The Sun.
London, England, 1865-07-31 00:00:00

SPORTING NOTES.

The Brighton foll•)wing so closely on Goodwood is sure
to command a large attendance of the metropolitan turfites.
Mr. Brayley cannot fail to secure the Brighton Stakes with
either Itedmire or Pearl Diver. His most dangerous op-
ponent being John Davis. Union Jack or Cambuscan will
secure the Champagne Stakes. May Queen is not over-
weighted for the Marine, but it had better be left alone
until the acceptances are declared. Auguste will win the
Fourteenth Biennial, Cambuscan the Cup, and Gladiator
the Seventh Biennial Stakes.

A FRESHMAN.

Liverpool Cotton Market—This Day.
Market unchanged. Sales, probably 5,000 bales.

SHIPPING IN day.

LONDON, July 31.—Wind this day at noon—South-
Westerly ; 'moderate breeze and fine weather, but a little
cloudy.
PORTSMOUTH, 'July 30.—Wind S.W.—Arrived--lier
Majesty's ship Liverpool, from Plymouth. Sailed— Debt-
mere, for Bombay:-

CARDIFF, July 29.—Wind S.W.—Sailed—Whampoa, for
Shanghai.

KINGROAD, July 29.—Wind S.E.—Arrived—Ada, from
St. John's, N. 8..

QuEENsrowN, July 30.—Wind W.S.W.—Arrived—
Cuba, screw steamer, from Liverpool, and proceeded for
New York.

Orr QUEENSTOWN, July 30.—Wind S.W.—Arrived—
Enor, from Demerara.
NEWPORT, July 29.—Wind S.W.—Arrived—Ganges,
from Garrucha.

PLYMOUTH. July 30.—Wind S.W.—Sailed—True Briton,
for Melbourne.

FALMOUTH, July 30.—Wind N.E.—Arrived—Hebe,
from Rio Janeiro.

:BRISTOL, July 30.—Wind &E.—Arrived—Trident,
from llavannah.

ABERDEEN, July 29.—Wind S.W.—Arrived—St. Law-
rence, from Quebec.

SHEERNESS, July 30.—Wind S.E.—Arrivod—John Pat-
tern, from Mcrulmein.

, •
HULL, July 30.—Wind S.W.—Arrived—Benoza, from
Quebec; Johanna, from Iceland.

BY ELECTRIC TELEGRAPH.

• . GRAYESEND, Monday Morning.
Arrived, July 31.—Catherine . Seed, and Baltic, from
Dantsic.

Arrived; July 31.-L-Lady Milne, from Bermuda ; Tiguor,
from Soderham.

DEAL, Monday Morning.

Passed, July 30.—Athol, ship, from London for Liver-
pool ; Fergus, from Quebec for Hull ; Matilda, from Soffo
London.

Foreign Mail Packet List.

MAILS DUE.

Australia and New Zealand, via Southampton Aug. 18.
Ditto, via Marseilles Aug. 12.
Brazil and Cape Verds, by British pacu,et Aug 4.
Ditto, by French packet
Cape of Good Hope, Ascension, and zt. Aug. 21.
China, Penang, and Singapore, via Sou hampton Aug. 2.
Ditto, via Marseilles Aug.
Falkland Islands

Gibraltar, cia Southampton
India (Calcutta), and Ceylon, via Southampton Aug. 2.
Ditto, via Mar.eilles Aug. —.
India (Bombay), via Southampton. Aug. —.
Ditto, via Marseilles .. Aug. —.
Mauritius, via Southampton

Ditto, via Marseil es. Aug. 4.
Newfoundland Aug. 2.
Portugal ....Aug. 4.
Ditto, by private ship to Lisbon
United States and British North America, by Bri-

tish packet
Ditto, by United States packet, via Southamp-
ton

Ditto, via Cork

Ditto, by Canadian packet, via Londonderry Aug. 4.
West Coast of Africa. Madeira, and Teneriffe Aug. 0.
West Indies and Pacific (except Bahamas, Cuba, •

and Mexico
Bahamas, via New Y ork

Aug. -.
Aug. 16

An influx of 14,000 sovereigns took place at the
Bank on Saturday.

The traffic receipts of the Metropolitan Extension
Railways of the London, Chatham, and Dover
Company this week show an increase of £420 over
the corresponding week of last year.
The report of the English, Scottish, and Austra-
lian Chartered Bank, presented to the meeting of
shareholders to-day, for the half-year ending March
31 in the colonies, and to June 30 in London, states
that the balance of pivriGa, iLfGer snaking provision
for bad and doubtful debts, was £22,038. They
therefore recommended-that out of the balance of
£22,538 17s. 7d. a dividend at the rate of 7 per
cent., free of income tax, on £600,000, the paid-up
capital, which will require £21,000 ; that the pre-
mises and furniture accounts be reduced by £l,OOO ;
and that £538 17s. 7d. be brought forward to the
current half-year.

