IN BANKRUPTCY

Gisborne Times, Volume XXVII, Issue 2534, 22 June 1909, Page 6

IN BANKRUPTCY

ESTATE OF CHARLES TAYLOR

An adjourned meeting of creditors in the bankrupt estate of Charles Taylor; cabinetmaker of Gisborne, was held at the office of the Deputy-Official Assignee (Mr J. Coleman-) yesterday. Mr W. L. Rees represented the insolvent, and- there were about 12 creditors represented. , ! ■:'■> - Mr ReeS said Mr Taylor Irad used every effort to- find finance to carry on the “business, but hadi been unable, to do so. :He (Mr Rees) i-thought 'that as the business wits paying, instead of having "it- closed "-up,- the.- trustees should, .carry it ,on in the, liopo that in the spring Mr Taylor, would bo able to take it over. . ..

The Assignee said -the profit on the business since it was taken over by thp .trustees was . about £142. ■ The whole • of the sales netted about 13s lOd in the £, while' the highest: tender for "the :business and. stock in trade was 9s lOd in, the £. . Only two tenders-wero received, th e cither -being. at 8s Qd ,in the £: , , :....x ■' v/Mr Rees said that iXtbe .highest tender-, was accepted, it, would -mean 'a; loss of 10s in-the £ v to. the ■creditors. He thought the. business .should bo;carried on until the summer months, when the insolvent,., would J. .'.probablybe able .to make a substantial “offer 'for the. biUUness., .. Xt-./yyas; now, .a.had-time of the yMi': io,ssi>jo£e oi] the/stock, and-if it was worth more to the creditors. _ Mr X RTEfrK, \vlib"represented the principal "creditor,.!said that, lie , would he prepared--to~see the business carried oh if a* profit could he made for the creditors-. I .. ..... ; . .<( i . .. -Mr XL C. . Tewsley, for Messrs Sargood, Sou and Ewen, .also, favorpd the carrying on of the'business: in the hope that the .estate would -..benefit-in. some way when, the financial position of the town .improved. : : >-■-Vrw. ij ■ The/ Assignee; said there weyp, some questions connected* with . the- estate .-that.. should be.- considered by , a . com:mitt.ee, which could /report to a, meet“SfcssW Kirk,' fciey/ Barker and Riach ‘ were ; appointed a c °mmittee to report' upon the.. valuation of the |iioperties in the estate, and th.o meeting adi o urned--untiL3 ; 30,.pAn.„t0-day,when the committee will report. ;

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Tlie quSiti#"''or infiversnl training Iras' Liken firm 1 root: .ill; #e a minds ; M some youthful Aucklanders . A numbov ‘ ; oL •small'-hoys -in . tlyat city wero observed''recently going through a mysterious form of drill, which ended \ 'fclitii P seizing'liold of., an. inpaguiary obibet' a (id- stahbi ng fiercely,.-at it with, the 'sticks with : which they. were, armed. “We’re ; gettin’* -ready . for , the .yel«>} v peril;” explained' one k of Ithe, contingent. -“You shoLMXie ' liest . way to tackle , a Chow ik to’ get dnifii• -by the. (pigtail.- nh then finish .him off quick- and- lively .