14 MAY 1864, Page 1

The first naval engagement of the war has terminated to

the advantage of the Danes. On Saturday, the 7th inst., the Austrian Captain Teggetoff, in command of the frigates Schwartzenberg and Radetzky, and the Prussian gunboats Adler and Blitz, were informed that the Danish squadron, two frigates and a corvette, were approaching Heligoland. He accordingly steamed towards them and gave battle with the gre.atest gallantry, running right in between the Niels Juel and Dagmar. The fight lasted an hour and a half, at the end of which time the Austrians, though they had 121 guns to the Danish 74, had been so severely handled that they were compelled to sheer off and run for Heligoland. The Schwartzenberg had her foremast and rigging in flames, had lost her bowsprit, and narrowly escaped being blown up. She had, moreover, lost 31 men killed and from 70 to 80 wounded. The Radetsky, though less injured, fled at the same time ; but the Danes, with Heligoland so near, did not pursue. The Austrian Court is so delighted with the gallantry of Captain Teggetoff that be has already been made an Admiral. The honour would seem to be personally deserved, but it is dangerous policy publicly to reward failure against an inferior force.