MEETING OF CREDITORS.

Wairarapa Daily Times, 7 March 1894, Page 3

MEETING OF CREDITORS.

Estate of Hwiy Stems.

. The first meeting.of creditors in the abovo estate was hold yesterday at Pabiatua.the Deputy Official Assignee (Mr W. B. Obennells) presiding, and most of the creditors being present or represented. Mr fi. H. Wilson, ol Wellington, represented Messrs, Johnston and 00,, Anderson k Co., Aitken, Wilson and Co.,andTurntu)l and Co,.

The debtor on oath stated that he started business at Pahiatua In" September, 1892, with capital in sash and property, of about £4OO. Two months ago found ho could not carry through, being unable to get in his money, lie bad made several losses and was being pressed by Messrs Barraud and Abraham for dishonoured p.n.'s, Called a private meeting of creditors who were prepared to accept monthly bills to enable debtor to colleothis book debts. Bad debts he estimated at £3OO. Considered he was doing a payablo business and on balancing at ono time found himself £6OO to the good, Messrs Barraud and Ahlaham wanted to bay a property whioh debtor would not sell. Was prepared to offer 10 in the.£ payable in 8, 6, 9, and 12 months bjlls, debtor to take, over the property. In reply to Mr Barraud dobtorsaid he was in difficulties two months ago. Had paid some of his creditors since October last when ho dishonored Messrs Barraud and Abraham's bill.

Mr Barraud considered that as the debtor wbb praoticaliy insolvent in Decembor, payments made sinoo that that period were not legal, It was resolved, aftor furtbor oxanimation to wind the estate up as soon sb poßßible, and that, separate tenders be called for debtor's stOok> property and book debts., It was resolved to allow debtor £3 per week for maintenance for eight' weeks from the date of adjudication. The Btock estimated by the debtor at £22s,has been valued by Mr Briees 'atJß3o7l3s{?d, •;■:'-