PLAIN SPEAKING.

Gisborne Times, Volume XXIX, Issue 3266, 11 July 1911, Page 5

PLAIN SPEAKING.

CREDITOR AND BANKRUPT.

“TELL THE TRUTH NOW.”

•MENTION OF SHOOTING AND

THROTTLING

A meeting of creditors in the bankrupt estate of Wm. Jones Avas Pt-ld at the Deputy Official Assignee’s Office yesterday afternoon. Mr. A. I. Ccieman appeared for Mrs. Allen, Messi s. George Hall, and Chrisp and Coleman. Mr. T. Brown appeared in person. The bankrupt stated that, he had resided in Gisborne for about two years, and had been employed as a laborer. He had been earning £2 10s a week when in employment. During the lasc four months he had been laid ud with sickness for about a month, end his Avife had been ill for some considerable time past. He had previously resided in New South Wales, and followed the occupation of a stoker there. About January 9th last land agents bothered him and Avanted him to purchase the property Avhere he was residing. It was situated in Whataupoko, aad Mr. Brown, one of the creditors, offered him £25, and asked him to take it »o that he could purchase the property. He said he Would be doing him (Mr. Brown) a favor if he took it, and bankrupt eventually agreed to have the money on loan. Mr. BroAA-n: Tell the truth now. Y,u know that is not right. Bankrupt, continuing, said that he agreed to purchase the property for £465, and he paid as a deposit the amount he received from Mr. BroAvn. The remainder of the purchase money was secured by mortgage. OAA-ing to Mr. BroAA-n pressing him for the money he was compelled to go bankrupt. He attributed liis bankruptcy to undertaking the purchase of the property. He had not paid any principal or interest. He had a few pounds in the hank, and dreAV out £9 10s. Of this amount he paid £8 2s to Mr. Finn, Avhich included the bankruptcy fee, £6, and the rest he used for IKing on. Mr. BroAvn: What about the organ you pui'chased? The bankrupt said that he paid £ls 12s 6d for the organ. It belonged to his wife, for it was purchased out of money she saved from the housekeeping money. It vras being sold to a Mrs. East. He had obtained a barp from a traveller, and the purchase price was £2 19s 6d. He bad paid 5s on it, and then told the traveller to take it back, but he said that if the bankrupt could not pay for it he could keep it. He had a bicycle, on which be oAved £2 10s. Mr. Coleman said that when the house Avas purchased it was agreed that Jones should the balance, Avith the exception of £SO, for which amount he was to give a promissory note. When he came to complete it was found that Jones had no money except the deposit, which he had borrowed. The sum of £3OO was borrowed on mortgage on the property. In reply to further questions by the Assignee,'the bankrupt said he had to pay a good deal in doctors’ bills. He was in a lodge, and when ill was alloAved £1 per week, a doctor, and nursing. The Assignee: Your Avife’s illness never cost you very much, then? The bankrupt said that he had been saving up money to meet his liabilities, and had put it in the Post Office, but later lie had to draiv all out but ss._ Mr. Coleman suggested that the bicycle and organ should be included in the assets of the estate. The Official Assignee said that he thought this could be done. He did not think that Jones should have become bankrupt.' He should have consulted his creditors before filing. The £9 10s he drew out of the bank could have been used to pay the interest. The money should have been used to pay his debts. Mr. Brown: Didn’t you say you would shoot or throttle me? The bankrupt: I was annoyed because you pressed me for the money. Mr. Brown: If I had you on the beach by yourself I would show you whether you Avould throttle me. The bankrupt said that it was a dirty action for Broivn to sue him. Mr. Brown: You say it is dirty when a man is after his oavli. It was my own money I was after. ’The Official Assignee remarked that he did not want any talk like that. Mr. Brown said he only lent the money because he thought the bankr rupt and bis wife were good people, and he AA’ould get it back. A working man going bankrupt ought to be shot. -The bankrupt remarked that he wished Brown had never come near the place. Mr. Brown: You invited me there. The bankrupt: I did nothing of the sort.

Mr. Brown: All right. I will se& whether yon will throttle me after this business is over. I had to work hard for that money, as you know. The Official Assignee said that he would have a look at -the furniture and advertise the sale of the bankrupt’s equity in the estate. Mr. Coleman agreed to this course, and the meeting was adjourned in order to allow the Assignee an opportunity to carry out his suggestion.