MEETING OF CREDITORS.

Waikato Times, Volume XXXIII, Issue 2657, 23 July 1889, Page 2

MEETING OF CREDITORS.

Thk first meeting of creditors in the estate of James Ramsay, of Rangiaohia, farmer, was held at the Court-house, Tβ Awamutu, at 11 o'clock on Friday, ]!)th inst. Thero were a good number of creditors present who proved their debts, amongst whom ware Messrs H. and J (londfellow, James Ryburn, J. W. Kllie and \V. H. Mandeno (on whose behalf Mr Cresham was retained) Andrew Kay and others. A.s the Official Assignee was absent, Mr J. W. Kllis was elected to the chair. Mr Jas. Ityburn was appointed supervisor at a remuneration of 2.',%. As shown by the debtors' statement tfie deficiency amounts to €1028 7<. Mr Gresham, solicitor for the principal creditors, examined the bankrupt, who made the following statement: The first advance made to mo by Messrs Goodfellow Bros, was £(iSO in October, 18S0 ; the second was in September, 1884, £470, iu all amounting t0.t1120. 1 am now indebted to Messrs Goodfellow Bros, £300 fur arrears of interest, this in addition to the principal [ valuo the socurity at £'i 25. About August last I obtained credit to the extent of £50 from Mr James Ryburn, of Te Awarautu, and afterwards further credit from his son at the same plae.o for which I expected to be able to pay out of. money owing to me by R. Stevenson, of Auckland, who owed me about £47. I got further goods on credit, valne £GO, from Mr Ryburn's son during Mr Ryburn's absence from tho store. At the time I obtained credit from Mr Ryburn I cunnot say whether Stevenson had gone bankrupt or not. About three months ago I got £30 worth of wheat sacks from Mr J. W. Kllis, which I expected to pay for after thrashing my wheat, When I obtained these (roods on cre.dif from Messrs Rybmn and Kllis, I owed .Messrs (loodfellow, Bros., £300 for arrears of interest. I estimated my wheat to yield on an average about 28 bushels to the acre, but it only turned out. at about 15 bushels or less to the. acre. I had about 00 acres ol wheat. I have never kept any books as I am not able to do. I hud about two acre< of barley. Some was sold by Mr Knox of Hamilton, some to Mr Hutcliinson of Orakau, and tho remainder I gave as feed to my horses. The Chairnmn requested that the bankrupt would furnish a cash account for the last six months, which the latter expressed his willingness to do. Mr Ryburn, the supervisor, was to receive the information necessary for the preparation of such an account. It was the opinion of the creditors present that if the bankrupt was not competent to keep books himself, he should not have obtained credit so largely unless h« employed some competent person to keep his accounts for him. The supervisor was requested to confer with the Official Assignee as to the immediate realization of the assets.