The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1882-10-04

ard that bis rcal estate was all mortgaged.
lie sold the unsecured claims against Spencer,
amounting - SIS, goo for 81 goo Il appears
by records Of this Court that Mr.. Adams, on
the 9Th Of August, iS74. 6led petition 10
have Mr.. Spencer declared a bankrupt, hut
before adjudication, the proceedings were dis
continued. Mr.. Adams saws that If the con-
trac. labor could have been kept, the value Of
ihe plantation would haye been augmented,
and also god manager would have made 4
great difference on the value Of the property.
Mr.. ) {. Allen, testi6eS IN substance that
from bis knowledge OF Mr. Speucer's property
derived from his business connection with
him ard agency for him for from II to Is
wears, be is Of the opinion that the amount Of
mortgages covered the full value Of the prop
erty and that Mr.. Spencer was not solvent
His affairs were growing worse constantly
while he was agent Mr.. 6. ". NGcfarlane
whose knowledge Of Mr. Spencer's affairs
dates for 1874, says that the place was mort
gagged for lis full value in 1875 and 1915.
The mortgages filed in evidence are, one in
favor Walker & Allen, dated 29lh April, SO,
for 100000, and another dated the lst Of July,
ISL, (which included the amount Of ST, 900,
and which was finally foreclosei in 1850
The Indebtedness Ct I. Spencer held by Or. j.
by the Master in Chancery 10 be Sl5S. O4SlS,
but by an agreement between J. s. McGrcw
and 7. Spencer, the former agreed to take
S25,750 for his claim, IN certain contingencies,
and this sum, interest on same and tie ad-
vanccs by Green, Macfarlane s. Co, in all
amounting TO SIS ,399.GS was the amount
which the decree Of foreclosure called for
The plantation sold for $50, 900.
Although there Is evidence that would well
support the allegation in the bill that Spencer
was ins5lvent in 1870, SO far as the land Of
Waipunsllci is concerned, it Is uuimportant:
for it was 10; until lS76 that the land was
transferred las set forth iu the bill, aud as the
papers filed Substantially to Thos Spencer ir.
As appears by the answers Of C. y. Spencer
be never exercised ownership over this land,
did not pay for 1t, received no rents from IL,
and did not consider it as his property and So
II was not returned to his sssigueoS (wheu IN
solvent in ls7O), and that 7. Spencer il. (nor
any one in his behalf did not pay him any
thing as consideration for the transfer. l
must treat this land up 70 December 18th,
lsI6, as the property Of 7. Spencer and sub
jsct % the claims Of his creditors, aud il fol-
lows, I. Spencer being iusolveut AZ this date,
that this transfer to 7. Spencer jr. is not good
as against his creditors, represented by the
plaintiffs.
I consider now the purchase Of the land
called Hakoa, the particulars Of which are
given in the second bill The Royal Patent is
dated September 2eth, 1871. G. W, Macfar-
lane SAYS Spsncer's position financially was
little worse in 1877 than in 1876; and have
10 doubt he was then iusolveut. He says he
was insolycut then. in his answer to this bill.
But Spencer says that be paid for this land
81 ITO with money which he had in his keep
ing belonging to his ward; and that he took
the money to his book-keeper (who is now
icad), and received q plantation draft for the
amount drawn by HIMSELF. The plantation
hooks would show this, if true, and they are
not produced l think the burden was on the !
to produce them, if they bore out
bis statement.
Tie explanation OF the way money was I
for tins child is not satisfactory /.
10 me and the transaction is So colorado |
throughout that the most satisfactory proofs \
sh0uld have been ldduced by respondent, /
considering Macfarlaue's testimony on this |
point, and time was afforded him, from May |
Sd to June STU.
feel obliged to find in favor Of the plaintiffs |
IN both bills, and a decree accordingly will be 1
signed ca presentation. 1 consider, however, 1
hat 10th Of these matters could have been /
embraced in one bill ard award Gusts upon
Ibis assumption.
+ NJ Hatch for plaintiffs: \ 5 H5uwgll I
.5r respondent Thus. Spencer.
4. FRANCIS jun,
CHEF JaSica Supreme Court and ChulcaJr.
NnurIuTu limo 9th ISSa