The breeze steadied down during the dark hours, and the 'Valkyrie' had a day just to her liking. 'Iverna's' well-known racing banner was missed for the first time in the season, owing to her rudder-head being twisted. Spectators were treated to a magnificent light-weather match between the 'Valkyrie' and 'Britannia.' The former took the lead directly after the flash of the starting gun, but she did not seem to ghost along in the usual peerless style. 'Britannia' was with difficulty kept pinned under the lee; in fact, it was evident that 'Valkyrie' could not allow her opponent a cross-tacking chance, or her quarry would certainly have slipped her. The breezes were paltry and patchy, with plenty of white water spots about, and the course was shortened to the extent of one third the distance, 'Valkyrie' eventually crawling home winner about three lengths ahead of 'Britannia,' although there was 1 min. 56 secs. difference between them in time. 'Calluna's' big sail-plan availed her little, and 'Satanita' never once really woke up in the prevailing zephyrs. 'Calluna' finished 16 mins. 53 secs. astern of 'Valkyrie,' and 'Satanita' struggled in against the tide 8 mins. 6 secs. after 'Calluna.' There was a piping breeze from the westward on the opening day of the Royal Irish Regatta, and a stirring struggle with 'Satanita,' 'Britannia,' and 'Calluna' for Her Majesty's Cup was accordingly anticipated. 'Calluna' risked a whole mainsail, but 'Britannia' and 'Satanita' had the baby reef in and all set jibheaded topsails. Perfect judgment was shown on the 'Satanita' and 'Britannia' in manoeuvring for the start, but 'Satanita's' skipper scored first honours as he gave his ship a wipe away at the nick of time, and she reached through the line, fairly foaming a length ahead of the Prince of Wales's cutter, 'Calluna' being about a hundred yards astern. They went along the wind at a tearing pace to the Muglins Mark, jib-topsails being cracked on, and on going to the Kish the wind was brought on the quarter, a nasty roll tried spars and gear, and an ugly gybe came on before making the Lightship. At this mark 'Satanita' had given a startling illustration of her speed with a free sheet, as she led the 'Britannia' 2 mins. 5 secs., with 'Calluna' only 19 secs. astern of the latter. A very fast piece of close reaching was done between the Kish and the Rosebeg, then came a dead peg across the Bay. 'Britannia' tried hard to get 'Satanita' into short tacking, and the latter, having to turn about more often than suited her, found 'Britannia' settling up, enabling 'Calluna' to profit by the game her opponents were playing. In a hard squall the second round commenced, and through a backing of the wind they had a run with spinnakers to the Kish. A gybe had to be made, and it was a heavy one. 'Satanita' and 'Britannia' got their booms over all right, but 'Calluna's' came in a hurry, and while the boom-end was buried deep in the water, the