Magnetic and transport properties in the ceramic specimen of L $a_{0.7}$S $r_{0.3}$Fe $O_3$ with orthohombic structure has been investigated. Weak ferromagnetism has been observed in a ceramic sample of L $a_{0.7}$S $r_{0.3}$Fe $O_3$. Large dielectric relaxation of Debye type is observed in paramagnetic states within the temperature range of 130K~200K. From the temperature dependence of the characteristic frequency, we concluded that the elementary process of the dispersion is related to holes hopping between F $e^{3+}$ and F $e^{4+}$ ions. The temperature dependencies of thermoelectric power and Dc conductivity suggest that the charge carrier responsible for the conduction are strongly localized. These experimental results have been interpreted in terms of a hopping process involving small polaron.n.laron.n.