The illustration in Fig. 121 is of the _Valhalla_, which, like the _Sunbeam_, has auxiliary engines and is one of the largest and finest sailing yachts in the world. Under the ownership of the Earl of Crawford she has made lengthy voyages to distant countries, and was one of the fleet which raced in company with the _Sunbeam_ from the U.S.A. to the Lizard for the German Emperor’s Cup, obtaining third prize, and doing the passage across the Atlantic in 14 days 2 hours, using sail only. She was built in 1892, and was first rigged as a privateer of a hundred years ago with stun’s’ls. She even had her ward-room, gun-room and armoury after the manner of the naval ships of a century ago. In the accompanying illustration she is seen with courses, topsails, t’gallants and royals. But when she came into the hands of Lord Crawford the stun’s’ls were abolished, and she was given double topsails instead of single so as to facilitate her being worked with less labour. The old-fashioned deck arrangement below was also entirely changed. This handsome 1490-ton yacht has recently been sold, and left English waters to become an American training-ship. [Illustration: FIG. 122. THE AMERICAN CUP DEFENDER “COLUMBIA.” LAUNCHED IN 1899. _Photo. West & Son._] Although American yachting existed long before the races for the America Cup, yet these contests have given an enormous fillip in the United States to the building of cutters as apart from their fast schooners. Such vessels, built to defend the Cup, as the _Defender_, launched in 1895, the _Columbia_ in 1899 (see Fig. 122), the _Constitution_ in 1901, and the _Reliance_ in 1903, are about 90 feet on the load water-line, and carry about 13,500 square feet of canvas; though when _Reliance_ beat _Shamrock III._, the former carried over 16,000 square feet. But the most popular American large racing cutters are the 70-footers. In build the Americans have been accustomed to use lighter scantlings than we on this side of the Atlantic. _Meteor_, in Fig. 123, the well-known schooner belonging to the German Emperor, was the product of an American yard. The photograph here reproduced was taken while she was racing for the King’s Cup inside the Isle of Wight. [Illustration: FIG. 123. THE SCHOONER-YACHT “METEOR.” OWNED BY HIS MAJESTY THE GERMAN EMPEROR. _Photo. S. Cribb._]