Meeting of Creditors.

Wairarapa Daily Times, Volume X, Issue 3136, 22 February 1889, Page 2

Meeting of Creditors.

(From Our Own Correspondent;)

. ■ An adjourned meeting of creditors in the estate of Edwm King, butoher, of Oarterton,.was held m the Courtroom, Carterton, oil Thursday.' Mr W. Sellar, deputy assignee, presided, and MrA. B. Bunny appeared for the Assignee, Mr Skipper, on behalf of.certain creditors, and Mr- Board for the bankrupt, - The bankrupt, having been duly i sworn, said tho statement of accounts was made up in .the ledger. • He thought ' tlie amount, according to the . ledger, was about £450. He had sole control of the books, and lie showed the accounts'to his partner, Mr R. Buckoridge, on the dissolution of partnership. He beiieved Wilton was put down for about £IOB.. Geo. King's name was not included in the list. Tlipre was £2O owing to Wilton for wages. , Wilton took over tho shop from his (King's) father about the 14th January, and lie bought tho stock from E. Hooker in December. His buying the stock, however, did not clear his wages. It was after Wilton had bought the stock that he (King) made up the list. . The stock was not given in payment for wages; To Mr Bunny: The £IOB was not actually due to Wilton, unless the Grm actually re-pUrchased the stock from him. • What was really due to Wilton was £l4 for monies lent, and £2O for. wages. Did not ask E. Buckeridge about a bill to Harris. Did'not lead them to believe that he was able to pay 40s in the £. at- the time he endorsed the bill. The money due to his father was for money lent. Didnot know how much he owed him, until he had asked his father, when he was about posting up his hooks. Did not exactly know the amount when he took Buokeridge as'a partner. . To Mr Board: Had borrowed the monoyfrom his father at different times. The amount paid to Hooker, for the stock was about £74. Did not pay any of the amount, nor did any of his friends on his behalf. Wilton had promised to re-sell the stock to him if he could find the money. The banking' account was in his name only. • Witness and Buokeridge were in partnership about twenty-two r months. Buckeridge never- made any, complaint about it. The promissory notes were principally signed' by himself. . At this stage some altercations ensued between the counsels as to the way the solicitor for the bankrupt was putting questions to the bankrupt, when the Assignee supported the objection on the ruling of Mr . Justice Richmond,. Mr Beard was given to understand by the Assignee that he was not to ask the bankrupt any questions, and the examination of the bankrupt proceeded, To Mr Bunny;: Wilton did not hand any money, to Hooker on 1 account of- the stock. Mr, Hooker advanced him (ling) money to meet a bill which was due about the 7th January last. There was £l7 10s .due to Wilton for wages up to the end of December last. Wilton never rendered any account to the firm till after'the bankruptcy. Had,not paid anyone x any money since he became bankrupt, but had paid P, 0. Petersen £2los for two pigs about.the Ist February. DiLnot -remember telling'him at the time he intended to go through the Court. Owed J. Thompson £2, which he paid to H. Rayner on an order from Thompson sometime in January. J. Hannah was a creditor, but his claims had been settled by contra account. There was an account £2los which he believed Wilton bad-paid, but he did not think it had anything to do with the £8 8s 4d which ho had proyeil his claim for. Did not know -that .he had any banking account now. Thought tho last account he drew from the bank was £2l9s lid. Was still working at the butchering but the business belonged to Wilton. The book did not show the amount owing to his father.

The bankrupt was further examined by Mr Skipper, on bebalf of tbe creditors; To Mr Bunny: Almost all tbo monies received in connection with the business we banked. i Geo. King, being duly sworn, deposed that be was tbe father of the bankrupt (A. King), and the amount, of his olaim on the estate was for bills which he had paid on account of,the late firm of King and Buckeridge, (papers showing the amount were produced), It was not a gift. He did not get any-acknowledgewent for the amounts paid. He has never re-paid any of the sums advanced to him. He had known for swno time past : that the affairs of the firm wero not in a satisfactory state. Ho had not held a bailment over tbe property, but lie was a trustee for Mrs Ingley but on account, of a severe illness last Mtfy, lie gave up the trusteeship, He believed the bankrupt was indebted to Mrs Ingley and also to Mrlngley. When he gave up the the trusteeship he gave the notice 'to her husband. Did not remember aigning any document resigning his interest in the same. Did not know whether Mrs Iriglej had,been paid £IOO as bailee over the property. He did not hold a bill of sale over tlie property,: Had no other documents but what! he had handed, over to the Assignee. The, place where the business was carried on was his property.' His son was to pay 10s a week rent, but lib did not keep the rent paid regularly. ■ - • ■ To Mr Beard : Had only proved for the actual - amount advanced; without interest. / When the stook was made over to Mrs Ingley the was about £IOO. •'

; W. B. "Wilton being • Bworn deposed;—l am a butcher carrying on business in Carterton since the 14th January, 1889, in the -premises belonging to Mr George King, at a rental.of 10s per week. He Was in the employ of the late firm of King and- Buckeridge■,at a salary of 25s per week. Some £2O was-owin'g to him by them. Bought the ©fleets from Miv Hooker including a bailment for £74 8a sd, -King has been wort ing for mesince. Have four horses, Ijarts, £c. Was not to liave had the festato of King & Co. Met thp bill to Hooker. Bought subject to tlwt.

The bailment was dated*>2Bfd .No-. '■ jJ-.il vembor,*lßßG, 1 s 1; X r^ll Richard Buckeridge was in partnership with Edwin King i since Ist Maroh arranged the {- find meat to stook the shop at 16s per owt, and lambs'2s od, £ Ingley 1 ," 1 | said he would sell King out' if could not get a partner! Tlie business " {/J had paid well All accounts were i ' f ltopt by King. There was no bank* \ mg account for the firm Aboutlhe <•^' end'of last year King said they had " \\\ bettenvind up. Di£uot know any- -v jjj thing was owing b'gthe firm. No t'j dissolution had yet b£i made. Was ' I not ftwaro of the saleT»om Hooker to ft Wilton Did not beheVe that the

bankrupt's father had; advanced^thoi: money as stated by the bankrupt, the , I property which he seized he held for • - the . Official Assignee. Made .no J enquiry about:the ..floß:<ffhi6h..h6-;. : saw in the books as Owing to Wilton because he ■ considered it a dr—— d, <• > swindle. Left management of all k f! money matters to King, whicfyhe. j I transacted in his own nameonbjMf, ,i -,. of the firm. _ _ After some further questioning'the enquiry closed. " , j