CO129-431 - Governor Sir May - 1916 [1-2] — Page 415

412

Jadt eieettinumŋ you to możniqo add ni ‚əfqioning aniyfzebru *ibro (qu-anakW) aeimona neifi" add to eldamerq edt at besserque mt eba ed blvoda molnivong Jødt tæibeqro si JI" :ziv "þ[§[ sonon- -9ng of rebro at aeimera nella down to stiotla edit to qu gaibniw edt

Jadł si zaini¡'MON BET

Vintil settime) yn sioide eiqioning widt vi di .caðdimsoð ym Yo „barreado gated ton si antado iem ed blonde sojabiuphi and Jeegara Jon of ve‡ðkummeðƆ ŢÃ

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on ad od se ge bluar dĮ „obest nearted no zaw eyew of bedovident ym mi dòiw JLoeb ni Joeque siɗĩ von ob of emniyong nåede to trag broda sotabiwoil edə dəszawa ob youá đưổ,adab ta nejšel odemquou add mixed mort gainierter yď somulîni baa shext cauried Južnas ♬ ber amit gitcbiupil to snoitaɣilde Imol sát sidans of aqada Lordaa

„begradosib od ot

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To esso ent mowded neidonitsib an see mɛo seźdźmeð vil

Jnavlosni yllemal jed of tanque Te ede ustil bødabžupil esodd

squrtined to astatue adi hae

„10 Jnemysq edi aza adoejdo zaitanksab adi sano dass ni

ybeeqa ədr hm erodibowo „to atestejal aał to noktastorg and bas

and abou aanzoed .enogung sždá tað sjauns add to noitanijeÐT tadt abiatuo stessa esilear of sidismoq ni Ji neomİEM:UTİO JOSSSTq odd moxi apoi viswoirodom eza jesedvanie bedzamas sa „dolár „ymolo noidomitath and jnisam vot noraes on sen se‡‡kana) ya jaraḍahimpi to wovel ni astuzaqo di sonia ylleiosque sadde♫ zwoỵ kì bədəɔibai tiad lo steeretai est ni a Ila da Joc bem umiit betabiupil odt how to ablunki edt at benabmode ylloder swadi yanż do žám muotibamo

JÚ ZMENTED TOÙ edt et

Deney wol odni sevibandið abivih aridt betabimpii adr

.01

.dnaviosoi yilmọi yfzsolo mati .(1)

.InoiteamIdong ni youvion Lool enode arti¶ .(S)

biequu gniduire ddiw Jud toevlon yilnool amti¶ .(8)

.a10’iha1o jaidrixe on itin dnevios ylleool smrtit .(*)

podqreland tomIqionizq adi aaalo jexit ont abinger ĐĂ

Jdzuo

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ought to be applied to the liquidation without hesitation, particu- -larly as regards secured creditors; and assets of all descriptions ought to be sold without restriction to enable creditors to be paid as much, and as soon as possible. Cases exist where larg sums of money are tied up in the hands of Liquidators because they are not told whether they are to deal with them on principles of solvency or insolvency.

*10

The bulk of the assets in this class (other than money) are in the hands of secured creditore and means exist of compelling them to deal with their securities with the result that no dividend can be declared,

12.

As regards the second class the principles of Bankruptcy ought also to be applied and for reasons similar to those existing in the case of the first class and all available assets should be sold. The solvency of these firms is largely problematical and depends on many factors some of which may not fully develop #hill hostilities

cease.

13.

In the case of class three it would not seem necessary to apply the principles of Bankruptcy but the assets of all descriptions should undoubtedly be sold without delay.

Thy should creditors be kept waiting in these times, be- -cause it is difficult to sell the goods relating to their credite of because secured creditors will make no efforts to realise their security when other saleable assets exist ?

My Committee desire me to point out that, almost without exception, the liquidated firms are notoriously possessed of assets and monies outside the Colony and are in a position to discharge their local debts if they wished to do so but they, equally notoriously, when leaving the Colony adopted the attitude that since the Government has taken over their businesses here the discharging of their local obligations is the affair of the Government and not of themselves and they washed their hands of it accordingly. 14+

In all the first three classes the services of the European and native staff including brokers and compradores should be dispensed with to the utmost extent possible.

15.

זיו – –