The standing rule which specially distinguishes this club is that all money received shall go towards racing expenses and prize funds. The consequence follows that, limited though the club is to 300 members (there were 200 in 1864), it is able to provide good prizes for all classes, and can show more sport for its money than many another richer club which is hampered with a house. The proof of the pudding is in the eating, and the success of this homeless club, as many have called it, should read a really useful lesson to the committees of all young yachting or other sporting communities, not to be too anxious about bricks and mortar or entering on the responsibilities of housekeeping. In 1868 another new feature, which at once became popular and is so to the present day, was started by Mr. G. B. Thompson. This was a series of matches to be held each year for yachts manned by amateurs only; and it is in some of these races, which have taken place during the past quarter of a century, that the capabilities of the members have prominently appeared as first-class able seamen. This season, however, will always be remembered for the race that was sailed on June 1 by the 2nd class yachts--viz. those over 25 and under 40 tons, in which the 3rd class yachts were allowed to enter at 26 tons. The 'Xema,' 35; 'Vampire,' 20 (rated at 26); 'Echo,' yawl, 37; 'Secret,' 31; 'Kilmeny,' 30; 'Wavecrest,' yawl, 35; and 'Amberwitch,' yawl, 52 tons, started. Three paid hands were allowed to each yacht. The course lay from Kingstown Harbour, round the North Bar buoy, Kish Lightship, and the Hauling buoy in Kingstown Harbour--twice round, to start from moorings. Though the weather was anything but satisfactory, all the morning had been fine, and there had been scarcely any wind, so that light muslin, in the shape of large topsails, balloon foresails, and big No. 1 jibs, was donned by all the competitors, at all events for the reach out to the Bar buoy. The old 'Bat' was the first to get away, but she was soon overhauled by the 'Echo,' the rest following in line abreast. As the day grew on, the wind, from being shifty and all over the place, gradually settled down from the eastward, and the 'Wavecrest' being the first to feel the true wind, she very naturally made use of it, and went through her vessels as if they had been at anchor. She was not allowed, however, to have the game all to herself for many moments, as the 'Amberwitch' and 'Xema' were soon on her track, while the 'Kilmeny' and 'Vampire' indulged in a luffing match, and almost allowed the 'Secret' and 'Echo,' which were doing rearguard, to overtake them.