In this way the peculiar dangers attaching to low freeboard, especially when associated with a high centre of gravity, have been pretty fully made known, but the character of the stability which is often to be found associated with very light draught appears to have escaped the attention it demands. Light draught is often as unfavourable to stability as low freeboard, and in some cases more so. These truths were forced into prominence at the inquiry held by Sir E. J. Reed on behalf of the Government into the disaster which befell the _Daphne_, a screw-steamer of 460 tons gross register, which capsized in the middle of the Clyde immediately on being launched from the yard of the builders, Messrs Alexander Stephen & Sons, Linthouse, on July 3rd, 1883. Sir E. J. Reed, in his exhaustive report, published in August, 1883, emphasised the lessons adduced at the inquiry as to the peculiar dangers attaching to light-draught stability; and Mr Francis Elgar, (now Professor of Naval Architecture in Glasgow University), who was employed to make investigations respecting the stability possessed by the _Daphne_ at the time of the disaster, did much to guide consideration of the subject into this channel. In a letter to the _Times_ on 1st September, 1883, Mr Elgar, by way of explaining portions of his evidence at the inquiry, called attention to the relation which exists between the righting moments at deep and light draughts in certain elementary forms of floating bodies, his communication throwing further light on the subject of light-draught stability. It appears that the fundamental proposition which underlies the variations in the stability of a floating body with draught of water had never before been demonstrated or enunciated. It will be readily understood that a curve of stability for a given draught of water and position of centre of gravity ceases to be applicable if changes are made in the weight and consequent draught of water of a ship or the position of the centre of gravity, or in both. Now in mercantile steamers, from the extremely light condition in which they are launched to the uncertain loaded condition of their daily service as cargo-carriers, the variation of draught is very considerable, and imports into the subject considerations which do not obtain to any great extent in war ships.