IN BANKRUPTCY.

Gisborne Times, Volume XXVIII, Issue 2712, 18 January 1910, Page 2

IN BANKRUPTCY.

IVJI. HENRY POOI.

The adjourned meeting of creditors m the estate of Win. He nr'- Pool, tobacconist and hairdresser, bankrupt, was held in the office of the Deputy-Official Assignee yesterday afternoon, there were present bankruot and Ins solicitor (Mr T. Alston Coleman), Messrs O’Meara, Pool, senr., W. Miller, Kells, Piacli and Johnston. In examination bankrupt stated that he started .business in March 1908 with a capital of £BS, and lie was first aware of liis insolvency four months ago. His father .and Mr Martin, unsecured, had each guaranteed him £IOO, and he had drawn to the full amount. The cause of his bankruptcy lie attributed to falling off in business, through excessive competition, and he had also lent- £4O or £SO. He had taken proceedings to recover this amount, but did not press the matter. During the last two months he had oaid bv cash or cheque for goods. In answer to Mr Itiacli, as to whether it was correct for one creditor to be paid in full, the Assignee stated the firm referred to, Messrs Ifwerson and Holiest on, were down as creditors for £24 odd. _ ' _ . Bankrupt said he sent the firm a cheque, and upon its being dishonored, he forwarded 5 another. He did not know lie would have to file at the time. Mr Riach then moved that the Assignee Should inquire into the methods how the payments- were made and the Assignee agreed to do this. Intimation waS given by the Assignee that two tenders for the business had been received. The first from F. MKing was the offer of 11® 111 the, £, updn a valuation of the stock, etc., and £55 for goodwill of lease, and the other from Mr H. E. Dodd, the offer of £2OO down for the whole concern. > The Assignee, did; hot tlnnk it was correct to accept the offer upon a valuation, as stock sheets had been prepared at a fair valuation. a, After some discussion it was decided to leave the matter in the hands of the

Assignee an<l Messrs Ivells, Pool and Johnston, representative of the largest shareholders, for them to consider the proposals. 'J iie meeting then, adjourned till J-oO p.m. to-day, when the report of the, committee'will ho received.