and it would have been suicidal for her to have turned about in the body of the tide. The alternative was sailing hard to get the wind clear to leeward; but when 'Valkyrie' came round outside the edge of the tide rift, 'Britannia,' drawing a foot less water, was able to cast about dead in the wind's eye of her rival. A grand breeze squeezing trial went on right up Sea Reach, 'Valkyrie,' although the quicker of the pair in stays, getting now and again a staggering weather bower. It was a racing treat, however, and, despite the duel, the 'Calluna' and 'Iverna' were getting a hollow beating. The breeze freshened with the flood, and from off Shellhaven 'Britannia,' which was a bare hundred yards to windward of 'Valkyrie,' was, on starboard, pointing clear of the Blyth, and did not therefore follow her rival on an inshore cast. After passing the Lower Hope point, sheets were checked, jib topsails and balloon staysails were set, and, with a puffy breeze broad off the Essex side, they went straight up the fairway pushing on a big bow wave. 'Britannia' going thus free was dropping 'Valkyrie' a trifle, yet the race looked open until 'Valkyrie's' bowsprit snapped short off close to the stem head. She was eased in to the weather shore, and her topmast saved in a wonderful way, and eventually she followed 'Britannia' home. 'Calluna' had split her big jib across the diagonal seam in Sea Reach, but got another set, and looked likely--consequent on 'Valkyrie's' mishap--to gain second honours. An attempt, however, to pass inside the Ovens ended by 'Calluna' sticking deep in the mud, and 'Iverna' got home soon enough to save her time on 'Valkyrie.' This, the first race, was a fair trial to leeward and to windward, and it showed 'Britannia' and 'Valkyrie' to be wonderfully evenly matched, while 'Calluna's' _début_ was disappointing. [Illustration: 'Iverna,' 1890. (John Jameson, Esq.)] [Illustration: Lines and midship section of 'Iverna.' Dimensions, &c.: Length (on L.W.L.), 83.50 ft.; beam, extreme, 19 ft.; depth, 10.70 ft.; tonnage, registered, 84.40 tons; tonnage, y. m. 152 tons; Y.R.A. rating, 118 tons. Designed by Alexander Richardson for John Jameson, Esq.]