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The collapse of Oscar Wilde's case and subsequent arrest, says the correspondent of the 'New York World' on 5th April, have cause a sensation without parallel in London since the exposure and flight of the forger Pigott during the sitting of the Parnell Commission. Still, since Wilde's first day's testimony the result was foreseen. The expectation was that the jury would stop the trial and return a verdict for Lord Queensberry. Wilde's lawyers acted wisely in consenting to a verdict at the stage the suit had reached. If Lord Queensberry's witnesses had been examined the judge would have had no recourse, but must have issues a warrant for Wilde's arrest on a charge entailing as a maximum a penalty of twenty years' imprisonment, but upon the evidence already unfolded, if Wilde is convicted, it can only be of a misdemeanor, for which the maximum penalty is two years' imprisonment. Wilde looked a changed man this morning as he slunk into the court buildings. His complexion was ghastly, and altogether he had the aspect of a man who had passed a wakeful and anxious night. To an interviewer Wilde stated, in a nervous tone quite unlike his flippant audacity as a witness, that he had withdrawn from the case to spare Lord Alfred Douglas the pain of testifying against his father, adding that he willingly sacrificed himself for his friend. That was the hollowest "bluff." The truth is that Wilde's chief lawyer, Sir Edward Clarke, decided after the close of Thursday's proceedings to withdraw from the suit. This decision was immediately communicated to Oscar, hence the restless, hopeless night he passed. Wilde's lawyers say that up to that time he had never evinced the slightest appreciation of the enormity of the accusations against him. It was only when the imminent prospect of his taking Lord Queensberry's place in the dock dawned upon him that he lost his self-command The mass of testimony ready to be given against him, as foreshadowed by Lord Queensberry's counsel, took Wilde completely back. The 'Word's' correspondent hears that this testimony was tendered by the police to Lord Queensberry's lawyers, it having accumulated during their investigations. They had planned a public prosecution if the case had proceeded. It is rumored that one of the reasons why Sir Edward Clarke decided to stop the trial was that to go on would have involved the disclosure of the names of distinguished personages, but this story is discredited. If Wilde had escaped to the Continent he would have been safe from arrest, as he could not have been extradited under the charge. It was reported he had fled, but he was seen in Chelsea at 4 p.m. to-day, and was arrested by 7 p.m. Mrs Wilde, who is distracted with grief at the turn affairs have taken, has about £500 a year of her own. For the last three years she has received no financial help from her husband.

Ever since the Police Court proceedings the bookings for both Wilde's pieces have steadily declined. The London public will never tolerate the performance of any more of his plays. Thus his principal means of livelihood is gone, and as he lived very extravagantly he has nothing from the large income he has had for some years.

FLIGHT PROJECTED.

A later London cable says:—"Oscar Wilde was arrested by a detective of Scotland Yard this afternoon on charges growing out of his own evidence given in the libel suit against Lord Queensberry, which was decided against the dramatist to-day. The warrant was issued on the application of Sir George Lewis on behalf of the Public Prosecutor. After the trial this afternoon Wilde went to the Westminster Bank, where he drew out the funds to his account, after which he was constantly shadowed. He returned to his hotel, accompanied by Lord Alfred Douglas, only remaining a few minutes, after which they drove off to Ely place, and thence to the Cadogan Hotel, where they vanished. The Scotland Yard authorities issued descriptions of Wilde, and spread them over the city, and he was captured before he could get out to the country, as was evidently his intention. He was taken to Scotland Yard and locked up; then he was taken to Bow street and placed in the dock. At the police station he stood with his hands in his pockets while the charge against him was being taken. The police inspector then read the charge aloud, and asked Wilde if he had anything to say, adding the usual warning that anything he said might be used against him. The prisoner, apparently indifferent, made no reply. He was then searched, after which he was locked in a cell. Subsequently Lord Alfred Douglas went to the police station and inquired whether Wilde would be admitted to bail. The police inspector explained that Wilde was arrested for a criminal offence, which did not allow of bail being accepted until he had been arraigned in court. Lord Alfred seemed greatly distressed by this information. Sworn informations have been lodged against several persons mentioned in the trial, some of whose names were not made public. They will be arrested."

WILDE'S EXPLANATION.

The 'Evening News' to-day received the following letter from Oscar Wilde, written upon note paper of the Holborn Hotel:—"It would have been impossible for me to have proved my case without putting Lord Alfred Douglas in the witness-box against his father. He was extremely anxious to go into the witness-box but, I would not let him. Rather than put him in so painful a position I determined to withdraw from the case and bear upon my own shoulders whatever ignominy and shame might result from my prosecution of the Marquis of Queensberry."—Oscar Wilde.

London, Apr. 3. -- The case of Oscar Wilde against the Marquis of Queensberry for libel was brought to a close this morning in a verdict in favor of the defendant.

The jury found not only that the defendant was not guilty of libel, but in a subsidiary verdict declared that the Marquis of Queensberry's charges were true and had been made for the public good.

The Old Bailey court room was crowded almost to suffocation this morning when Mr. Carson resumed his speech in behalf of the Marquis of Queensbery.

The judge interposed and said if the jury were justified in agreeing upon a verdict in one part of the case they must return a verdict of guilty or not guilty as regards the entire case.

The jury then returned a verdict of not guilty and supplemented their verdict with the declaration that the charges made by the defendant against Wilde, which constituted the libel complained of, were true, and that they had been made in public interest.

When the verdict was rendered the Marquis of Queensberry left the dock amid loud cheers.

The judge granted an order requiring Wilde to pay the costs of the defence.

At 3:30 P.M. a solicitor applied at the Bow st. police court and obtained a warrant against Wilde for immediate execution.

In an interview, the Marquis of Queensberry said: "I have sent this message to Wilde: "If the country allows you to leave all the beter for the country; but if you take my son with you I will follow you wherever you go and shoot you.'"

Sworn informations have been lodged against several persons mentioned in the trial, some of whose names were not made public, and the civil officers are only waiting the authority of the treasury department to make arrests.

Oscar Wildo was subsequently found by the detectives, who arrested him and took him to Scotland Yard.

Explanation by Wilde.

London, Apr. 5. -- The Evening News has received this letter from Oscar Wilde: "It would have been impossible to have proved my case without putting Lord Alfred Douglas in the witness box against his father. He was extremely anxious to go, but I would not let him. I determined to withdraw from the case and bear upon my own shoulders whatever ignominy and shame might result from my prosecution of the Marquis of Queensberry.