The Sun.
London, England, 1864-09-07 00:00:00

YACHT RACE.

A novel and exciting match between two cutter yachts
commenced yesterday on the waters of the Solent. Mr
Josiah Jones and Mr Thomas Seddon, members of the
Mersey Royal Yacht Club, determined to wind up their
year's sailing with a match between their cutters Thought
and Torpid, three days' racing, the vessel winning two days
out of three to be the winner ; each yacht to be sailed with
fore and aft sails only, to be fitted complete, with boats, Ice.'
and to carry in her hold 17 tons of lead ballast ; the winner
of the match to take both yachts, with £2OO stakes. The
Thought, the property of Mr Jones, is 15 years old, timber
built and coppered, 28 tons Thames measurement, and is
celebrated for her racing qualities. The Torpid is a new
vessel, built of iron and steel, by Messrs Summers and
Day, of Southampton, and having been but a short time in
the water, nothing of course was known of her qualities,
except that she was expressly designed and built for a
thorough clipper. The Medina steamer, from Southampton,
was hired to accompany the yachts over each day's course,
and the starting post was to be at the two cutter yachts
Banshee and Astarte (the former belonging to Mr Jones
and the latter to Mr Seddon), moored oft the end of Ryde
pier, the two competing craft starting from between these
two vessels, and finishing their course at the same point.
The first day's racing was twice round the Rcyal Victoria
Yacht Club course, the second round the Isle of Wight,
and the third again twice round the Victoria course. If
one vessel won the first and second day's race, of course
her owner became the owner of both vessels and the money
staked.
The Medina steamer, with a large company on board, and
with the two umpires, arrived at Ryde pier at 10 a.m., and
at 10 20 the vessels were started, the Thought with one
reef down in her mainsail, second jib and foresail, and jib-
headed topsail. The Torpid carried her whole mainsail,
with a balloon foresail. The wind was about W.S.W., fresh,
with a breezy look overhead, and the tide flood. The yachts
on the signal being given ran up their headsails, and, cant-
ing round, commenced their course eastward, the Torpid
being first off and taking a clear lead of two lengths,
The wind lulled somewhat in running down to the Roman
fort staging, and the Torpid, with her larger spread of can-
vass, drew on her antagonist. In hauling np the Wind
after passing the Norman, the wind again freshened, and the
little craft tore along with their lee gunwales well awash.
The wind came in puffs as the Nab lightvessel (the eastern
cud of the course) was neared, at times giving as much as
the vessels could carry, when the Thought would seem to
gain on the Torpid, the latter, however, going along hand-
somely under the pilotage of the well-known Jack Nicholls.
The Thought was under the pilotage of Herbert. The Nab
was reached and jibbed on the port hand as follows :
Torpid, llh smin 17sec ; Thought, 11h finain 48,ec. It was
r ticklish work jibbing over the immense booms with the lee
bulwarks under water, but captains and pilots were old
hands at the business, and it was gallantly done. Main-
sheets wore now hauled well aft as the course was laid west.
ward, the Thought keeping the same sail set, but the Torpid
soon after jibbing sent down her topsail and housed her top-
mast, and was soon found to be doing better without it, and
increasing her lead. The Thought very soon afterwards
followed suit, for her topsail for some time had been of no
great service. In lulling, on passing the Nowell, another
pull was took at main and head sheets. At this point of the
race the Torpid seemed the more powerful vessel of the two,
and to be steadily although slowly increasing her lead. At
llh 35min she went about and made a board inshore, but
the Thought was kept on her reach until llh 46min, when
she made a short board inshore towards the Hyde sand.
The Torpid was now going through the water like a spirit,
winning hand over hand, and utterly belying her name by
proving that she possessed nothing " torpid" in her nature
in the presence of a fresh breeze. When the Thought went
about at 12h 7min in Ryde roads, just to windward of start-
, ins vessels, the Torpid was standing down N,W., with her

PR1CE...—....4d.
STAMPED:....Sd.

