Meeting in Bankruptcy.

Wairarapa Daily Times, Volume IX, Issue 2907, 25 May 1888, Page 3

Meeting in Bankruptcy.

An examination in bankruptcy of "William Hull, of Pahiatua, wheelwright, took place at tlmt township O'ittiC 23rd instant at 7.50 p.m. The cranta present were Messrs A. Yule, Nesbit and H, 11. Briggs, Mr W. Sellar, Deputy Assignee, conducted tlio examination. The debtor said on' the 2nd November, 1887, a petition was filed adjudicating him a bankrupt. A meeting was held on the Bth inst. The statement "A" produced was signed by him showing indebtedness 134 G. The statement of secured creditors showed indebtedness to MiEdgar £3OO with security £4OO. The signatures to the several schedules including the real estate were his. When lie signed the schedule he did gV.ot wish the property at Tireumea to *»e included, he wished to hold it for Tiis own use. The payments to the Government had been made by him and the property was m his own name. No other person had any interest therein. He was under the impression Government provided for the protection of deferred payment sections against bankruptcy. He consequently considered himself entitled to the When lie signed the declaration lie did not think that section would be included in his assets as the Assignee (Mr 11. Stansfield) said it was only a matter of form. He did not think the declaration was read to him. I!e was still of opinion that the section belonged to him he should still decline to hand over the property, notwithstanding the declaration lie had signed that it was a portion of his assets, A meeting of creditors was held immediately afterwards, In answer to .Mr Briggs, the debtor said the money ho had spent on improving Jftie, deferred sections was his own, ! received from Hull and Horn. He received £250 from Horn on dissolution of partnership. Ho did not spend all of this on improving his section, He thought he had valued his interest in the section at £250. Mrs Hull had handed him over £4OO or ££o for the purpose of erecting a boa wing house. He had expended the whole of that sum, but none of it on his deferred payment section. Several sums owing were incurred in the erection of the boarding house, and for furnishing it. The book debts shown in the assets belonged to the boarding house, The deputy assignee (Mr Stansfield) told him to include his wife's property in his schedule. He had not, nor had Mrs Hull to his knowledge recovered any debts in the estate. Ho would bo prepared to swear that the accounts belonged to himself or Mrs Hull, when called upon. The meeting then closed,