We are now in the approximate position of the American iron ship “May Flint” (late steamer “Persian Monarch”), one of the largest sailing vessels under our flag, when she was hove down and dismasted about a year ago in a cyclone. Captain Nickels subsequently accomplished so fine a piece of seamanship that a short account of the whole affair might not prove uninteresting. The vessel left Philadelphia bound to Hiogo with a cargo of case-oil on August 21, and on September 8, about four hundred miles from the Azores, she encountered a gale which gradually increased to a tremendous hurricane, in the centre of which she became involved; and shortly afterward she was hove on her beam ends and the fore and maintop-masts and mizzentop-gallant-masts, together with all standing gear above the lower mast-heads went by the board. Her condition was really terrible, as all hands were in momentary expectation of seeing some of the broken spars alongside stave in the hull, as the wreckage was battering and thumping furiously against the ship. A steamer was sighted later on,--the “Craftsman,”--which stood by the “Flint” till the weather moderated, and then offered to tow her to New York. This offer Captain Nickels refused, though at their request he transshipped his two passengers, one a Boston and the other a Chicago man, and they returned to New York on the “Craftsman.” It is reasonable to presume that neither of these individuals will ever step over the side of another sailing ship. When the cyclone had passed and the ship had come up on an even keel, Captain Nickels surveyed the wreck aloft and then decided on his course, which was as follows: a part of the spars and rigging having been saved, a foretop-mast was made from a spare spar, and the stump of an old mizzentop-gallant-mast was used for a foretop-gallant-mast. The ship carried a spare fore-yard, the lower foretop-sail-yard was intact, and the upper maintop-sail-yard was utilized for an upper fore; the foretop-gallant- and royal-yards were saved, thus square-rigging the vessel forward. A portion of the main-yard, which was broken, was used for a maintop-mast, leaving the mainmast fore-and-aft rigged. The mizzentop-gallant-mast, which was apparently hopelessly damaged, was fished and repaired together with all the yards below it, so that the vessel was square-rigged forward and aft, but schooner-rigged amidships, presenting a most extraordinary appearance. She looked at a distance somewhat like two hermaphrodite brigs, yet after the repairs had been made, which occupied fifteen days, she was successfully navigated into New York harbor, a distance of two thousand two hundred miles, and on one day logged the extremely good run of two hundred and forty knots. For this fine performance the underwriters presented the gallant captain with a superb gold watch, and well he deserved it, for it was an act of seamanship so bold and unusual as to command the