MEETING OF CREDITORS.

Wairarapa Daily Times, Volume XVI, Issue 5133, 18 September 1895, Page 3

MEETING OF CREDITORS.

m ESTATE OP WILLIAM TUCKER, MAKURI. Tho first meeting in the above estate was held at Pahiatua yesterday, Mr W. B. Clieimells,' D.O.A, presiding. The debtor put in the following statement:—The cause of my present position is owing to the following:—l bought into the business with only £2OO capital; I was assisted by two Wellington merchants with £IOO from each, and was thus enabled to pay down £4OO cash of the purchase money, which was £IOOO for lease, goodwill, furniture, etc. With stock the total was £llOs, I paid tho merchants who were kind enough to assist rae. I have paid also £3lO off Cotter's account, and about £SO of small ttdebts which I owed when I left Wellington ; also other legal debts iu connection with the transfer of the business. I was getting along well until about six or oight months ago, when business fell off, and has been still further failing owing to the cessation of work in the district, and the consequent removal of many people* The amount of business now doing is entirely out of proportion to the expenses, and I thus became behind in my payments. I filed because I was asked to do so by a resolution passed at a private meeting of my creditors. In reply to the D.0.A., debtor stated that when he started ho took about £3O per week, but it has now dwindled down to a very little. Rent was £3 per week; wages £1; license 10s; and insurance. Had given no money to his family, tho mombers of which had no money to his knowledge. . On the motion of Mr A. Stewart ittt-ivaa resolved that the debtor's in tl|e lease, license, and mrnituro be sold at once. On the motion of Mr Briggs ill was lesolvod to auction tho book debts, Qn ibemotion of Mr Stewart, the] debtor was allowed to retain £s' cash in band, The meeting then adjourned.