The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1902-05-03
PETITION IN
BANKRUPTCY
DIR. NICHOLS ASKS RELIEF FROM
DEBTS AGGREGATING
$4,000
WANTS PROTECTION OF NEW EX-
EMPTION LAW.
Accounts with Business Men of All
Sorts lin Honolulu Amounting to a
Large Sum.

a remarkable petition in bankruptcy
was filed this morning in the United
states District Court by DR.. AL
bert e. Nichols the dentist His
petition sets forth a list Of debts
aggregating about $4,000. with
practically no security nor assets. The
debts are many of them open accounts
with well known local firms, among
whom DR.. Nichols appears to have dis
tributed his patronage quite impartial
ly.
The petitioner claims as exempt un-
der the new Territorial law, his office
fixtures TOOLS etc, valued at S4OO, also
his personal property at home, value
unknown. Among the assets are
few horses, a buggy, COW and $50
shares of stock of the Wahiawa Sugar
Company. There is also a life policy
for 500 900, but it is hypothecated for
S794 and the petitioner says that it's
surrender value is unknown. Accounts
due the petitioner amount to about SiOO
The largest creditors are j. NJ. Whit
ney and the A. Harrison Mill Company
Nichols owes $7134 to Whitney, in notes
The Harrison Mill Company holds five
OF his notes aggregating $S666.25 p. L.
Weaver holds a chattel mortgage on
Nichols office fixtures for 1851. Some
of the sme -ier debts are judgments Sc
cured against the petitioner, others are
running accounts with local firms. The
Hawaiian Electrici Company is in the
list for about $500. Whitney and Marsh
for $500. ]. N. Shafer for $1,2O7.55. Other
accounts about the same are with the
Metropolitan Meat Company, Henry
May and Company the Mutual Tele-
phone Company, Levers and Cooke,
Kinney, Ballou and McClanahan, Rob-
ertson and Wilder, and many other
mercantile stores. The Volcano Stables
Company of Hilo has notes for $16S.
Local newspapers are all in the list
and local haberdashery stores, supply
stores, etc, were not neglected. In
fact the petition makes a very general
hit at local firms of all kinds and an in
teresting time may be expected when
it is heard, if the creditors take any
action. DR.. Nichols was good all
round customer and Hawaiian business
men generally will have occasion to
nOte his loss.
The new Hawaiian exemption law
passed by the last Home Rule legisla-
ture is referred to in the petition and
the question of it's application to a
bankruptcy proceeding in the federal
court will probably be raised. Under
this law a physician is entitled to keeI
one horse and harness and vehicle. all
his instruments, office furniture. books
desk, typewriter, etc, used in his pro-
fession, all necessary household goods
and furniture, also wages, if any are
due him, to the extent of $1,000. The
accounts due the doctor may be counted
in this class.
DR.. Nichols is well known locally. His
offices are at 1854 Alakea street, anj
his home is on KeeaumOku and NOwe-
wehi streets. He was at one time in
terested in Oaa plantation. His opera
tions in WahiaWa resulted in heavy
losses, while the petition shows that al
other sugar properties he may have haC
including Olaa, have gone in the genera
crash. Mrs. Nichols left for the coas
. on a recent steamer.