head for the west buoy of the middle, the western extremity
of the course, and was walking away from the Thought in a
surprising manner. It was evident that under the conditions
of the weather she was overpowering her antagonist, and,
without any unforeseen accident occurring, the day's race
must be hers. The presence of Penney, too, on board of
her was a sufficient guarantee that no part of the advan-
tage gained by her would be lost if skill and forethought
could prevent it, The wind was now west by south,
steady, and fresh as ever with it, and the harder it blew
the more the Torpid seemed to like it, and danced over
the waves gloriously. The Thought seemed too much
pressed by the head under her second jib, but there would
be no time or chance for shifting it for a smaller one
until the western mark-boat had been rounded. This was
reached and luffed round by the Torpid at 12h 29rn 50sec,
and the Thought at 12h 3Sm 35sec. The Torpid sent up
her topmast and hoisted her jib-heatled topsail for her run
to the eastward, but the Thought's topsail was kept down
as she followed on the same course, In nearing the Noman
the Torpid took in her topsail and sent down her topmast,
while the Thought at the same time sent her topmast on
deck, and made preparations for shifting her jib. The
Torpid had increased her lead in the run to the Noman
under her greater press of canvass, but the crew of the
Thought were doing their best in preparing their vessel for
her work back to the westward in sending her topmast on
deck and in shifting her second jib for her fourth. The
Noman was passed, and as St Helen's Bay was opened and
the vessels hauled up for their course to the Nab they felt
the full pressure of the wind in their sails, and again began
to be somewhat lively in their motions, leaving each a
riband of foam on their track through the tumbling waters
under their sterns, and literally covering their decks with
broad sheets of angry hissing, seas. The Nab was jibed
round by the Torpid at lh 40m 55sec, and by the Thought
at lh 53m 10sec.

There was a nasty roll of sea off the Nab,- but the
Thought was jibbed round in beautiful style, and com-
menced her pursuit of her rival to the westward with her
sheets well in. " A stern chase is a long chase," according
to the old seaman's rule, but the Thought's crew appeared
nothing disheartened as they dashed their gallant little
vessel at the seas in pursuit of the Torpid, which, stiff as a
house under her canvass, was again forereaching in the
amazing style she displayed in the last turning bout to the
westward. The latter vessel was the first to go about, and
made a short bend inshore, but at 2h 5m had again brought
her head in the same direction as the Thought. The wind
was steadily freshening, and both craft had quite enough
of it as they reached over the Warner Shoal, the Thought,
indeed, almost too much of it, as each blast pressed her lee
gunwale under water.
At 2 15 p.m. the Torpid took a reef in her mainsail, and
directly afterwards the Thought was shook up in the wind
and a second reef taken in hers. This was soon followed by
a third reef, the breeze hal increased to half a gale, and the
plucky Thought was being altogether overpowered by the
force of the wind and sea as she plunged her head in the
seas, loading her decks with water, and flinging the spray
over her masthead, The Torpid was known to be somewhere
ahead, but where she was exactly could not well be ascer-
tained, owing to the blinding spray ; but the 15-year old
"crack" was kept at it although all hope of her winning the
day's race, barring accidents, was now gone. The Torpid
could be seen at times in her position ahead, gallantly
slashing along. Her spars might give way certainly, but at
present they were all right, and while they continued so her
game was safe. The Torpid, under her able management,
continued to keep her spars all safe, and at 2 56 p.m. lulled
round the west buoy of the middle, and eased off her sheets
for the goal, where she arrived at 3h 17m 30s, the Thought
following round the buoy, at 3h 15m 30s, and finished at the
goal 20m 30s behind the Torpid.
The Thought was thus beaten considerably in time in her
first day's race, but she was not dishonoured. She was sent
on the race too light in ballast under almost any circum-
stances of wind and weather—the fault of her owner, who
perhaps placed too great confidence in her sailing powers
when she was pitted against a vessel expressly designed and
built to beat her. The weather, too, was all in favour of the
Torpid with her large midship bearings, but had it been
light winds the results of the day's sailing might have been
reversed. As it was, Penney, the pilot of the Torpid, added
another leaf to his laurels as a thorough yacht sailor by his
vessel's victory. To-day the Thought has a chance, round
the Isle of Wight or inside the island, according to the wea-
ther, of yet proving the victor, but it is almost too much to
expect such a result at this season of the year from a really
old craft like the Thought.

The City of London.

