MEETING OF CREDITORS.

Wairarapa Daily Times, Volume XVI, Issue 5072, 9 July 1895, Page 3

MEETING OF CREDITORS.

B STATE OF W. H.DE LISLE. Ireditore in the ile was held at ng, Mr W. B. isiding. ent or reproves and lorns, ilmm and Co., lar. ien statement tor:—ln 1889 gery business r ent into the Groodwin, who 10, We wore to tbout <£2so. I ;h winter, and inths remained ir engagement oberts&Co.to . also dealt in n account. My jlusive of the ibout £2OO a ras practically compelled irom iimo to time to pay monoy into the partnership Account, I nerer drew a salary from the partnership. On our first trip we were wrecked at Raratonga, and lost ererything; buthavingau insuranco of £SOO on the cargo,were enabled to carry on again,though this wreck was a loss of £3OO to us over insurance. | Wo then eliavtored another vessel ' and continued the trade with varying success. In 1892 we pnrcksed the Linda Webber for £7OO, paying

£l5O cash, and rising £3OO on morttja£[e. The vessel was to be üßed by Goodwin aud DeLislo at a rental equal to the interest. As long as I wasablo, I paid tlio interest out of my private accounts. Had not been refunded the interest, Tlio vessel was chartered in 1894 to Messrs Kolin and Browne, ot Auckland, with a purchasing clause of £7OO which was exercised by them in November last, There was a loss on tlio vessel in repairs, insurance, etc., of £43 10s 3d. This, together with the £l5O paid in cash for the purchase, made a loss of £193 10s 3d. Besides this wo chartered other vessels one of which, the Awarua, (bought) was wrecked. To these causes and the heavy fall in the price of Island produce in the Home markets, particularly copra and cotton, iu which the firm I dealt largoly, 1 attribute the losses ic the Island business.

Had bueu connected with wool and skin buying for tlio past ten years and sinco 1889 had paid the greater part of his eamingsiutotlicpai'tnershipaceoimt. He was solvent until eighteen months ago and the greater part of his private indebtedness was incurred during the past eighteen months. During this latter period ho had lost heavily on skins and wool, otherwise jho could easily have paid all his ; private debts. Since January last lie had not earned £5, but had not increased his privatedubts toany extent. As the partnership affairs occupied • a considerable portion of bis time, and he was getting nothing out of it, jhis continued connection with it simply increased his risk and deprived him of opportunities of providing for the claims of his private I creditors. Having no private assets, ami being pushed by both private and partnership creditors, he considered it best to file.

Tlio D.O.A, stated that the private ostate could only bo dealt with, In respect of the private indebtedness any surplus would gototho partnership or vice versa. The debtor, sworn, stated that the soason before last ho made £Bl4 on commission on wool buying, out of which lie paid on behalf of Goodwin and De Lisle £298, and was consequently unable to pay his private debts for the first time in his existence, Last season he only earned £SO, out of which ho only received —less expenses, etc.—about £2O. His wife had private property and means of her own when they wore ! married. He had no offer to niako to his creditors.

The Assignee said that as far as lie could see there was nothing for the private creditors. Ho would | look into the security of Mr Bnick, land also take legal opinion as to the i position of the property hold by Mrs j DeLisle. As far as lie could see at i present, it was questionable if any | action could be taken, but no action : would be taken until the creditors Iworo consulted. He could not see Jany surplus from the partnership estate nor from tho private estate. On llio motion of Mr lorns, soconded by Mr Danicll, it was resolved to recommend the debtor for his immediato discharge. The D.O.A. stated that with respect to the partnership, Mv Goodwin had all the assets, and was liable for all the partnerships debts. The meeting of the creditors in tho private estate then concluded, and the debtor was examined on partnership matters.

Messrs Lowes and lorns hold their fortnightly stock sale at their yards tomorrow. The list of entries for which up to tho present comprisesoo lambs, 550 ewes in lamb including 2-tooth, SO wethers, IC3 fat ewes, 18 fat heifers, store cattle, brake and harness, horses, pigs, etc.

One ot the sights of Wellington, at any time is undoubtedly the magnificent cstab lishmeni,known as Te Aro House, and now that every department within its walls is filled to overllowini!, with a bewildering variety of the season's, novelties in millinery, mantles, dresses, etc., it is more than eyer a pleasure and profit to visit the wholesale family drapery warehouse, Te Aro lionte.

Particular attention lias been paid this i tar to the reijuiremonts of country customers, and the result is to be seen in the immcDso and varied stock ot calicoes, shirtings, flannels, llannellcttcs, strong wearing dress materials, men's and boys' c'othing, lie. The choico in each department, is almost unlimited, as may he imagined, when it is stated that ot flannelette alone, over 50,000 yards have this season been imported at Te Ato House, Wellington.

A specially organised department, lias been established to deal with country orders. Patterns of any nuterials in stock, will ho forwarded to any address, post free. Country residents are invited to write for prices, or any inform,ition regarding goods wanted. It is confidently asserted that nowhere can such a wide selection, or such sterling value be obtained, as at To Aro House Wellington.—Adyt. We are not in tho habit of boasting. Our ways arc modest rather thau hold and in hiding onr light under a bushel wo have often imperilled our chances of success; but on this occasion with so-called sales on every side, with 6rms selling off around us, and people in all sorts of businesses offering their goods for anything anybody likes to pay, we fed impelled to offer our services in the matter of supply. Busy I Wo: are aj busy bees, full of customers from morn till night. Crowded are our counters awl crowded is our establishment with eager buyers, and the reason is, the public have founil out that our prices arc lower and our goods better than can bo purchased elsewhere, What about tho blankets and flannels, and the dresses and mantles and the hosiery and 'inens and the clothing and mercery ? Why tho prices themselves are an inducement to buy, while the marvellouo quality which accompanies these priccsmake tho goods Bon ilarehi value. Our only address is L, J. Hooper, Don Marchfc, Masterton.-ADvr.