IN BANKRUPTCY.

Gisborne Times, Volume XLV, Issue 4009, 16 August 1915, Page 2

IN BANKRUPTCY.

ESTA'I'E OF HAMILTON BEATTIE. B AN K R UPT'S iSTA'TEMENT. 'The following statement has been iiled with the (Miicial Assignee (-Major A. G. Beero) by Hamilton Beattie, of Waerenga-a-hika, baker, why has been adjudged bankrupt-; "We took over the bakery business from June 1, 1914, from J. 'Erskine as •Soinerton and Beattie. 'The agreement ran as follows: 'To pay cash LIOO deposit, which was borrowed money, and a mortgage taken on stock, trade and chattels for the remaining £3OO, in which we were allowed three years to clear off, with interest when two months elapsed. Under mutual agreement we dissolved partnership, giving Soinerton £3 10s per week as wages as a baker, also his wife Cl per week as housekeeper for the above months, ami from then the business was carried on under my own name. About the 7th January the promises were burnt to the ground—dwelling house, shop and oflices —and their contents, while. 1 was away on my round delivering bread, and the remit was I stood with nothing, only what I was wearing, and on the second night, under eir umstances unknow to me. Hie bakehouse, Hour store, and the men's whares, with, their contents, were burnt to the around also. .Included in ibis were the takings ot two of the drivers for tile da--. Owing to the rising tendency of the prices of materials required for the business, f sougnt to lay in a good stock, which, of course. 1 lost, as practically nothing was saved from the lire, ami what was saved the insurance company valued at £2O. 1 was compelled to erect- sleeping quarters .for the men at a cost- of almost £'so, which meant that they had to hoard out, which also meant- a large outlay and no return, and being left without a bakehouse for almost three months 1. was obliged to purchase my ’oread in town at a price which meant a dead loss all round during that time, and, again, it was six months beloiv they erected the shop and dwelling, which involved loss in the trade ol tile shop, which 1 have not since recovered. 1. have also had the renewal and transferring of leases on two occasions since taking over the business, meaning that I hail to pay all expenses. i lie insurance money, which I received amounted to £365, of which Airs F.rsicine claimed L'2oo. the balance of mortgage due to her. After furnishing the bakehouse and dwelling house, and providing stock in both, it left me little or nothing to trade oil, which compelled oio to seek credit, and owing to the upkeep of horses, etc., and the pressure oi some of my creditors, and the heavy expenditure involved alter the lire. I am-compelled to iile. -Vs regards the mortgage, although J had three years in which to pay it off- by agreement, Air Erskine claimed it in the inside of eight months. On Alarch 2-> I met with an accident which compelled me to put- another paid man on my cart, and also had the doctor's expenses to meet.’’ The schedule is as follows: —Liabilities: Unsecured creditors £558 11s (id: assets: Stock in trade £3O, Book debts (£270) estimated to produce £'2so, furniture, etc. £3O, sate £lO- - (goodwill of lease of bakery, half-acre and buildings leased iron; Mr Erskine at £'4 2s Od per month. £IOO. and m-u where C-iO) ;Cl->O. surplus from securities £2O; total, L IDO ; deficiency, £6B Tls od. The secured creditors are; AY imam Beattie, James Beattie < (s.enr.) and ,fames Beattie (juur.). of Waerenga-a-hika-. 'The value of the security is £2OO and amount of debt £IBO. The property .comprised in the security is: Three baker's carts, 1 two-horse waggon, 6 horses, 6 horse-covers, 3 single sets of harness, .1 set- double harness, and fittings and plant in bakehouse. The list of unsecured creditors is ns follows • .-’-Common. Shelton and Co., merchants. £lB2 7s 7d • Y.Z. Flourmi Hers’ Association. £ll -> 18s; Bond and Bell, merchants, Auckland, £43 jo,, ILL Henry Berry, merchants, Auckland, £23 2s Id; l’.B. Herald Co., Ltd., £2 2s; Kia Ora Dairying Co.’ £8 19s 8(1; Graham and Krebs, coae-hbiiilders, £6 -is; 1:1. J. Bushnell, stationer, £3 2s 6d ; -I. II - Ormond, eoaehlmikler, £4 15s (id; Grillon and Sons, mi'roll ants. Nelson, £l2 Us 9(,T Harry Algie, grocer, £7 Lis 7(1; Rougher and Warrington, £4 ss; Gisborne iSheepfa.rinors’ Frozen -Meat Go £lB tls, (xl; H. Currie, larmeix ("i ds 8d; F. Albrecht, tinsmith. £3 15s 6(1 ; Chrisp and Coleman, solicitors £3 19s 6d ; D. J. Barry, brewer, £2l I 5 s 6d ; ■ \V. O. Sheet-, builder. £26 Us; C Brown, farmer, £4B; Jas Erskine, baker, £B'ss (rent); H Craig, carter, <'7 Ids (wanes); Joseph Gordon, linker, £8 15s ("wages); R. MVCuHough, carter, £6'ss Id (waged; J. McFarlaiio, fanner, Ormond, £7 -Is.