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   A. S.  Corect; and on the other side I must also have the ship and cargo duly appraised; since, according to shipping law (i) each of them, besides the freight, is to contribute towards covering the common loss, in due proportion with their present actual value. I will have recourse to an expert, to act as a legal surveyor in the case.
   S. M.  I think there are sufficient available data, for you to obtain these figures even without the help of a surveyor. My ship was insured three years ago, when just launched, for eight thousand pounds, which, with some reduction for the three years' working, represent very near her present value ; the amount of freight is shown by the charter-party, from which freight however a sum is to be deducted for wages and victuals (2) to the officers and crew during the voyage, and, as to the cargo, it may be easily valued on the present ruling price of coal on the market.
   A. S. == Provided no complications arise, I'll try to follow your advice. By the by; how many tons of coal had you on board ?
   S. M.  Two thousand eight hundred, ac-
   (1) Shipping law  Legge sulla marina mercantile.
   (2) Victuals  Gli alimenti per l'equipaggio, usualmente dette « panatiche ».
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   cording to bill of lading weight (1), but the quantity delivered to consignee was only two thousand five hundred, so that we must calculate at three hundred tons the quantity jettisoned.
   A. S.  The cargo has already been delivered, you say? I did not know that, and think it was a mistake on your part, captain, since we have a lien on the cargo (2) for the payment of its share of contribution to the general average, and therefore had to keep it in our power as a pledge, till the business is settled.
   S. M.  You are right in principle, my dear Mr. Blund, but before delivering the cargo. I was fully covered against any possible drawback. Here is (producing a paper) a regular average bond (3) duly executed by
   (1) Bill of lading weight  Il peso della merce imbarcata, come trovasi indicato sulle polizze di carico.
   (2) Lien è vincolo, privilegio  quindi lien on the cargo significa quel diritto che la legge accorda al capitano di rivalersi sul carico per il pagamento del nolo e di qualsiasi onere che pesi sul carico stesso.
   (3) Average bond è un atto, col quale il ricevitore o i ricevitori di un carico si obbligano a pagare la quota di contribuzione nell'avaria, quale verrà loro assegnata nella liquidazione, e ciò allo scopo di entrare in possesso delle loro merci senza dover aspettare la liquidazione. Dicesi « obbligazione d'avaria ».