The Sun.
London, England, 1841-03-29 00:00:00

POLICE

" Exeter, March 3, 1840.
" Dear Sir—Since I last had the pleasure of seeing
you I have been to London purposely to examine the
affairs of this Society, and I can assure you that the re-
ports issued against them are wholly without foundation.
The principal part of them are gentlemen living on their
own property. The following is the result of my inves-
tigation, which must surely satisfy the minds of any
parties insured with them of their respectability :-
63,000/. in the Bank of England, to meet emergencies.
160,000/. on mortgage property in London, at 7 and 8
per cent.
40,000/. in reversionary property.
120,0001. on different funded securities.
3 0001. in the Bank of Scotland.
30,000/. on mortgage seourity in that country.
10,0001. on landed security in that country.
And their paid up capital is 37.5,000/.
Now, Sir, with these facts before you, I shall leave
you to form your own judgment, at the same time, we
by no means wish to deprive you of the benefit you
expected to receive ; and although you have no moral
right or claim to your policy by your allowing the time
to expire, still, if you wish to renew it, Mr. will
grant you the receipt.
" I am, Sir, your most obedient servant,

Now (continued Sir Peter Laurie) there appear the fol-
lowing names in the prospectus, as trustees and ma-
nagers of this Company, which is said to possess valu-
able and exclusive privileges in regard to the profitable
investment of capital :
James Alexander, Esq. Alfred T. Knowles, Esq.
George Anderson, Esq. John Lloyd, Esq.
Thomas Bedford, Esq. H. R. Perkin, Esq.
James Drummond, Esq. Thomas Price, Esq.
Samuel Eyre, Esq. William Reid, 8,,q.
Robert Fergusson, Esq. Edward W. Taylor, Esq.
Thomas Hope, Esq. John Wilson, Esq.
William Hole, Esq. Wm. Whittaker, DI.
and I have ascertained that not one of these Esquires
is in existence except Allred Thomas Knowles, Esq.,
and William Hole, Esq., who is the secretary. I have
been given to understand that Mr. Knowles actually
waited upon Sir J. Reid, the Governor of the Bank of
England, and requested him to allow himself to be
named Director of the Company, stating at the same
time that he could command a number of votes at
Dover. In fact, it is no wonder that my ignorant
countrymen were imposed upon by the manoeuvres
which was practised, for amongst other allurements, they
sent down to Glasgow a number of the most splendid
fire-engines ; but I have learned that a vast number of
people of fortune, who were anxious to get the most
they could for their money, were so attracted by the li-
berality of the scale as not to see that the game was a
desperate one to those in whose hands their hard cash
was to be deposited, and that a vast number of
thousands have been swamped without the least noise,
exposure being considered discreditable.
Mr. Hobler said he apprehended that there were
other associations, the flashy appearance of which im-
posed upon many, and the stability of which was not
much more secure.

Mr. Marshall observed that there was perhaps at
present greater caution necessary than usual in guard-
ing against the impression made by elegant buildings,
as they were rising every day all around in the neigh-
bourhood of the Rink.

Sir PETER LAuazE—Most certainly there is. lam
extremely glad to hear that Mr. Labouchere has given
notice of his intention to move on Thursday next for
the appointment of a Committee to inquire into the
conduct of Joint Stock Companies. It is right that
such an inquiry should proceed, as it were, under the
sanction of the Board of Trade, and I shall take the
liberty of suggesting to the Committee the propriety of
ascertaining from the several insurance companies the
following intelligence, and demanding the following se-
curity for the public :—I shall propose that the number
of the insurance companies be stated, that the number
of the insured, and the several amounts for which they
are insured be particularised, together with the average
ages of the insured, and that they be valued by the
Government tables, and the companies be called upon
to show the assets they possess to meet the demands
upon them. A regulation to such an effect would be
attended with the best:consequences, and I trust that
the Committee will proceed resolutely to prevent the
repetition of such atrocities as have been committed by
the Independent and West Middlesex Lite and Fire
Assurance Company.

MANSION-HOUSE.
After a charge against a man of the name of Bridge
for assau;ting a Bank porter, had been disposed of.
Sir PETER LAURIE took the opportunity, as there
were three or four of the principal officers of the Bank
present, to ask some questions and make some observa-
tions relative to the Independent and West Middlesex
Assurance Company, which had caused so much ruin
amongst those who had been rash enough to place con-
fidence in the fellows who-bad concocted that scheme
of robbery, and had impudently published the Bank of
England and Coutts's bank as the places at which they
kept their accounts, for the purpose of more effectually
blinding their victims.
Mr. Marshall said it was very true that the mana-
gers, as they called themselves, of the Independent
West Middlesex Fire and Life Assurance Company
had opened an account with the Bank of England, but
he saw that the concern was one with which the Bank
could not be justified in having anything to do, and
insisted that the account should be closed, which was
accordingly done. The public were certainly deeply
indebted to Sir Peter Laurie for having so complete'y
exposed the transactions of the persons who were con-
nected with the Company.
Sir PETER LAURIE-I am glad to find you, Mr.
Marshall, and Mr. Smee, the comptroller of the Bank
of England, are here ; for I have received from Mr.
Anderton, of Bridge-street, Blackfriars, a letter, which,
he informs me, was written by the Exeter agent of the
Company, and which shows with what energy the in-
dividuals called their agents endeavoured to advance
their interests,—Messrs. Hole and Knowles, who have
the principal merit of getting up the delusion. I must
confess that I was never more astonished than upon
perusing it. It was addressed to a gentleman who
wished, in consequence of the reports he had heard
to have nothing more to do with the Independent We
Middlesex Life and Fire Assurance Company :
" West Middlesex Insurance Office.