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London,June 22. - During the launching of the new British first-class battleship Albion, oí 12,950 tons, at Blacliwell, today, by the Duchess or York, a ceremony at whicn the United States ambassador, Col. Jolin Hay, and Mrs. Hay and Lieut. Cel Well, the United States naval attaché, assisted, the displacement oí rater caused an immense overflow en 11 sides, completely submerging one oí the lower stiges of the yard and immersing hundreds of people. It is estimated that 50 persons were drowned. Another, but discredited, report says the warship sank. As this dispatch is sent the bodies of 27 men, women and children have been recovered from the scène of the Blackwell disaster. The Duchess ot York and Col. and Mrs. Hay and the remainder of the distinguished guests did not see the accident, which occurred at the moment when three cheers were called for the successful launching, and the cries and the screams of the victims were downed by the outburst of hurrahs and the steamer sirens.