The result of the race seemed to show that the two yachts were fairly matched, so that if one got a slice of luck the other was not likely to recover without a slice too, or a good streak. The course was better kept; but, although the race was not affected by it, the 'Valkyrie' was favoured by the wash of steamers on the return from the mark-boat. On the third day, October 9, everything promised well; the weather was all that could be desired to test the relative merits of the two racers; the morning bright, with a good topsail breeze, and the white crests on the wavelets gave hopes of great sport. The Club steamer left the pier at 9 A.M.; but on our arrival at Sandy Hook no breeze was there. The steamers were fewer in number; I had, however, no difficulty after the start in counting fifty, besides yachts under canvas. Going down the river we passed one very striking object, the well-known gigantic and magnificent statue of Liberty, which stands on a small island. I must say I never saw anything finer, either in conception or execution. The wind was from the S.W., the course triangular, round marks placed by steamers with a large red ball hoisted, the steamers remaining near to indicate their positions, which were so stationed as to make each side of the triangle ten miles. Both yachts carried jackyarders and jib-topsails. The start took place at 11.30, after some pretty manoeuvring as usual, 'Valkyrie' getting the weather berth, and a little ahead. About 12.30 the wind increased, with a little jump of sea, and both went round on the port tack; here 'Vigilant's' power began to tell. 'Vigilant' bore round the first mark at 1 hr. 6 mins., and 'Valkyrie' 4 mins. 50 secs. later. A broad reach on starboard followed, 'Vigilant' setting her balloon jib-topsail very smartly. Soon after this 'Vigilant' sprung her bowsprit and took in her jib-topsail. The second mark was rounded by 'Vigilant' at 2 hrs. 1 min., 'Valkyrie' at 2 hrs. 10 mins. 3 secs. Now came the last ten-mile reach on the port tack to the finish. The wind piped up still stronger; but 'Vigilant,' though carrying only a small jib-topsail, still increased her lead, finishing a winner at 2 hrs. 49 mins. 3 secs., 'Valkyrie' coming in 12 mins. 20 secs. after her. After deducting time allowance she lost the race by 10 mins. 32 secs. The wind velocities were as follows:-- At the start 10 miles per hour " first mark 15 " " " second mark 22 " " " finish 29 " "