On the 12th a gale was reported as working up the coast, and great hopes were entertained of a fresh wind for the fifth start. Many thought that the American yacht would beat her opponent more easily in a strong wind and rough sea, but they were disappointed, as the sequel proved. When October 13 dawned an easterly gale was blowing up; early in the morning the wind began to pipe and the sea to roughen, and by the time of starting the wind had set in strong and steadily from the east. After some delay caused by an accident to the rigging of 'Valkyrie,' that was speedily repaired on board, the two yachts shot away for a fifteen-mile thresh to windward, the 'Valkyrie' at the south end of the line, and 'Vigilant' at the north end--a fair start. At first 'Vigilant' outfooted 'Valkyrie' and held nearly or quite as well to the wind; but when the windward work was about half finished the wind drew more from the south of east, it soon began to increase in good earnest, and from that moment 'Valkyrie' got further away from 'Vigilant,' and turned the outer mark nearly two minutes ahead. On starting, the yachts had each a reef down, 'Vigilant' a whole reef, 'Valkyrie' a half reef in her mainsail, each her working topsail set, with usual head-sails. After the mark was turned it became apparent that if 'Vigilant' were to win she must work, and, as it proved, no lack of energy was displayed on either yacht. The reef was turned out of 'Vigilant's' mainsail, and her No. 1 club topsail set over it. The storm that had been threatening all day now began to increase, the wind rose rapidly and the sea became very rough. 'Vigilant' gained noticeably on her opponent, and passed her when about half-way to the home point. The contest was now most exciting; the rigging of both yachts was strained to the last degree. Soon after the 'Valkyrie' was passed by 'Vigilant,' her spinnaker, that was torn in setting, became disabled by splitting; another but smaller one was set in its place, but that also soon gave way to the ever-increasing force of the wind. The last three miles of the race were a mad rush for the 'Vigilant'; she carried all the sail that could be spread, and it seemed that an inch more of canvas would carry everything by the board. She gained more quickly than ever on her crippled follower, and crossed a close winner in the midst of the most exciting scene that yachting annals have ever recorded. It is hard to say if the 'Vigilant' would have won had 'Valkyrie' not lost her light sails; but if the latter claims that her race was thus lost, 'Vigilant,' with equal sense of right, can claim that a maladjustment of her centreboard lost her at least five minutes on the beat out.