belonging to the business; that belonged to his father. He had a grey pony some four or five months previously, but it went crooked, and died from a wrong dose of medicine. As far as he knew, every asset was included in his statement.

On behalf of the debtors, Mr Pownall said he was 'prepared to offer the creditors os in Use £ cash, provided the assets nre handed over,

Mr Hogg moved, and Mr Percy seconded, That the Assignee be instructed to take the necessary steps to recover all goods, bills, and cash handed over by the debtor within the prescribed period provided by the Act, Carried. It was resolved that the debtors be required to come up for public examination before the District Court, and be examined by n solicitor, at the expense of the estate.