The star of the watermark is a six-pointed one, measuring 13 mm. from point to point across the star, and the watermarks in the sheet are so spaced that when the plate has been printed in register each star falls exactly on the centre of a stamp. The lateral distance between the stars from centre to centre is 20⅓ mm., and the vertical 24 mm.; these measurements of course correspond with those of a St. Vincent stamp, _plus_ one margin each way. All the stars in the sheet are disposed with two opposite rays in a vertical line—that is when the stamps are printed in the normal position with regard to the paper. Personally we have not much sympathy with the collection or cataloguing of inverted or reversed watermarks, which we think tends to the undue lengthening out and complicating of lists, to no useful purpose whatever, but we may as well mention that the star watermark is to be found sideways on _all_ the St. Vincent stamps printed on this paper. Of course when in this position two opposite rays are in a _horizontal_ instead of in a vertical line. This peculiarity of position in the watermark is not confined to St. Vincent stamps only, among those of the Colonies for which Messrs. Perkins, Bacon & Co. used the same paper, as in 1874 it was noticed by philatelists in the stamps of Antigua. A correspondence about the watermarks of these stamps took place early in that year in the pages of the _Stamp Collector’s Magazine_, and at about the same time the subject was discussed at a meeting of the Philatelic Society, London. Those who are curious in these matters will find all the particulars given in the _Stamp Collector’s Magazine_, vol. xii., where it appears from the letters printed that an idea prevailed that, as concerned the stamps of Antigua, the paper with the star sideways denoted a later issue. The explanation given by the then President of the London Society was that the change in the position of the watermark was due to “the stars being turned when cleaning the plates, or when they became worn.” This was rather far-fetched, not to say grotesque, nor did it succeed in satisfying all the correspondents of the _Stamp Collector’s Magazine_. The true solution of the question is, that as the paper was sufficiently large to admit of the plate being printed on it in either position, the printer was quite indifferent as to how the paper was placed, and were it not that this particular watermark is a symmetrical figure we should doubtless occasionally find it inverted, as well as sideways. A variety of the One Penny, with one point of the star up, was indeed chronicled with “inverted” watermark in the _Stamp Collector’s Magazine_, vol. xii., p. 95, by the same writer who noticed the two different positions of the stars we have just alluded to. The design of the watermark was, however, such that it made no difference which end of the sheet was put first into the press, and it passes our comprehension to know how an _inverted_