MEETING OF CREDITORS.

Wairarapa Daily Times, Volume XIII, Issue 4253, 26 October 1892, Page 3

MEETING OF CREDITORS.

EstateofD.S. Papworth, On resuming at 2 o'clock yesterday afternoon Mr Mnxton asked how tho £l6O was exponded. Mr Papworth said it was expended on engineand shafting etc, The engine I cost £55 and £27 for repairs. Tho ~ shafting was not all paid for. Certain things from the lira were used at the mill. Tho man took the wreck of the machine by Mr Izard's instructions to the mill. lindil, who was bringing the things along, met him and Mr Gapper, and asked what ho should do. Mr Gapper said to the man, whoso name was Budd, "carry, out Mr Iznrd's instructions." Tho pulleys and other things were brought to the mill and used by him, The case in which he was sued by Messrs ikoullar and Ohisliolm for a piano never came into Court. It was the piano in the Temperance Hall, aud was not his own affair. Owned no property in Masterton at tho present time, having sold a house for £lO6 previous to going into business in Greytown. The money was spent in Greytown. Ho had been working pretty continuously up to the timo of Lis accident, Did not keep hooks because ho was partly engaged in building the mill, and hud not got into pro*r"working order, Received wheat Jfom Mr Maiton as stated, Did not recollcct tolling Hoffmann that the wheat was his. Hoffmnnn might have been misled by his pointing out other wheat ho had exchanged for Hour. Believed that two or three sacks of Maxton's wheat was used. Every mill used its customer's wheat and gave flour for it. The Doputy Official Assignee (Mr Chonnells) asked whether any creditor had anything to suggest re the disposal of the milling plant, If not he should take steps to realise to tho best advantage. Mr Gapper said ho should move that the Official Assignee take counsel's opinion as to whether there was a claim ior insurance, and if so take steps to recover. Mr Maxton asked what position Mr Gapper was in, whether he appeared as a secured creditor or as an ordinary creditor. The Official Assignee said that Mr

Gappor Lad proved as an ordinary auditor, 1% Mr Maxton said that in that case ho would second MrGapper's motion, It was then put and carried. Mr Izard said he should like to make a statement regarding the insurance. For his own sake, after the outrageously fulse statements of Mr Papworth, ho would state the facts of I the case. Some time agoho had been appointed agent for the North German Fire Insurance Company, On his appointment certain hooks and papers had been sent him but the list of prohibited risks was not forwarded, Mr

Papworth certainly did send to ask ' the rates of insurance, for a boy of Mr King's called at his office and he had : written the rates on a piece of paper • and given it to the boy. He'might ' Btate that ho was not favouring any ' side in this matter, but he should be ' pleased to see the insurance made ' good, as he considered there was cor- ' tainly a moral claim a»ainst tho Com- ' pany. Ho saw that tho various solicitors present were taking noteß ad knew what that meant. He was ' jWectly willing to give tho same evidenco iu Court, During the time ' be was absent from his office in April ] last, his clerk had accepted a premium ' fiom Mr Papworth and given a ' receipt for it, On bis return he re- 1 ceived the cheque and paid it into ' his trust account, Subsequently ( wrote out receipts in triplicate as re- I quired by the Company on the Com- ' pany's forms, He had a distinct re- I collection of meeting Mr Papworth ' and telling him that his insurance was '■ not valid until the proposal was sigoed ' and asked him to call at bis (Izard's) ' office and sign it. Mr Papworth did ! not do so, and the Easter holidays ' intervened. He had not seen Pap- ] worth after meeting him in tho street' until onu Monday morning in March ( he came to say the combine was des- ' troyed by fire. Papworth had asked ' his opinion as to the validity of his ' claim for insurance, but as agent for ' the North German, ho declined to ' advise him. He had told Papworth 1 that he had a moral right to the in- ' smsnee, and thoroughly believed he I had At the request of Papworth had visited the wreck of the machine but : had not taken it over as agent for the Company, Had einoe severed his connection with the North German Company not because they would not pay, but because they intimated ho would be personally responsible, It was downright false for Papworth to say he had taken charge of tho wreck, In reply to Mr Pownall, Mr Izard said be bad not sent Papworth's cheque to Wellington. It was paid into his trust account, and eventually credited to Papworth with his concurrence against bis contra. The credit was not shown in tho account ho summoned Papworth for, by an error. 1 Mr Papworth here emphatically denied Mr Izard's statement re crediting the cheque. In answer to Mr Bunny, Mr Izard said he bolieved he had informed the Company of the burning of tho machine, by wire, before ho saw Mr PJpvortli. As far as he was concerned, he always looked upon it as a fact, that the machine was insured in the North German Insurance Company. ■ The exception the Company took was, that no proposal bad been signed and the risk was a prohibited one. Mr Wbyte said that Mr Papworth had grossly misrepresented affaire to him. Ho always understood the house and mill were Papworth's own property, No books were kept at all, except a rough book by Hoffmann, fle wished to know whether ho should have to wait for his wages until the result o! the action was known, Mr Chennells informed Mr Whyte that his was a prior claim and would bo paid as soon as the estate was realised. In reply to tbo Assignee, Mr Papworth said all moneys collected by Hoffmann had been accounted for to Mr Izard. At this stage the meeting was adjourned sine die.