BANKRUPTCY MEETINGS.

Gisborne Standard and Cook County Gazette, Volume III, Issue 379, 19 November 1889, Page 2

BANKRUPTCY MEETINGS.

A.• GRAHAM’S ESTATE: DISCHARGE UNANIMOUSLY RECOMMENDED.

An adjourned meeting of creditors in the above estate was held yesterday afternoon, there being present: Messrs Crawford, Adair, Townley, Scott, Hamilton, D. M. Orr, W. Graham, Johnston, Stubbs, Finn, and Muir.

Mr Croft said that after the previous meeting he had discovered that it was compete: t for the majority of creditors to allow the debtor to have hie furniture, and therefore there was no necessity to confirm tbe resolution passed at the previous meeting. However ;he resolution was put and unanimously agreed to. Mr Graham, after thanking tbe creditors for their consideration, said : I see a good deal has been said about something I said—or was reported to have said—at the last meeting, as to tbe reason which induced me to go into the House. I scarcely know exactly what I did say, as I was considerably upset when I made the statement. I didn’t mean to convey any such idea as has been twisted out of what I may have said or intended to have said. What I intended to have said was that one of the reasons that induced me to stand for Parliament was, that I thought that I could be of considerable benefit to the district at large. The Assets Company for whom I had been acting in the matter of getting their titles fixed, I had had considerable experience in various ways, and of the native land Acts, and knew the subject intimately in all its different phases. 0 I never intended to have said—in fact nothing was further from my intention—that I went into Parliament to make the Assets Company's titles good, or by any influence I had with Government or in any other way I got any of their titles fixed up which could not have been done it I bad not been in the House. What I took credit for was in assisting in the general legislation that was passed. That really was all that I meant to convey. I see from articles in different papers which, have bean called to my attention that what I acid, or intended to say baa been twisted in a very different way, I hops that whoever sends the Prase Association telegrams away will take care my explanation is sent, It is probable that just a little politioal capital is attempted to be made out of it, but if eo I would be sorry to have tbe imputation oast on anyone, or that anyone should be able to say that my being a sup. porter of tbe Government should have enabled me to do anything in reference to the Assets Company's titles, which could not be dons by anyone not in the House. I can assure you of thia, and I particularly call the attention of the reporters present to it, that nothing was done except to benefit everyone In a general

way, Mr Finn said he was present and heard what occurred, and he understood that what Mr Graham meant was legislation in a general way, He certainly did not understand him to mean that he went into the House to promote the interests of the Assets Company—he went in to promote the interests of the whole people. Unfortunately the case of the Assets Company bad been mentioned. Mr Hamilton and Mr Johnston affirmed that Mr Graham bad been misunderstood. Mr Finn : Yes, it was a misunderstanding. The subject then dropped. Mr Hamilton moved, and Mr Orr seconded, tha; every facility be given for Mr Graham to get bis discharge. The motion was unanimously agreed to, and the meeting closed.

J. B. SCOTT’S ESTATE: THEY LET HIM "WITHDRAW” IT.

An adjourned meeting of creditors in the above estate was held yesterday afternoon. Present: Messrs Johnston, Matthews, Moore, Porter, Adams, Lewis, Page, Allen, Friar, Score, Dunlop, Clarke, Bourke, Adair,Nolan, Skeet, Craig, Townley, Finn, and Dr Pollen. The Assignee reported that he believed the offer of tbe debtor would be to tbe advantage of the creditors, as it would give from Is 3d to Is 6d, while the assets would be required to pay off the preferential claims. He then detailed what action he had taken from the time of the bankruptcy, which showed that he had received and spent £370 to £330. Among those debts mentioned as bad were amounts of £62, £57, £42. The statement showed:— Good debts, £75 ; doubtful, £65; total : £l4O. Bad, £l4O. Mr Johnston proposed that the previous resolution as to the £l5O be confirmed. Mr Moore seconded. Mr Skeet (bankrupt’s solicitor) sail ha had received information that unless the £l5O were accepted that day it would be withdrawn. In reply to Mr Bourke, the Assignee said that the resolution meant, if passed, to annul the bankruptcy upon his signing the deed. Mr Matthews said he thought they either ought to accept the amount, or else say they would not accept it because they thought the debtor should make a better offer, and the question would arise whether it would be worth their while to run the risk of losing the £l5O for a mere shadow. They could not compel him to pay more; the offer made was a voluntary one. They ought to accept that unless they were prepared to force him to give more.

Mr Score did not feel inclined to accept the £l5O. He thought it a paltry offer and an insult to the creditors : rather than take the estate out of bankruptcy for that he would prefer to let matters take the usual course. If tbe debtor had to suffer, it was hie own fault. He considered that every one who voted for the motion would lend their hand to [Mr Score allowed his hearers to imagine what he meant.] Mr Craig aaid that if they could afford to lose a large amount they could afford to reject the offer, so as not to encourage such bankruptcy affairs. Mr Matthews said it was the result of giving credit, and rejecting the offer would do no good. Mr Craig said Mr Scott was In a first class hotel ih Auckland, and he supposed he would ba oomlug down here in a few days and flashing round, Mr Johnston : Just what I told you, Craig, Mr Lewis said they would have the £l5O. Mr Craig : Would you be any better off ? Mr Lewis: I would not be worse off. Mr Craig said if the other creditors would not speak out ho would. Mr Matthews repeated the story about the man who to spite a Bank burned a lot of the Bank notes. It appeared to him that soma of the creditors wanted to aot in a like tqanqer. Mr Score could not see how the application could be made to this case—in a bankruptcy like what they then had to deal with. Mr Matthewson said that was a matter of opinion. Mr Clark said it was a matter of generosity. The bankrupt intended the £l5O should be well spent in offering it to them. If it was worth that to Scott to give the argument could ba applied in another way. The Assignee said Scott’s first offar was £lOO.

Mr Clark said if it was only worth what was offered they should let him keep it. Mr Score: Let him " withdraw ’’ as he Mr Dunlop said as one of the largest creditors he would not encourage this sort of thing (allowing Scott off that way.) Mr Craig aaid he had no personal animosity against Scott, but he did not like this sort of thing going on. He was worse off than when he came ln ; o the place and he did not drink, gamble, or flash about. Mr Score said it they examined the proofs that were in and with those likely to oome in they would find that the' elghtsenpenbe would come down to nlnepenoe. Surely they could live without that! In reply to Mr Matthews the Assignee said he could get the deeds sent to Auckland and signed by the debtor in about a fortnight. The money was then In Gisborne, but the deeds would have to be signed. The motion was then put, the division being as subjoined. As all those who were absent count as voting against, their names arp included in the list as though they had actually voted. FOB T. Adams 1 Bradshaw's Guida H. E. Johnston G. R. Moore H. tiswis, Beni: New Zealand

AGAINST. D. Arkell J. A.llen W. Adair Brown and Smail! J. Craig J. Clark Christchurch Meat Co. Daily Telegraph Dunlop and Bourke J. Erskine E. H. F aton J. E. Foster W. H. Fenton Graham,Pitt & Bennett H. Harris Hatton and Score W. Hennessy J. A. Harding Johnston and Co. Kennedy and Co. W Maude W. McArthur McGavin and Co. Nathan and Co. Dr Pollen Poasemske D. Page A. Parnell Sharland and Co. Speight and Co. Sargood and 00. S. Stevenson Teat and Friar J. Townley J. Whinray Wilsons and Horton A. Muir Values I Against, £1465 ; for, £327.