382

NEW ZEALAND GAZETTE.

Looking at the occupations of the bankrupts, it
will be seen that from four classes of the community,
namely,-hotel keepers and publicans, storekeepers,
farmers, and miners, are drawn over three-eighths of
the entire number of persons who have become
bankrupt during the last two years. The remainder
comprises one hundred and twelve other callings
or occupations, from "agents," numbering twenty-
six, to bailiffs, bookbinders, &c., (comprising thirty-
one different callings,) in each of which there has
been only one bankrupt.

As it would scarcely be fitting in this Report to
deduce from these Returns a comparative estimate
of the commercial soundness of each Province, the
Accountant has refrained from doing so; but he
cannot leave this part of the subject without
noticing the fact that, although there is a large
increase in the number of bankrupts in almost
every district, yet the gross liabilities are propor-
tionately not so great as they were during the year
ending 30th November, 1868.

It is, however, greatly to be regretted that there
should be, in a Colony like New Zealand, with a
population of under 250,000, a larger number of
Bankruptcies annually than there is in Scotland,
with a population of over 3,000,000.

The last Annual Return I have received from the
Accountant in Bankruptcy, Scotland, shows that 452
Estates were sequestrated; while in this Colony
there were, during the year ending 30th November,
1869, 520 persons adjudicated bankrupts. This is
the more to be regretted when it is considered that
of 821, the total number of bankruptcies for the two
years ending 30th November, 1869, there were 360
cases in which the liabilities did not exceed £300,
while the assets recovered are merely nominal.

The results are reported in the following order :-

I.

The number of orders of adjudication made
during the year ending 30th Novem-
ber, 1869, has been ... ... ... 520

Whereof there have been made by the
Supreme Court ... ... ... 391
And by the District Court ... ... 129

So that during the year 75 per cent., or thereabouts,
have been made by the Supreme Court, and 25
per cent., or thereabouts, by the District Courts;
and the whole shows an increase in number over the
previous year of about 75 per cent.

The following is a note of the adjudications made
during the year, classified according to the Provinces
and Districts to which they are applicable:—

II.-General Account of Bankruptcies in Dependence
at 30th November, 1868.

Number of bankrupt estates wound up by
division of funds during the year end-
ing 30th November, 1869 ... ... 36
Ditto ditto by discharge of trustees with-
out dividend, no assets ... ... Nil.
Ditto ditto by composition ... ... 3
Annulled ... ... ... 3
Remaining in dependence at 30th Novem-
ber, 1869 ... ... ... 778

III.-Results of Adjudications wound up by Composi-
tion during the year ending 30th November, 1869.

During the year there have been settlements by
composition in three adjudications.

The highest rate of composition reported is twelve
shillings and sixpence in the pound. The lowest
rate of composition reported is two shillings in the
pound.

IV.-Discharges in favour of Bankrupts.

The number of discharges granted applicable to
this year is 490. Of these discharges three followed
on composition settlements, and the remainder (487)
were granted without composition.

In thirty cases the final discharge was suspended
for periods varying from fourteen days to two years.
Awaiting discharge, 153.

V.-Discharges in favour of Trustees granted during
the year ending 30th November, 1869.

There have been no discharges of Trustees in
Bankruptcy reported during the year.

VI.-Proceedings of Accountant in cases of complaint
against Trustees, in terms of Section 227.

Several complaints having been made regarding
the management of estates and the conduct of
trustees, the Accountant, at the request of the
Government, made a visit of inspection to the various
Provinces of the Colony.

In one Province the provisional trustee, being also
sole trustee, had to be removed; and the trustees in
other Provinces whose accounts were examined, were
directed to keep books of account in such manner
as the Accountant hopes will remove grounds of
complaint for the future. An alteration was also
made by which the trust funds in each estate would
be kept in a separate Bank account and only applied
to purposes appertaining to the particular trust.
Prior to the visit of the Accountant, this unfortu-
nately had not been done, and considerable confusion
had been the result of making common cash of funds
derived from a large number of separate estates.

Appended is an alphabetical list of persons ad-
judged bankrupt to the 30th November, 1869,
together with a tabulated statement showing the
condition of every estate.

GEO. BRODIE,
Accountant in Bankruptcy.

Office of Accountant in Bankruptcy,
Dunedin, 7th June, 1870.