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LAW C OURTS.
INSOLVENCY COURT.
(Concluded from yesterday.)
In re "William .Randall.—A final hearing.
Mr. Bakewell for tT»e insolvent, and Mr. Bruce
for the assignees. The following is the' Ac
countant's report:— "Liabilities — unsecured
creditors, £1,774 14s. 9<£.; wages creditors, £34
■6s. 3d.-; mortgage debts, £4,80119s. Id.; total,
£6,611 0s. Id. Assets—Sundries available for
distribution, £1,104 9s. lOd.; do. deposited as
security, £130 ; mortgaged property say £4,490
9s. lid.; total, £5,724 19s. 9d.; deficiency,
£886 0s. 4d. The accounts go no further back
than January 1, 1866, when the insolvent's
position is tolerably defined; before this date
nothing could be made of his accounts, but his
subsequent transactions are in a great measure
traced. The causes of insolvency are—First,
depreciation in value <of his real property;
secondly, the partial failure of this year's crop,
and being prevented from realising it himself."
Mr. Bruce examined the insolvent at some
length respeeting the state of his affairs and
the causes of his failure; also with reference to
a bill of sale of his growing crops, mares, and
horses, which he had given to Mr. T. G-. "Water
house to secure £700 overdue interest. Mr. Bruce
charged the insolvent with having contracted
a debt of £582 3s. 6d. without having any rea
sonable or probable expectation of paying the
same at the time it was contracted. He ad
dressed the Court in support of the charge.
Mr. Bakewell replied on behalf of the insolvent,
and asked for a first-class certificate. His Honor
was of opinion that the ojharge was not proved,
hut he thought the insolvent was not entitled
to a first-class certificate. He should award
him a second-chiss certificate, and as there were
several circumstances in the case in which he
thought the insolvent was not blameless, he
ordered the certificate to be .suspended for six
months.
In re Walter D. Kingsmill.—A final hear
ing. Mr. Bagot for the insolvent, Mr. Way for
the assignees, and Mr. Sandford for two secured
creditors. The following Accountant's report
was read:—" Inabilities — Sundry creditors,
£742 2s. 4d.; assets available for distribution,
£220 7s. 6d. ; deficiency, £52114s. 10cL Against
which two of the above creditors hold the in
solvent's order against money in the Irish Con
sols, supposed to be about £160; but it is un
certain if the money is actually within the in
solvent's control. Mortgage debts, £1,393 10s.;
mortgaged property, valued at £1,000. Esti
mated deficiency, £393 10s. Memo.—The second
mortgagee holds the insolvent's draft for £290
against money in the Irish Consuls, which it is
supposed will be paid. The insolvent offers a
composition to the unsecured creditors of 6s.
in the pound (3s. in cash, and 3s. in approved
"bills at three months), and, judging from
the estate disclosed and probable contingen
cies, I think the offer is a reasonable one."
The insolvent was briefly examined by Mr. Way,
after which Mr. Bagot presented a petition
signed by the requisite number of creditors
praying for the annulment of the adjudication,
and accepting a composition of 6s. in the pound,
half payable at once in cash, and the other half
:in bills at three months. His Honor granted
-.the application, with a proviso that the secured
•creditors should share in the composition if their
:securities did not realize what it was thought
■rthey would.
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