The Sun. — 1849-03-05 (London, England)

HUDSON. It would be impossible to condemn too strongly his conduct, if the imputation were well founded, and that it could be proved that he had the guilty intention of defrauding those whose interests it was his duty to guard and protect to the utmost of his power. But no sufficient proof has been as yet adduced to sustain the charge. Mr. Hunsos at once admitted that he sold the 2,800 shares to the company, and it was stated by Mr. PRANCE, who brought forward the motion for inquiry, that all the 151. shares had been purchased at an average of 21/. premium, whereas the average of the quotations from October, 1846, to December, 1848 amounted to 161. 15s. only; or, in other words, that 41. ss. was paid for each share more than the amount for which it could have been purchased on the Stock-Exchange. Now all this may be perfectly true, and yet there might have been no fraud or overcharge. The average of prices during a period of two years and three months might show a result ♦ery different indeed from what those prices might have been at the time of a particular transaction or at the times of many different transactions. Persons who invested their capital in railway securities in 1846, or even in 1847, would find that they had paid very far beyond the average, if the panic rates of October last were taken into account ; and yet they could not charge the parties from whom they had purchased with having imposed upon them, or of having obtained unfair prices for their property. So, in like manner, Mr. HUDSON may be perfectly innocent, although he had been paid for the shares sold by him much more than the average price.  In order to establish his guilt the dates of every transaction should be ascertained; the actual bon(2fide price for the day should also be known. The mere quotation will not be sufficient. It is now well known that quotations were made much below the real rates, in order that parties who were frightened by the misrepresentations and falsehoods that were so freely circulated, and who in consequence came in to the market as sellers, should get the smallest possible amount ; but it was very different when purchasers appeared—then the stock was not forthcoming—it could not be obtained at the moment, and transactions could not be effected without a considerable increase of price. Now the question will really be—what could the company have obtained those shares for in the market which they purchased from Mr. HuosoN. If they paid beyond the actual value, then who are the delinquents? Mr. HUDSON cannot be the only one. Others must be cognisant of the transactions, and participating in his guilt, if any there was. A committee has been Appointed to inquire into the subject with the full consent of Mr. HunsoN. He did not resist the proposed investigation, and that fact affords prima facie evidence of his innocence. The strictest and most searching inquiry will take place—his very accusers, the proposer and seconder of the motion for a committee, are two out of the five appointed. They will leave nothing undone to sustain their case ; if it can be made out they will do so. We therefore claim for Mr. HUDSON that he should be esteemed innocent until he be proved guilty, and that vague charges, which at most amount to matters of suspicion, should not be assumed as gospel truths until their accuracy be fully established.  We have always been among the most strenuous advocates of the principle of life assurance, and we therefore hail with satisfaction the formation of a new company (the first meeting of the shareholders of which will be held to-morrow) which will, by the facilities it affords with regard to the payment of premiums, enable those to make a provision for their families who have been hitherto prevented, by the res angustcs donti, from availing themselves of the benefits of life assurance. To all such persons the Engineers,l Masonic, and Universal Mutual Life Assurance Society (the advertisement of which appears in another column) offers unusual advantages. The policies are issued free of stamp duty. A policy once granted will never be disputed, so that the assured can feel really assured that his children will reap the fruits of his providence. The permission to pay the premiums monthly will enable many to insure who could never hope to accumulate sufficient in one gross sum to pay an annual premium, and the power to take credit for one half the premiums during life will be an incalculable benefit to those who may be temporarily embarrassed, and will enable many to save a policy, which, according to the old plan, must inevitably have been forfeited. The power of introducing a second person in the room of the one originally assured, is also a great boon to the assured, as is the non-voidance of a policy by duelling or suicide, or death by the hands of justice, in cases where it has been assigned as a bona fade security. All these are great boons to the assurers, and the office will no doubt reap the just reward of its liberality.