At noon yesterday, Sir Gilbert, accompanied by Mr.Moneylaws, went out in the former's yacht (a small vessel of light weight) for a sail which, according to certain fishermen who were about when the yacht left, was to be one of a few hours only.

The yacht had not returned last night, nor has it been seen or heard of since its departure.

Various Berwick fishing craft have been out well off the coast during today, but no tidings of the missing gentlemen have come to hand.

Nothing has been heard of, or from, Sir Gilbert at Hathercleugh up to nine o'clock this evening, and the only ray of hope lies in the fact that Mr.Moneylaws' mother left the town hurriedly this afternoon--possibly having received some news of her son.

It is believed here, however, that the light vessel was capsized in a sudden squall, and that both occupants have lost their lives.