The first meeting of creditors in the estate : #£ William Smith, storekeeper, was held : yesterday afternoon, Mr ftcaife, the Peputy ! Official Assignee, presiding. Mr Harley ' appeared fpr the bankrupt. ' The Assignee sa^d that the book debts, j valued at £100, were not likely to tyring in ■ more than £30 or £40. J The Doputy Official ABsignee then examined ' the bankrupt, who deposed { lam a store? ' keeper, and I have been in business nearly three years. I was previously a laborer, and ' had worked for several storekeepers. I had ' do oapital but my furniture, and that was ] Worth £25. I arranged with Puddicombe to * work tu§ business for him for twelve months * pp £2 a week, and he took the responsibility. * At tb,e end o! twelve months, during part of x whioh .tima my name was over the door, j?er|j6pß ■$ ojc $ .^onjhß, Pudclioombe ome <

back, but did not examine the books or settle up, but merely tried to sell the business and store. He then owed me £11 or £12. Even tually be sold the business to mo for £270. I did not take stock, but don't now think that ;it waß worth the amount, I gave a bil ( of sale over everything for tbe £270, hors* , cart, harneßP, aod all. This was Pnddi uombo'a price, but I don't know whether it was a fair one. The under-standing between ub was that I should oarry the business on &>' usual, und give l J uddicotabo the bill of st'le for his security. I carried on the business and managed fainy well, though I had porno bad debt**, und a mare tha** o -si £I*4 di'd. I paid nearly £17 on Puddioi-unbe's »*-_count for tiie harness and on account of the cart, and the'-e were both in the bill of sale, also a number of accounts due for stock which I bought of hi id. ' At the end of the year the stook was smaller and the book debts were larger. I carried on the business until about two months ago, and went backward all the time. I wrote to Puddicombe telling him he must do

something in the matter about 18 months a,go. His reply was that he must have his money. 