began to yaw about on the leader's quarter sea, and was half a minute astern at the North Goodwin Lightship. 'Satanita's' was a remarkable piece of sailing, as according to the 'distance table' it is 14-3/4 miles from the Tongue Lightship to the North Sandhead, and she was timed officially as taking just over one hour to do the distance; it should be added that the tide was running about two knots, and setting under the weather quarter, whilst it is worthy of note that between the marks 'Satanita' had two luffs with 'Calluna' and shifted her jibheaded topsail for a jackyarder. In a run to the East Goodwin main booms were carried to starboard, and 'Britannia,' running the nearer to the sands, was placed to cover 'Valkyrie,' when an inevitable gybe came off at the East Goodwin. 'Valkyrie' came over all standing just after passing the lightship, and unluckily for her the parts of the mainsheet got under the counter. 'Britannia' was also gybed in a hurry, and, covering her opponent, she slipped past into pride of place, while 'Valkyrie' was unable to pull her boom in and luff; oddly enough, however, 'Britannia' was in the same mess as her sister, and it was some time ere both had mainsheets running free through the blocks. With the North Sea tide swinging along hot, a fine head of speed was kept up, and about the Calliper head-sails were taking well and spinnakers were got in. Although the wind was quarterly from the Southsand Lightship home, 'Britannia' made but a very trifling gain on 'Valkyrie,' and, according to official clocking, crossed the line with a lead of 17 secs., and, having 13 secs. to allow, thus won with 3 secs. to spare--a remarkable finish of a grand race. 'Satanita' was 5 mins. 52 secs. astern of the leader, 'Calluna' 7 mins. 26 secs., and 'Iverna' 18 mins. 32 secs.