ring the continuance of the race. And I
hereby challenge all fast-sailing yachts of over 100 tons burthen, and
under 50, to a 15-mile race dead to windward and back again alive.

(Signed) ASHBURY.

Upon this your reporter manned the yard-arms, fired a salute of 100
guns, and directed the Oar-acular to back water; thereby giving the
_Dauntless_ the lead, which she retained up to the end of the race. By
the clever management of her Tacks she succeeded in completely Nailing
the _Cambria_. On the home-stretch, however, the latter began "eating
up" on her to such an alarming degree, that it was feared the provisions
of the Dauntless would not hold out. By putting the crew on half-rations
of champagne and sponge-cake this awful calamity was averted.

Excited by the presence of danger, your reporter forgot his habitual
caution, and giving his Oar-ist a hearing, made all sail for the
mark-boat. The tow-line was passed from the bows aft, and there attached
to the boat-hook, held by your representative. Upon this impromptu
clothes-line was crowded all the canvas, velvet, linen, and other
dry-goods appertaining to the gallant captain and his self-sacrificing
crew. The latter gentleman might have been seen under this gay cloud of
drapery working fitfully but energetically to and fro. But 't was all in
vain! The _Dauntless_ passed the mark-boat, and the race was won. Won?
But by whom?

The daily papers, with their usual inaccuracy, have made it appear that
the _Dauntless_ was the winner, but among thinking men there is but one
opinion in regard to the matter, an opinion fully explained and
corroborated in the following, published by Mr. ASHBURY, immediately on
the _Punchinelletto_ passing the mark-boat:

_Card_.

I take this opportunity of saying that whatever misunderstanding may
have arisen in the early part of this race as to the position of the
_Punchinelletto_, it is now but just to admit that she has shown herself
worthy, both in point of speed and management, to take rank among the
first-class yachts of the fleet, and I hereby challenge, &c., &c.

(Signed) ASHBURY.

This was further supplemented by a

_Card_ from Mr. BENNETT.

In token of my concurrence in the brilliant success of the
_Punchinelletto_, and my personal esteem for her commander, I hereby
beg to place at his disposal my yacht _Dauntless_, together with all her
stores, ordnance, by-laws, and small arms.

(Signed) BENNETT.

In reply to both of whic