The last ships we have constructed for Ismay, Imrie and Co. have been of comparatively moderate dimensions and power--the Arabic and Coptic, 430 feet long; and the Ionic and Boric, 440 feet long, all of 2700 indicated horse-power. These are large cargo steamers, with a moderate amount of saloon accommodation, and a large space for emigrants. Some of these are now engaged in crossing the Pacific, whilst others are engaged in the line from London to New Zealand; the latter being specially fitted up for carrying frozen meat. To return to the operations of the Belfast shipbuilding yard. A serious accident occurred in the autumn of 1867 to the mail paddle-steamer the Wolf, belonging to the Messrs. Burns, of Glasgow. When passing out of the Lough, about eight miles from Belfast, she was run into by another steamer. She was cut down and sank, and there she lay in about seven fathoms of water; the top of her funnel and masts being only visible at low tide. She was in a dangerous position for all vessels navigating the entrance to the port, and it was necessary that she should be removed, either by dynamite, gunpowder, or some other process. Divers were sent down to examine the ship, and the injury done to her being found to be slight, the owners conferred with us as to the possibility of lifting her and bringing her into port. Though such a process had never before been accomplished, yet knowing her structure well, and finding that we might rely upon smooth water for about a week or two in summer, we determined to do what we could to lift the sunken vessel to the surface. We calculated the probable weight of the vessel, and had a number of air-tanks expressly built for her floatation. These were secured to the ship with chains and hooks, the latter being inserted through the side lights in her sheer strake. Early in the following summer everything was ready. The air-tanks were prepared and rafted together. Powerful screws were attached to each chain, with hand-pumps for emptying the tanks, together with a steam tender fitted with cooking appliances, berths and stores, for all hands engaged in the enterprise. We succeeded in attaching the hooks and chains by means of divers; the chains being ready coiled on deck. But the weather, which before seemed to be settled, now gave way. No sooner had we got the pair of big tanks secured to the after body, than a fierce north-north-easterly gale set in, and we had to run for it, leaving the tanks partly filled, in order to lessen the strain on everything.