VOL. XVII., No. 1....[NEW SERIES.]...._Twenty-fifth Year_. NEW YORK, SATURDAY, JANUARY, 1, 1870. * * * * * A HAPPY NEW YEAR! Is the heartfelt wish conveyed in this beautiful and unusually large number, to each and all of our friends and readers This holiday number is worthy of note not only on account of its size, its rich table of contents, and profuse illustrations, but because we publish this week the largest edition ever sent out from this office. Our readers may be surprised at our publishing the title page of the volume again this week but they will please observe it is the title page of Vol XXII, which we are now commencing The title pages will hereafter be published with the first instead of the last number of each volume, so as to bring it in its proper place for binding. Subscriptions are pouring in from all parts of the country in the most encouraging manner. Many have already secured the prize engraving, by sending in the requisite number of names-but we feel obliged to confess that there is now a considerable want of vitality in the competition for the cash prizes. We expect however, that as soon as the new year's greetings are fairly exchanged, that this opportunity to receive some purse money will attract the attention of our enterprising readers The times may be a little close just now, but we are confident that the spring will open joyously, and we are quite sure that the people will still want to know what is going on in the GREAT WORLD OF INDUSTRY, which, it will be our duty to chronicle. All lists intended to compete for the cash premium must be marked "Cash prize list." Once more we say a "Happy New Year" to all. * * * * * THE SUEZ CANAL NOT YET A FAILURE. The daily press is giving currency to a great many facts in regard to the present incomplete condition of the Suez Canal, and some journals are arguing therefrom that it is a failure. As yet, ships of heavy draft are unable to get through it. Some disasters to shipping have occurred in the Red Sea after the canal has been passed, and it is not at all improbable that more troubles will arise before everything goes smoothly.