BANKRUPTCY.

Wairarapa Daily Times, Volume XII, Issue 3895, 25 August 1891, Page 2

BANKRUPTCY.

Estate of Edmund Bolt

A meeting of creditors in the estate of Edmund Holt, bankrupt, was held at Featherston yesterday, the Deputy OffioialAssignee(Mr W. B. Chennells) presiding. The debtor, on oath, stated that his liabilities were £144 18s Id. There were certain claims he disputed. He owed Coleman Phillips no money. He did not advance him any money except a percentage on a contr icfc for bushfelling 127 acres. He was getting £2 per acre for heavy busii, and 17s 6d lor light bush. He bad only about thirty eight acres to finish. The contract had not paid him so far, although he had told creditors it did. His men struok work, and he could get no more to do it. The men made statements which were not true. He had a very good contraot. Since May 18th he had drawn about £152. He could get no men to go on with the job. Coleman Phillips had paid him £35 a fortnight ago, but he did not pay this to the men, because it would not pay them in full, and outside creditors would press him. About eleven of his men were working up to the time he filed. Four men said they would take proceedings if he did not pay. The men said they would not go on with ! the work without security. He had paid the money for food, stores, and wages. He had a book showing the amount the men earned, but the book did not show how he had disposed of the monies received from time to time under the contract. H fl had no estate when he started the contraot, and kept no banking account. He had no other property beside that mentioned in the statement except a pig in a stye. Examined by L£r Phjliips : 1 said I wanted £35 to pay the men aa they had all struck. I offered the men 17s 6d in the £, and told them to come to my house to be paid. Next morningl went away by train and returned in the evening. When I came home I was told I should be mobbed.

Examined by Mr Toogood : I told you I had 36 acres to fall. I got the money from, you under misrepreßentation. By Mr Achespn : I found that I was insolvent on Saturday afternoon. The bush was heavy, and I was bad for a week. I started with five men, and paid them £1 a week. I wgrked as well as my men. I went tp Mr Pownall tq see wbat I should do to. pay the men. The men told me two days before I got the money they would not work without a guarantee. The night I obtained the money from Mr Phillips I offered the men 17s 6d in the £. I was satisfied the contract —*»> naying until 1 came to reckon np w«- i. . T did not intend to my accounts. ~ , -* ♦oil them d«fraud the men, and did non «v.. there was £2OO in Mr Phillips' hands. By Mr Bnnny : I got the money on the 14th of August and filed on the 19th. By Mr Pownall: The men would have knocked off work whether 1 paid them or not. I got a bad name, and would have hid a difficulty to set the men to work. I have had small contracts before. The examination was adjourned.