The Sun.
London, England, 1869-09-10 00:00:00

THE ALBERT ASSURANCE COMPANY.

A crowded meeting of the policy-holders of the Albert
Life Assurance Company, convened by the provisional
official liquidators, in conformity with an order of the
Vice-Chancellor, was held at the London.' Tavern on
Thursday, "for the purpose of considering the best mode
of arranging the affairs of the company, and the plaa pro-
posed by the provisional official liquidators with reference
thereto."
Lord W. IfAir was called to the chair. He said that
he was a policy-holder, and had been so for many years.
His pecuniary interest was not very large, and on that
account alone he should not have attended the meeting ;
but he considered it the duty of every man, in the case of
the failure of an institution of this magnitude, to aid his
fellow-sufferers. Their first Lusiness would be to consider
the scheme proposed by the liquidators, which he
expected would be summarily and entirely con-
demned. But he would ask them to hear the liqui-
dators patiently, and to reserve any expression of
opinion on the conduct of those who had hitherto had the
management of the company until tLey had all the facts
before them. He would recommend them to employ the
greater part of their time in considering the best mode of

arranging the affairs of the company ; anal he thought that
for this purpose the interests of the policy-holders and the

assignees were practically identical. r lie would beg
them to remember that union was strength. The
converse was equally true—disunion would be weakness;
and by shewing weakness they would be playing out the
game of those who had been instrumental in bringing them
to this position. There were only two courses open to
them : the one, reconstruction, and the other, liquidation,
which included the possibility of reconstruction. But
no scheme, whether for reconstruction or any other pur-
pose, could be considered in a place and on an occasion
like that ; and it would be for the meeting to consider
whether the best plan would not be to appoint
a committee fairly representing the interests of
the whole body of policy-holders, whose first
business would be to recommend a liquidator
to the Vice Chancellor. Such an officer must be a person
in whom they had complete confidence, for he feared the
ruin which surrounded those interested in this company
was to be attributed to the fact that an amount of confi-
dence had been placed in persons who were scarcely
worthy of it.

Mr. PRICE, one of the provisional liquidators, was glad
1* meet the policy holders, in order that he might give
them all the information which he had gathered during
his investigation of the affairs of the company. That
investigation had been wholly uninfluenced by director,
manager, or anybody connected with the company. Ile
had had no communication, direct or indirect, with any-
one connected with the company, and for the results stated
in his report he alone was responsible. The report ho
would not at present discuss. lie wished to xplain that
the plan proposed by the provisional liquidators was
not des,gned to be accepted as a whole by the policy-
holders; it was not intended to indicate so much the precise
mode of reconstruction as to point out the principles
which occurred to them as being those upon which recon-
struction might safely, with advantage both to Aare-
holders and policy-holders, be formed. Tie proposed to
read a statement, signed by himself, Messrs. A.sllurst,
Morris, and Co., and Messrs. Lewis, Munns, Nunn, and
Longdon, which had been sent to the newspapers, but had
only appeared in one or two that morning. (Cries of
"No, no," and "Read, read.")
Some opposition was raised to the reading of the state-
ment, and the meeting divided upon it, amidst conside-
rable disorder. The numbers for and against were nearly
equal, and Mr. Price withdrew his statement for the
moment.

Mr. JOSEPH said they wanted to know what had led to
this disaster.—(" No, no," and hear, hear)—and who had
taken their money (Hear, hear, cries of " Robbers ! u and
We wish to know whom we should hang.") Mr. Joseph
prolonged his remarks for some time, while the greatest
confusion prevailed, and the chairman having several
times begged him to keep to the point, he moved a resolu-

tion to the effect that any committee to be appointed
should inquire into the liability of shareholders of the
amalgamated companies.
A policy-holder moved as an amendment that the com•
pany go into immediate liquidation. (Hisses).
The resolution was withheld until later in the day.

THE BISHOPRIC OF SALISBURY.—III pursuance
of the conga d'elire under the Great Seal and the Queen's
letter recommendatory, the Dean and Chapter of the
Cathedral Church of Sarum, at a chapter meeting held on
Thursday morning in the Chapter-house of the Cathedral,
elected the Rev. George Moberly, D.C.L., to be bishop
and pastor of the See of Salisbury, in the room of the
Right Rev. Walter Kerr Hamilton, D.D., deceased.
THE MYSTERIOUS AFFAIR AT HENDON. —lt is

stated that the friends of the young woman who was
found dreadfully injured on the line of the Midland Rail-
Way, near Cricklewood, in June last, are about to bring
an action for damages against the company. A sum of
£6OO has, it is said, been offered as compensation ; and in
case of an action coming on, that amount will be paid into
Court without prejudice.

ST. PAUL'S CATHEDRAL—Workmen aro now
engaged at the east end of St. Paul's Cathedral removing
the plain glass window over the north side of the com-
munion table, which is to give place to one of stained
glass. The central window is already filled in with a
representation in coloured glass of the Crucifixion, and it
is stated that as soon as the work which is now going on is
completed, the window over the south side of the Com-
munion table will be removed, and one of coloured glass
'substituted. No visible preparations have yet been made
in the cathedral for the "national monument" to the
Duke of Wellington, though it is now seventeen years
since his remains were deposited in the vaults beneath.
LADY PREACIIERS.—In the Free Church Pres-
bytery of Orkney there has been a curious discussion in
reference to female preachers. A Miss Smiley, of Balti-
more, who seems to be a Quakeress, was allowed to
preach a short time ago in the Free Churches at Harray
and Sanday. At the Orkney Free Church Presbytery a
few days ago attention was called to this fact, and Mr.
Roy moved a resolution declaring female preaching to be in-
consistent with the practice of the Church and opposed
to Scripture, and enjoining the brethren within the bounds
of the Presbytery to discourage such preaching by refusing
the use of their churches for it. The two ministers who
had allowed Miss Smiley to preach—Mr. White and Mr.
Armour—defended themselves vigorously, and there was
a long discussion. Mr. White moved the previous question,
but on a division Mr. Roy's motion was carried by seven
votes to two.

ONE OF THE " ALBERT'S " VICTIMS.—At the
ordinary weekly meeting of the board of guardians for

the West Ham Union, Mr. John Meeson, the vice-
chairman, drew the board's attention to a very sal
case which had come before one of their relief committees

that morning. It was that of a poor widow who had a
short time since sunk her little property in the pur-
chase of an annuity in the Albert Life Assurance
Company which would yield her a sum of Ps. 6d. per
week, imagining that she had thus secured a provision for

herself during the remainder of her life. As it was, in
consequence of the failure of the company, she was left at
67 years of age quite penniless, and had been compelled to
apply for parish relief that day. The Chairman observed
that this was a very distressing case, and worthy the
board's kindly consideration. Mr. Meeson added that he
had written to the committee which he believed was sit-
ting in connection with winding-up the affairs of the coin.
parry, to two if anything could ho done for the voor
woman.