At the meeting to-day of the shareholders of the
Joint Stock Discount Company the report was'
adopted, which showed a gross profit la £54,073,
inclusive of £3,243 brought forward. After deduct-
ing rebate of interest on bills not due, and the cur-
rent expenses, the directors recommend a dividend
of six per cent., carrying forward £6,573. Of the
amount of the company's claim against the Leeds
Banking Company more than 10s. in the pound has
been already received, .and the directors believe the
entire amount, with interest, will be realised.

The King of Prussia, when on his way to Gastein,
dined with the Archduke Louis-Victor at liresheim,
near Salzburg. King Louis I. of Bavaria, who is
at the present moment residing at his seat of Leci-
poldkron, in the neighbourhood of that town, went
in the afternoon with his son, Prince Luitpold, to
pay a visit to King William, but the latter had gone
on an excursion to Reichenhall, so that the two
monarchs did not meet.
The RIGHT OF PROPERTY IN AMERICAN COTTON.
—An important case, the United States of America
v. Prioleau, was argued before Vice-Chancellor Wood on
'Wednesday. It was a motion to restrain the defendant,
Confederate agent, and others, from disposing of a freight
of cotton, consisting of 1,500 balespr
theor tAhreurenaebotuethse,
had been shipped from Havanawhich
turned
into money for the purposes of the Confederates,n' and which
iinntitffhee
claimedltey Company's pa y docks, at Liver-
pwoasol.noTwhleyinpgla
tghoavtetrhneoirrs
toitfletha
es
sijuncciteesdsfuSitarutensners o f theef °bill
property y as the lawful
deaeknatsdeinwsisasteda
geodonset,ataened
wthaeateuevb
jeteenf it werei
hnot,inthethteitle of the
United
tother
Prioleau, who alleged he was a te
loser of £20,000t and
°f
upwards by the Confederates. The Vice Chancellor said
he was clearly of opinion that the plaintiffs were entitled
to the cotton in question ; but whether or not subject
to the agreement between the defunct Government
and Mr. Prioleau was a more serious question. The
transaction was a transaction between a Government de
facto and the citizen of a country not connected with the
belligerents. In the first place it was for the Court to
see to whom the cotton belonged at the time when the
transaction was entered
.upon. Upon the evidence it
could not be doubted but that it was the property of the
Confederate States. It was the produce of moneys con-
tributed to be levied as taxes by the Government of
those States. It was not the property of any individual
state of America; if it had been, the peculiar constitution
of the United States in this respect might have led to
difficult questions. But it was plain that the money
which produced the cotton was levied in more than one
state, and was the property of the Government of the re-
volted Confederation. Next to be considered was this :
What was that Government ? It was not a mere band of
marauders ; not a set of persons plundering a country
and living upon the plunder they levied. It was au
actual, a de facto " government," exercising authority and
receiving submission as such. It had now come to an
end, and its functions been resumed and its authority
suppressed by the plaintiffs. What was the law appli-
cable to this state of things ? It could not be doubted for
a moment. International law—the consent of all civilised
nations—had settled beyond disputo that when ade facto
government came to an end, and was succeeded by
another government, the property of the de facto govern-
ment passed to its successors. 13ut then arose the ques-
tion, did not the successors take such property bound
by the agreements, and affected by the equities of their
predecessors ? Subject to any argument which might be
tand
ad
tu
tc eh
ed
sounc tche
seshearing
were o f s
ot hbe
octutuuds
.e, ict ce laeral
yr
therefoappearre,
appeared
,
RS at present advised, the plaintiffs must take this cotton
subject to the agreement between the late Government
and the defendant Prioleau. But upon that agreement
much question might arise. The expenses of transit
should come out of the amount, but beyond this there
was much question. One half the residue appeared
pretty certainly to bo the property of the defunct
Government, under the agreement, and of course that
would pass to the plaintiffs. As to the other half, more
question attached. All th,,se questions, however, were
matters for determination at the hearing, and the Court
had nothing to do now but to take care that, considering
the large amount at stake, the plaintiffs were held harm-
less. The value of the cotton, in round numbers, appeared
to be about £40,000, and the order would be, therefore, that
Mr. Prioleau be appointed receiver in the cause (which
would enable him to dispose of the cotton, and pay all
proper charges, &c.), ho either giving security for £20,000,
or paying that amount into court, as he might think fit,
before the aeco44 day cf ReXt term.