MEETING OF CREDITORS

Wairarapa Daily Times, Volume XV, Issue 4766, 6 July 1894, Page 3

MEETING OF CREDITORS

Estate of P. Carr.

A meeting of creditors in the estate of Patrick Can-, bankrupt, was held at the courthouse this mormV before Mr W, B. Chonnclls, Deputy Official Assignee. In his statement the bankrupt stated that his losses wero caused by having to pay too high rentonhis property, and to losses sustained by having to pay out on contracts that be had taken in hand, owing to bad luok,

The debtor, examined by Mr Bunny, stated that ho had taken up a contract on the Wainui and East Coast Road, but, heavy slips having occurred, he was forced to go over a great part of the road again, It was not true that tho inspector ordered him to do a great deal of tho work again, it having been improperly executed, His contracts had not beon successful. Ho had paid a great part of his rent in work. Within tho last twelve months, Mr Caselberg had tried to got rid of him, as tenant, It was three years ago that he found he was goingwrongfinnncially, Some of tho debts had been incurred since then, These debts were principally for goods and wages. He had, however, a good prospect of paying them nt the time. Outsido tho property secured to his creditors, he had nothing, Ho had two acres of land fit Kai'tawa, which.™mortgaged to Mr Bunny to secure £53. He'could not make an offer to his creditors at present. By the Assignee; His wife had no property. Had paid all tho money ho had received for tho last three years bychequo, Hadkeptnorecordofwhat he had paid out, Tho total amount to be paid for the East Coast road contract was £ll4B, of which £BO was kept back. This amount was kept back to be spent on tho road, By Mr Bunny: He called a private mooting of his creditors in Mr Pownail's office, when he promised to pay 5s in the £. This was 18 months ago, He had not paid all his creditors in accordanco with tho agreement. Had paid Lowes and lows their accounton obtaining tho amount from his contract, The moeting- was then adjourned jftig #, in order to ascertain tho value of tho properties secured, togother with any other information necessary, the Deputy Oloinl Assignee stating that ho would take the opinion of the. Crop Prosecutor!

■ither the debtoi's action in debts, •without leasonictations of being able to them, came, in this caso, penal sections of tho Act,