In 1883 Mr. Gould built the big steam yacht Atalanta, and for several years he was well known in yachting circles. He was elected a member of the Eastern and Larchmont yacht clubs, and applied for membership in the New York Yacht Club. The opposition to his name which was developed in the club was so strong, however, that his friends withdrew his name. This furnished a sensation at the time. George J. Gould, who had for some time taken an active interest in yachting, and was a member of the club, at once resigned. Mr. Gould at one time had an idea of making a cruise around the world in the Atalanta, but abandoned it. Soon after the launching of the Atalanta Mr. Gould and others formed the American Steam Yacht Club. The Atalanta developed remarkable speed and is to-day the fastest large steam yacht afloat. Mr. Gould had her built because he felt his health to be failing, and thought yachting would be beneficial to him. Until within the last two years he spent much time on board of her. She was used principally as a means of transportation between Lyndhurst, his home on the Hudson, and the city, though he made several extended cruises in her. It was not often that Mr. Gould would allow the Atalanta to be raced, but on the occasions when he did permit this she made records. Mr. Gould presented to the Larchmont club a cup, called the Gould Cup, which is raced for every year. He also contributed largely to the International Challenge Cup, offered by the American Yacht Club for competition by steam yachts of different nations. He was always anxious to see a challenge for this cup, but so far no nation has challenged, owing to the great superiority in point of speed of the American steam yachts. Mr. Gould seldom entertained people on board the Atalanta, but when he did entertain, his hospitality was perfect. He had the happy faculty of making his guests feel that the yacht was theirs and he himself was a guest on board. There was an excellently well-selected library on the yacht, and the craft was fitted throughout with quiet and substantial elegance. The Atalanta is 243 feet long, 26½ feet beam and 15½ feet deep. She is built of iron and was designed and constructed by W. Cramp & Son, of Philadelphia. In June of 1886 she ran over the 85-knot course of the American Yacht Club, from Milton Point to New London, in 4 hours, 34 minutes and 57 seconds.