The valedictory match on the river on May 27 proved the best racing test, and furnished the most stirring sport of the trio. 'Valkyrie' was ready to join in, and the fleet was similarly constituted to the opening day. The race was under the Royal London burgee, and was sailed in gloomy weather and a smart north-east breeze. A sensation was served up before the contest proper had been started, and directly after the heavily freighted official steamer had got down to the Lower Hope, through 'Calluna's' mast breaking off short as a Jersey cabbage-stalk. With her whole canvas pile carrying away over the side it was feared some of the crew might be entangled; but luckily everything went clear and no one was hurt. It was 12.45 before the Commodore started the race, and at the time the Hope was full of trading craft. A bulky hopper barred 'Britannia's' way, and both 'Valkyrie' and 'Iverna' had to be shoved up in the wind; and while the two last named were hovering, 'Britannia' stood away for the Kent side into the full scour of the ebb, and came off on the starboard tack in weather berth. 'Valkyrie' had to short tack at the top of Sea Reach to clear her wind, and as a long leg could be made, 'Britannia' reached away with the lead, 'Valkyrie,' half a dozen lengths astern, pointing high for her weather quarter. The wind was puffy and both dropped 'Iverna,' but the two leaders were sailing a grand race, and made a long stretch as far as the East River Middle without breaking port tack. Hereabout, however, the wind suddenly shortened on them from the eastward, and the 'Valkyrie' most unluckily was thrown dead under the lee of 'Britannia.' With the tide soaking them bodily to windward, they both fetched under the Nore Sand, which had to be stood from for water, and by short turnings they then made a fine race to the Nore Lightship. Here they got in deep water, and after a short hitch and a rap-full stretch to clear had failed, 'Valkyrie' went in for short boards of about twenty seconds, and ended by being given lee helm directly she was full. This meant that 'Britannia,' being slower in stays, had not got sheets in before she wanted to go about again, and she would to a certainty have been weathered by 'Valkyrie,' before getting as far on as the West Oaze, had not the Prince of Wales's cutter been treated to longer boards. 'Britannia' then got away and weathered the Mouse, after as fine a display of short tacking as has ever been seen on the river, with a lead of 39 seconds, and the duel had let 'Iverna' get within 10 minutes of the leader. They ran back against the tide with spinnakers to port; but it was dead running, and 'Valkyrie,' edging in to the Maplins, got through into first place above the Admiralty mile. The wind then came off shore, and 'Britannia' at once began to luff in. 'Valkyrie' was determined to keep her weather wind clear, the pair had a match up to Southend, and on keeping away both touched the ground, the 'Britannia' bumping three