CREDITORS' MEETING.

Wairarapa Daily Times, Volume XVI, Issue 4986, 27 March 1895, Page 3

CREDITORS' MEETING.

The first meeting ot the creditors in the estate of Jas. Peters, shoemaker of Carterton, was held yesterday, the D.O.A. (Mr W. B. Chennells) presiding, The creditors present, were Messrs Bing, Harris & Co,, T, Proctor, G, W. Doller, A, King, and G. A. Fairbrotber. The debtor was eiamined at length by the D.0.A., and stated that he had commenced business in Carterton, seven or eight years ago. At the beginning of 1894 he removed his business to Eketahuna, at which time the only accounts he owed were to Messrs Proctor, G, A. Fairbrother, and R, Fairbipther. For a short time he did very well at Eketahuna, but afterwards the trade fell away to nothing, and he returned to Carterton in December. last. When he left Eketahuna he owed £212, and the itock waii worth £lB7 19s 4d, the book debts.were £36 los, of which he collected.so, and sold the balance for £IOO. After he came to Carterion'he got more stock and leather to Ac value of £64 16s since which he Tiad paid cash for all the goods he •had purchased. ,Ho did fairly well ■at Christmas time, b'ut the trade had leen bad for the last two months. He had only considered his position a week or two Back, when he was pressed by ono.or two of his creditors and oij account of Proctor threatening to distrain, he decided to file. He did not tell his creditors his position when he ordered the last goods, it had cost him £2O to go to and from Ekeiahuna, Mr W, Seaton went into partnership with him at Eketahuna on Ist July, and paid in £SO, of which £45 18s had been paid to his creditors, and the balance spent in expenses at Wellington when he purchased the last ntock. Seaton afterwards wanted to get out of the partnership, but the debtor could not pay back the money. Two pounds was paid to Seaton, and witness was to pay interest ou the £SO and pay hack the *'ncipal in two years, Seaton to go an apprentice for two years on terms specified in the meantime. Ths £SO paid in by Seaton was not taken into account at Eketahuna. The stock was put down at cost price without freight. It was decided that tenders be called for the, stock and book debts, and unlesß thehighegt tenderreached the amount to be agreed upon bv the Assignee and Mr Slinn,the stock to be eold by auction, . Jhe meetißg then adjourned,