IN BANKRUPTCY.

Gisborne Times, Volume XXVIII, Issue 2720, 27 January 1910, Page 2

IN BANKRUPTCY.

A MAGISTERIAL INQUIRY. Mr. W. A. Barton, S.M., under clause 92 of the Bankruptcy Act, conducted an inquiry at the Magistrate’s Court yesterday morning, on the application of the Deputy Official Assignee of Wanganui, into the estate of Thomas Brownlee, storekeeper, deceased. Herbert John Brownlee, architect, was examined, and stated lie- was the son of the deceased, who had been a storekeeper at Wanganui. He was not aware that his father and mother had filed a petition in bankruptcy. He had received letters from the Deputy Official Assignee regarding his father’s estate. Witness believed his father to be bankrupt. He knew that a firm of solicitors in Wellington were acting for his mother, but did not know they were acting for his father with a view to paying the creditors in full. He knew that his father had an endowment policy for £SOO on his life, and that the policy matured before bis death, which occurred in 1908. The money was placed in the savings bank, Gisborne, in witness’ .name. At the time of his father’s death, there was £525 10s 3d in the bank. In addition to that lie owned property at Mangatinoko, ten acres, with a small house. This had been bought after the bankruptcy for £450. When witness looked into the matter he found that £225 was paid, and that there was a mortgage of £225 on the property, but witness did not know where his father got the £225 that was paid. Witness produced probate of his father’s will, the net value of the estate being assessed at £597 9s 7d. Witness did not have the stamp accounts, having returned them to his solicitor at Pahiatua. After liis father’s death he received £463 0s '2d from his solicitors, and this was still in his possession, and he had received £7 4s rent from the property. Witness believed that his father subsequent to his bankruptcy sold a property in Christchurch, but he did not know what was realised, but thought it would He about £220. At the time of his bankruptcy his father owed £2lO. Witness had not paid any money to the Assignee on behalf of his father. He believed his father was an undischarged bankrupt a.t the time of his death. A demand had been made to witness to pay the deficiency, bnt as he was not sure of his position, he bad not paid anything, nor had he taken advice. Witness did not know his stepmother was penniless. He had been advised by his solicitor that be would have to pay the deficiency, but lie did not wish to pay any money till certain matters in the estate were settled.