The Liquidators of the Albert Assurance Office have published their
proposal for reconstruction. We have analyzed it elsewhere,
for the benefit of our Anglo-Indian friends, who are interested in it to a singular extent, the "Medical and Invalid," .which was fused with the Albert, having been for years the pet Indian office, and, we believe, a very good one. We may, however, add here that the English creditors appear disposed to reject the astounding proposition made to them. They are asked, in fact, to condone everything, to sacrifice half their annuities and a quarter of their policies, and form a new company to insure each other, while one- fifth of their profits are to be paid away to the shareholders of the Albert,—that is, to the very men whose mismanagement has pro- duced the trouble. The creditors say they can find no trace of authority for the payments by which fusions were arranged, in which case they will have right of action against the Directors, and in any case, a Court must decide on the extent of the share- holders' liability. We trust the Anglo-Indians, who have money and spirit, will reject all proposals, refuse all payments, bring all parties into Court, and form, in unison with the local Govern- ment, an office of their own.
