The Sun.
London, England, 1860-08-24 00:00:00

LATV INTELLIGENCE.-(THIS ..DAY).

SHERIFFS' COURT.
(Before Mr. Kerr.)
THE PANIC IN THE LEATHER TRADE-RESULT 10F MESSRS.
STREETFIELD'S FAILURE-ISRAEL T. KER AND
ANOTHER.
Plaintiff is an extensive carcase butcher, of AL lgate, and
defendants are large hide salesmen, tanners, ant 1 Govern-
ment contractors, of Bermondsey. .

Mr. Buchanan stated that his client sought t o recover
£2O 18s. balance of an account for hides, sold and. delivered
to defendants.
Plaintiff and his witnesses said that the price -allowed by
defendants (with whom plaintiff had dealt many- years) for
hides delivered was not fair, nor in accordance with the
market price.
Mr. Sharpy, counsel for defendant, contended) that the
price was fair, and called witnesses to prove the ,depression
of the market during the week from the 2d to 7th July
ultimo.
In the course of the case it was stated that on Friday
the 27th June the market price was 3s. Bd. to :3s. 9d, per
ear
stone. Late on the Monday following and I]' on Tugs-
day the failure of Messrs. Streetfield, Mortimer( and Co.,
was announced, and on Tuesday prices fell in son ie cases to
tlhso. 6mda.
rpkeerts.tonTehi, bettgtrelsa.t andls.
brought9d .ingena loterall y governed
fall t if jobbing
dealers who sold on Friday at 2s. Bd., making
.a profit of
Is. per stone. Up to the present time the hide rn tarket has
not recovered from the effects of the great fat lure men-
tioned, for the reporter was informed that 38. 4 I. is now
the pricy for prime skins.
His Honour said in this case there were no fat :Is in dis-
pute. It appeared that plaintiff had been accu stowed to
send his hides to defendant, who had from tiu ie
to time
allowed a quantum price regulated by the state 01 f the mar-
ket. But in the case of the present hides, plain" had been
allowed a price which was not a fair price, but ; a panic
price, and the price in a panic market is not a quantum
value. In this case plaintiff would have a verdi ct for the
value amount.
Mr. Sharpe objectedstrongly to the verdict, aad a rather
warm discussion ensued.
Mr. Buchanan applied for costs, which were att lowed.

A Vienna letter states that a special m essenger
had arrived there from Rome, bringing an autograph letter
from the Pope to the Emperor Francis Joseph.
The Prussian Gazette asserts that Pril ice Fre-
derick Charles is not the author of the pamphlet attributed
to him, concornuag the military forces of PruesiN

THE NA VT.

A Malta letter, dated Aug. 18, says :—" Another
French steam transport arrived to-day. She comes
from Oran, and has on board six officers, 400 men,
and 400 horses, for Beyrout. There have been no
naval movements since my last. It is reported that
three months' provisions are to be sent to our squad-
ron at Naples, and that the Mediterranean fleet is
shortly to be joined by the Orion and the Melpo•
mene, from England. The question between the
Imperial and local Governments as to the improve-
ment of Malta harbour seems to be quite settled.
Three tenders were made in England for the con-
tract, giving lists of prices ; but, as both Govern-
ments wish to have tenders for the whole of the
work the two lowest bidders have been requested to
come here, in order, after inspection of the locality,
to make such tenders. Mr. Scamp, the Deputy
Director of Admiralty Works, having been one of
the commission who made the estimate, is expected
here about the middle of September, to give the con-
tractors any explanations they may require ; and an
engineer connected with one of the gentlemen who
tendered for the work is already on the spot. Dur-
ing the last week measurements have been taken,
and the ground bored in several places at the Mar-
sa, in the Great Harbour, and at the head of the
Pieta Creek, in the Marsamuscetto Harbour, under
directions from the local Government and the Naval
Department. From signal flags which have been
erected, and other circumstances, it is believed that
the original plan of connecting the two harbours
by means of a ship canal is once more under con-
sideration. lam informed upon good authority
that it is the desire of the Imperial Government to
execute both projects at one and the same time,
and that naval authorities here are of opinion that
the canal is absolutely necessary to complete the
harbour scheme as at present proposed."
The Adder, paddlewheel steamer, Mr. J. Mull-
chin, master, which has been making good defects
at Chatham d4ckyard, is completed, and will be un-
docked next spring tides.
The following appointments were made yester-
day at the Admiralty :—Lieut. F. J. D'Aguilar, to
the Imaum ; E. W. F. Boxer, naval cadet, to the
Melpomene ; and G. E. M. Ray, acting third-class
assistant-engineer, to the Asia.