ESTATE OF JORGEN PAASKE.

Wairarapa Daily Times, Volume XV, Issue 4791, 4 August 1894, Page 2

ESTATE OF JORGEN PAASKE.

Meeting of Creditors,

At a meeting of creditors in the estate of Jorgon Paaske, held at Carterton yesterday, Mr TV. B, Chennells, D.0.A., presiding, the debtor, on oath, stated' that when he started business three years ago he owned 650 acres at' Waikato. He had sold 116 acres for £IOO, the re mamder of tlie property being perpetual leasehold.. Owned a share in a gold-mine afcMalmkipawa. which] had cost £25 and returned dividends amounting to £4B. Had ; £So or £4o' in cash when he started business, In 1892, made £SOO by gristing, £3ooof which was profit. Lost £l7o'in the year 1891, and also'six weeks' work through the' machinery breaking down, Worked at a loss in 1893, there not sufficient wheat available, and this year no wheat at all to speak of. Filed because he could get no wheat to grind. Nearly all the debts were incurred during the past six or eight months, Had been, burnt out in November, 1892, Was paying £l3O per annum for, the lease of tho mill with right of pur. chase for £IOOO. Had put about £4OO or £SOO worth of improvements into themill machinery.and considered that Mr.E, L, Wakelin, the owner, should allow: £2OO for machinery/ Debtor stated ho was a married man with three children, and 25s a week kept; them, including rent. Considered his interest in the lease of the mill (C years-from April Ist; 1891) ; was worth'£Boa Ho 'had put a new silk dresser and six omven elevators into themill. j', 7 On the" motion of Mr Weston,, seconded by Mr J, Rauby, the matter of realising the estate was left in tho hands of the Official Assignee. ; '