The Sun.
London, England, 1841-04-15 00:00:00

~~~,

4ORNING EDITIONS

c. 6, and the 53d Geo. 111. c. 137, to show that'
present cases he W 23 entitled to costs.
Magistrates, after a short consultation, said that in
.!sent cases they would allow only the swallest sum
(mild cover the actual expenseE, and for this they coa-
-1 ss. in each case sufficient.
Court then adjourned,

THE INDEPENDENT AND WES T
MIDDLESEX ASSURANCE COMPANY.

The following account oftis villanous scheme was
handed to Sir Peter Laurie by a gentlemen in whosci
veracity that active Magistrate has the most perfect reli-
ance. It is to be laid before the Committee appointed by
the House of Commons to inquire into the stability of In-
surance Offices, and the writer is to give evidence on the
subject :
" The Independent West Middlesex Assurance Com-
pany consisted of the following persons :—.William Hole,
secretary and manager, declared a bankrupt on the 30th
April, 1827 ; Knowles, appointed assignee, paid no divi-
dend; George Williams, solicitor and manager, bankrupt
Dec. 25th, 1832, paid no dividend.
" James Devereux Hustler, physician and manager•, was
in the King's Bench Prison in January, 1835, in utteeilet-
titution ; took the benefit of the Insolvent Acs.
" Thomas Knowles, manager, bankrupt, 27th May;
1825 ; paid no dividend.
" George Edward Williams, jun., auditor, and, from
Oct. 1839, secretary
" William Whittaker. manager, brother to Mrs. Hole.
" John Wilson, manager, the porter to the' Company.
" The business being started, and the money freely
paid into the office, large sums were paid by Hole on be-
half of Williams, who at this time had various habitations
and several executions in the house ho particularly resided
in—this being at the time Hole banked in the Bank of
England—the cheques of which may be seen. It was
now agreed by the four first-named persons, who censti-
tuted the Company, to appropriate a certain number of
shares to each, for what they were pleased to call their
vested lights. This being done, each and all drew money
on account ,of the same, and thus arose their houses and
carriages and othe; things. About this time a singular
document was framed by the lawyer or secretary, namely,
that so many shares should be settled on the wives of
the four first-named persons, by way of annuity, to pro-
duce 1501. yearly to each. Hole, as things proceeded,
assumed to himself more command than was•
agreeable to Williams, who, having become more closely
connected with Knowles, on account of an expected matri-
monial alliance, between their children, took occasion to
accuse Hole of contemplating embezzlement of the money'
of the concern. This led to mutual recrimination, and
WA? finally :.rranged by a proposal on the part of Williams,
Knowles, and Hustler, that Hole should retire from the
Company, and receive for his shares, situation, lease of
house (which appears to have been his), and other interests,
the sum of 20,0001., with an annuity of 600/. a year.
This proposal being accepted by Hole, he retired at
Michaelmas, 1839, receiving the greater part of the
21,0001., together with a splendid silver cup and cover, as
a testi:no isl of his valuable services. From this period!
the affairs were in the hands of Williams, Knowles, and
Hustler; Williams, jun., acting as secretary, under the
control of the other three persons.
‘, Within a month or two from this time Williams
sct up a carriege and pair of grey horses, Knowles
the same. young 'Williams his cab and footman, or
groom, Knowles's son, who also had a situation in the
()Mee., his cab and groom, Hustler, his horse, and, I
believe, carriage. This lasted until August, 1840,
when the first exposure appeared in a publication
in London, and alarmed the managers, who imme-
diately called upon Hole to resume his situation. Hole
refused to return unless they would consent to give him a
statement of the money received and paid sinco his retire-
ment. They refused to give such a statement, but said.
that the amount received was from 38,000/, to 40,0001.,
and that it had been all expended, and when Hole asked
Williams to let him see the books the reply wag, " I'd see
you d—d first." Hole in consequence of this refusal
would not interfere, and as it now appeared plain enough
that an cxnosure would take place, Williams and his eon
reported that they had retired from the company at Mi-
chaelmas last, thus leaving the concern in the hands of

Knowles and Hustler. -
"As a proof that the money at this time was nearly
exhausted, Hole, after many importunities on the part of
Knowles, was induced to put his name to two bills for
500/. (aeh, which on corning due were dishonoured, and
Hole was arrested on the ground of his determination to
quit the country. This, I believe, by dint of hard swear-
ing was got over. At this time the office closed, and
Knowles decamped. Hole having been one of the secu-
rities for the payment of the government duties, his goods
were seized and sold, and, I believe, the rest of the pro-
perty was attached.
In the Post-office Directory for 1841, page 1412,
you will fill amoeg the managers J. D. Hustler, Esq.,
George Williams, Esq., Thomas Knowles, Esq., and the
Secretary, George E. Williams. Add to which, the
notices for premiums, due at Chlistmas last, are signed
G. E. Williams, Secretary.
" From the foregoing there can be but little doubt that
the object in ridding themselves of Hole on the part of
Williams, Knowles, and Hustler, was to got the funds
into their hands for their own disposal. It only no re-
mains to be stated, that Williams bought houses" in Park-
street, Camden-town, also a property at Norwood called
Cottag—, wiai several acres of land attached, and
upon which large sums of money have been expended.
That Knowles and Hustler must have secured their share
no one who has heard of the company will ques'..ion ; but
Hole and Williams appear the only persons in the firm
of tlie Independent and West Middlesex Life and Fire
Assurance Company who have purelosed property."