became a close haul, and 'Guinevere' and 'Egeria' still had the wind very light while the others were rejoicing in a breeze, and at the Noman the 'Pleiad' was not more than a mile astern. This state of things, trying to the patience of the leaders, exhilarating and enjoyable to the others, continued until they were off Ryde, when, welcome sight! a breeze from the southward was seen curling the surface of the water. All hands were immediately at work trimming the sails for the new wind, which carried the yachts past Osborne and through Cowes Roads at a spanking pace; the stately 'Guinevere' leading, the beautiful 'Egeria' closely following her, and the fine schooners 'Pleiad' and 'Gwendolin' coming in soon after them. The official timing was 'Guinevere,' 1 hr. 17 mins. 1 sec.; 'Egeria,' 1 hr. 20 mins. 20 secs.; 'Pleiad,' 1 hr. 26 mins. 34 secs.; 'Gwendolin,' 1 hr. 35 mins. 24 secs. 'Egeria' was thus by time the first winner of the Prince of Wales Challenge Cup. It was a curious coincidence in so long a race that 'Guinevere' and 'Egeria' rounded all the principal points--Needles, Shambles, Nab, and winning flag-boat--almost together. The schooners continued well to hold their own against the cutters and yawls in the regattas of the season. The records of this year would be incomplete without some account of the races of the 'Cambria' with the American schooner yachts. After much correspondence a series of three races were arranged to take place in May between the 'Cambria' and the 'Sappho,' then owned by Mr. Douglas, without time allowance. The first race was to be a beat of sixty miles to windward, and it was sailed on May 10. The yachts were towed out to the Nab, and as the wind, a light breeze, was then south-east, they were instructed to sail sixty miles to windward on that course, which would bring them to a point in mid-channel about twenty-eight miles south of Beachy Head. They were started at 8.30, and when round the Owers worked eastward, not very far off the Sussex shore, 'Sappho' quickly showing herself to be the faster vessel. Off Brighton she was about two miles ahead of her opponent, and when they tacked to the southward off Newhaven, she had considerably increased her lead. As they stood off, the wind freshened and went round to the west of south, and with eased sheets they were able to fetch the terminal point where the steamer ought to have been; but, by an unfortunate mistake, it was not in position. The 'Sappho' covered the point about 6.30 P.M., full five miles ahead of the 'Cambria,' and won the race, having, it was computed, sailed about 89 miles in the ten hours.