In mentioning these well-known names, it would be impossible to forget a name which will always be linked with the year 1892--viz. Mr. J. H. Nicholson, jun., of the firm of Messrs. Nicholson & Sons, Gosport, the successful designer of the 5-rater 'Dacia' and the 2-1/2-rater 'Gareth.' His boats are unique, and though they partake of the canoe form, still it is the shape adopted by Mr. Nicholson for his keel, and the design itself, which brought his name so prominently forward during the season of 1892 as one of the most successful designers in England. The 5-rater 'Dacia,' which he designed and built in 1892 for Mr. H. R. Langrishe, and which now belongs to Lord Dudley, proved herself far superior in all weathers to the yachts of her rating in the South. Most of the raters were designed with a square stern above water, whatever their shape might have been below; but the 'Dacia' is counter-sterned, and carries her ribbands fair from stem to taffrail, as far as can be judged from a long-distance view when she was hauled up. Whatever her length may be on the L.W.L., it must with a large crew aboard be so considerably increased as to almost make her another boat. At all events, she is a fine specimen of the advanced type of rater, and is good in all weathers. The 'Natica' and 'Red Lancer,' 5-raters by Mr. Watson and Mr. Fife, jun., must not be passed over unmentioned. Both these yachts belong to Belfast, which is at present the home of 5-rater racing. In the Clyde, where 5-tonners and 5-raters were once the fashionable classes, there is now not a single representative. The 'Red Lancer' is a fin-keel shaped vessel with great angle of sternpost, from the heel of which to the stem-head the line is run in a very easy curve. She has a very long counter, more than a third of which is submerged; but she is very pretty as a design, and though not of large displacement, is very roomy both on deck and below. She was originally fitted with a centreboard, but as it was not considered of any material benefit to her, this was taken out and the hole in the keel filled up with lead. The 'Natica' has a spoon bow, and is one of Mr. Watson's prettiest models as far as the modern racer can be termed pretty. She has been very successful in the North, and as great curiosity was felt regarding her capabilities when compared with the South-country boats, she sailed round, and met the 'Dacia' at Torquay Regatta, where the best of three matches were won by 'Dacia.' It would have been better, perhaps, had the matches taken place off Holyhead--_vide_ the case of the 'Vril,' 'Camellia,' and 'Freda'; however, there is no reason to disparage them as not giving a true indication of the respective merits of both yachts. So many races come off, both on the Solent and on the Clyde, in numerical comparison with what took place a few years ago, that the owners of small yachts rarely care now to go far away from home on the chance of obtaining sport when it lies comfortably to