MEETING OF CREDITORS.

Wairarapa Daily Times, Volume XV, Issue 4511, 31 August 1893, Page 2

MEETING OF CREDITORS.

Estate of Richard Euernden

A meeting of oreditors in the estato of Richard Evernden was held yesterday afternoon, Mr W. B. Ohennells, Deputy Official Assignee, presiding.

The debtor's written statement was as follows" I, Richard Evernden, of Masterton, do make tho following . statement as to the cause of my being compelled to seek the protection of the Bankruptcy Court. During the year 1890, 1 was cutting timber at a bush on the Opaki, but through difficulties in getting the limber to the mill and the distasce it had to bo carted combined with tho low prices obtained, I found that in January, 1891,1 was in difficulties, and could not meet my engagements. I tried to arrange with the person who held a mortgage over my plant, but failed, The mortgagee then seized the mill and plant, npon whioh I called a meeting of my oreditors and laid my position before them. My creditors agreed to pay off the mortgage on my plant and for the purpose subscribed the necessary funds amongst themselves, and decided to work out the bush to the best advantage to themselves. At this time I gavo up everything to my creditors except my house, upon whioh there was a morteago, I worked for some time for my creditors for wages, but owing to difficulties wi<b the owner of the bush and the difficulty in getting out the timber they were obliged to wind up the concern, paying a dividend of 2s 4d in the £. Since I left off working for my creditors I have been working off and en for tny son, but have not made full time. Owing to the illness of my wife and one of my sons I have found it as much as I oould do to live. Owing to pressure from the Empire Loan Company I was forced to file, I may mention that a great many of my oreditors signed a deed releasing ire from their debt on being paid the dividend from my estate. These I have not included in my statement." Under examination he stated that the only property he possessed was a house in Miriam-street which was mortgaged for £l5O, and interest and rates were also owing. He had n,o furniture or other property whatever. The house was worth £l7O. Tho whole of the debts were owing when the debtor held a sawmill at the Opaki. No debts had been contracted since he gave up the mill. He had given every assistance to the Trustees appointed to wind up the estate in 1891, and they managed to pay 2s 4d in the £ to some creditors, and others released him altogether. Those appearing in the statement did not sign tho release. He had carried on business at Opaki from 1889. Had not kept proper books. Had no offer to make to creditors. Had work to go to, but his av«rago earnings had not been one pound per week since he left tho mill, Did not ihiDk ho could earn 1 more than 25s or 80s per week. Had ' been sued hy two creditors who took out judgment summonses against him and that was ilie immediate cause of filing. Had not filed before, because i he wished to p*y oil his creditors, but had het<n unable to do so, having only earned enough to keep his family. i The meeting then adjourned,