MEETING OF CREDITORS.

Wairarapa Daily Times, Volume XII, Issue 3875, 1 August 1891, Page 2

MEETING OF CREDITORS.

~'; Estate of R. A. .Butcher. .Thefirst meeting of creditors in the estate of Richard Anyon Butcher, of Featherston, journalist, was. held in che Court room, Featherston, yesterday. The majority of those interested were either present or represented. The Deputy Official Assignee, Mr W. B. Ohennells, who presided, stated that the liabilities were' £931, and the assets, security for £SO (in the hands of Mr Jellicoe), book debts, £25, and furniture £ls, making a total of £9O. There was also a certain , property bequeathed by a late uncle, of which the debtor stated he was unable to estimate the ■ value. He (the Assignee) understood that' Mr W. G. Tustin, of t Wellington, knew something of the case, and had come up with the intention of asking certain questions, and it would perhaps save time if he proceeded with those I questions. | Mr Butcher having been sworri was asked by Mr Tastin if he could give any idea of the value of the property left him. Mr Batcher replied in the negitive. ! Mr Tustin :; Does it not seem ! peculiar that you should, have incurred I such liabilities without any knowledge of the amount coming to you ? '•Mr Butcher : I cabled Home making enquiries, and the reply was that ,it was. impossible to tell until the estate was realized. I have really no idea. Some of the property has been put up to auction I. understand, but do not know what it fttched. I have beensbont six years incurring the liabilities.

Mr Tnstin : When. did • you first know that money had been left you? : Mr Butcher : About two years ago. Mr Tnstin: Then some of the debts were incurred previously ? Mr Butcher: Yes. About £IOO. I do not think I owed more at the time. About £7OO has been incurred since. Mr Tustin: Mostly borrowed money. Where has it all gone, Mr Butcher? ' Mr Bucher: The libel case cost me about £BOO, .I have also been:out of employment for two years. I have tried to get employment, but have been unsuccessful. The late election also cost me a lot of money. Mr Tustin :' Do you think it fair to your creditors to spend money on an election? .;. , i,., Mr Butcher: Yes. It was aspeculation. tf my titan had got. in X- feel sure he would have done something for me. I have reason to think that the properly will be realized immediately and distributed prixrfUa amongst those entitled to share. Mr Tnstin: One more question. Among the accounts are several claims for bills endorsed by you. Did you receive all the money, or were you simply flying "kites" to share with Donald? Mr Butcher : I received, the whole of the money except on one occasion, when I owed him a certain sum. In answer to the Assignee Mr Butcher said he could not produce any letters in relation to the property, as they Were all in the hands of bis lawyers. He had received one letter to say that the money was left, and another atatiug that it was impossible to estimate the amount. Mr Tustin here' remarked that it seemed altogether.; incomprehensible. The amount might be £IO,OOO, and it might be £lO. Mr Butcher, continuing, said the first step he took was to cable home for £IOO. He received no reply by cable, but in due coarse got a letter from Mr T. Morris, solicitor, . of Chorley, Lancashire, informing him that no part of any share would be remitted until the estate was realized. By repute he knew his deceased aunt to be wealthy. He bad simply got people to advance him money to live ou the strength of what might be his share. In reply to Mr Tustin Mr Butcher said that out of the £SO claimed by Jellicoe he had received £2O. Mr Jellicoe had drawn up a mortgage for £SO and had given him a letter in which he said he would account for the remaining £3O when he (Mr Jellicoe) was certain of the amount of the legacy. Eventually it was credited against the costs of the libel action. The deed was simply a mortgage on the property. No time was specified.. It might have been paid by the English solicitors. He was certain that it would if it had not been paid already, Mr Harper asked the nature of Mr Tußtin's claim. The Official Assignee explained that it was for the amount of a promissory note drawn by A. Donald and endorsed by Butcher. Mr Harper contended that Mr Tustin had no claim, and asked how he came to take the aotion he did in making Mr Butcher a bankrupt and putting the creditors to expense. Mr Butcher had already assigned his estate to his creditors, .and he did not consider Mr Tustin's action proper. Mr Tustin declined to answer anyquestions put by Mr Harper, as he had not come there t# be examined.

He further stated that there were other reasons why he had taken Mr Butcher's endorsement. Mr Acbeson (who appeared on behalf of Mr Butcher) objected to Mr Tustin addressing the Official Assignee. Mr Tustin said that he was not going to be sat on by Mr Butcher's solicitor. What he came to say he intended saying. Adam Donald had said at his examination that it was through endorsing Butcher's paper he had been obliged to file. In reply to Mr Acheson Mr Butcher stated that he had assigned to Messrs Haselden and Thompson his interest in what might be coming to him for the benefit of his creditors, over two months ago. He had not given a list of all his liabilities. He did not receive any loan at the time. He had never estimated the value of the Eroperty coming to him. He had eard that Mr Tustin had. said it was £2OOO. ■■.■•■

. ; Mr. Tustin said he was hardly satisfied ' regarding the assignment of the estate to Mr Butcher's soiioi'ors. About two months ago lie had, through his solicitors, asked Messrs Haselden and Thompson to assign to the two largest creditors suggesting himself and Mr Snmple, who he believed at that time to be the largest. As -regards putting the' creditors to expense'he asked Butcher to file and had offered to advance the necessary five guineas tor the fee. Mr Butcher declined to take this course. ] Replying, Mr Butcher said he bad never heard of Mr Xustin's raquest to his solicitors to assign to two creditors They had acted without his knowledge. He would further state that eight months ago he had signed a paper assigning the money to his creditors. Mr: Toogood thought it a pity that a proper assignment had not been made before, and suggested annulling the bankruptoy and assigning instead. Expenses would thus be lessened. This course was not considered expedient, as matters had already gone so far. It was then moved by Mr Tustin, and seconded by Mr Toogood, that the Assignee take the proper steps to secure the estate for the benefit of the creditors. The motion was carried, and the meeting adjourned.