I think this note is a great clue and it is telling you all of Emma's last names.
Emma Chubb late(r) or late(ly) Fone formerly Lane.
Here is an Emma Lane who married a George Fone.
"England, Dorset, Parish Registers, 1538-1936," index and images, FamilySearch (
https://familysearch.org/pal:/MM9.1.1/X8CM-GPN : accessed 4 March 2015), George Fone and Emma Lane, 22 Dec 1867; Marriage, citing Broadwinsor, Broadwinsor, Dorset, England, Record Office, Dorchester; FHL microfilm 2,427,444.
Does this fit from a point in time and from a geographical standpoint?