The appearance within the last few days of a blue-book
prepared by the Chamberlain of London invites attention to
the state of the Corporation finances, a subject but little
understood beyond the precincts of Guildhall. Of late the
heavy charges imposed upon the civic resources, ample and
buoyant as these are, for extraordinary purposes have occa-
sioned a feeling of uneasiness in the Court of Common
Council ; the subject has more than once given rise to grave
discussion among theta, and the standing committee at their
body whose especial duty it is to watch over the financial
concerns of the Corporation, have again and again enjoined
on them the necessity of caution and moderation. Previous
to the division by Act of Parliament of the coal duties in
1861 to purposes as well without as within the city, the
average revenues of the corporation from ordinary sources
in the ten years ending with 1863 amounted to £212,600 a
year, or about half as much as those of some of the minor
German States. The annual average of late, allowing for
that change, has been £157,100. At the end of last year
the Corporation had, by operations extending over a series
of years, anticipated its income by £323,018 ; in other
words, it was in debt to that amount. That was the exact
excess of its liabilities over assets at that time on its purely
monetary transactions, and but for the fortuitous circum-
stance of the sale at the beginning of 1863 of 20,000 shares
in the Metropolitan Railway, at a profit of £57,437 odd, the
Corporation would have been so much the more in debt.
The sale, by the way, resulted in a net produce of £257,437,
of which the sum just mentioned was clear gain, Against
the debt, however, the value of the Corporation freehold and
leasehold estates, market sites, vacant ground, and public
buildings ought properly to be set, which would turn the
scale greatly in its favour. The li abilities include loans
raised for the purpose of the Metropolitan Cattle-market,
£113,000 ; for the city improvements—viz., New Cannon-
street, £405,000 ; Threadneedle-street, £40,000 ; for meeting
outstanding engagements (Reserve Fund), £350,000 ; for
Pauper Lunatic Asylum, £43,509 ; for Metropolitan
Meat and Poultry Market, site and western approach,
£125,000. There are other liabilities contingent on the
failure of trust funds—namely, loans for Cannon-street
Improvement (temporary), £30,000—and bonds issued for
rebutlding the Royal Exchange, £85,000, and for repairing
Blackfriars Bridge, £53,100. The total amount of liabilities
was £1,582,080 14s 6d at the end of 1863, Of this sum,
£160,000 fell due in the present year, and had to be pro-
vided for, and £200,000 more will become due in 1865. In
less than three years, in fact, the bond debts of the Corpo-
ration have increased considerably upwards of a quarter of
a million of money. At the close of 1861 they amounted to
£1,463,100—0f 1562 to £1,526,100—0f 1563 to £1,578,100—
and at this last-mentioned date contracts had been entered
into with reference to the present year which would raise
the outstanding obligations to £1,772,100, or £300,000
more than they were at the and of 1861. Notwithstanding
that the Common Council have such faith in the elasticity
of the Corporation resources that they were lately urging
the First Commissioner of Works to intrust them with the
making of the proposed new street from 13Iackfriars to the
Mansion-house, in connection with the Thames Embank-
ment, at the estimated cost of about £700,000, the Cham-
berlain has since felt it his duty to direct their particular
attention to the fact that the cash of the city will be over-
drawn by the 10th of October next in a probable sum of
£43,320 odd, caused by an excess of expenditure over and
above the ordinary income of the Corporation, and that sums
amounting in the whole to £121,303 had been recently
voted by them for the extraordinary works or for leasehold
investments, and had to be provided for out of the current
revenue—namely, far improvements of the Guildhall
£26,700—supplementary vote for same, £5,000, for pur-,
chase of an oyster meter's place, £l,ooo—for dwellings
for the labouring poor, £37,015 ; towards improvements in
Newgate-street, £3,000 ; for the Pauper Lunatic Asylum
(supplementary), £20,000 ; for a police station and infirmary,
£13,750 ; and for purchase of leasehold premises in Basing-
hall-street, £14,000. In July last a complaint was made by
the Coal, Corn, and Finance Committee that in consequence
of the neglect of an important standing order of the Court
no provision had been made for meeting that large outlay
of an extraordinary character, except in the case of £26,700
for the repair of Guildhall. Again, the Corporation are
about to expend £420,000 for the site of the proposed meat
and poultry market in Smithfield, and for the construction
of the new street in connection with it, on the credit of the
market tolls, in addition to £200,000 in the erection of the
superstructure, for which latter sum they expect to be re-
couped by the rents of shops in the market. With all this
vast outlay in prospect their leases of the Finsbury estate
will fall in at Christmas, 1867, by which in one swoop they
will for ever lose about £13,000 a year. It would be rather
out of place, perhaps, to
arnedlerinheerreec theinasmuch
tn
a a t prospectivehlcdogs bridge
of
those in raising llolborn-valley,
penditure by the Corporation 0
new
estimated at £600,000,
Blackfriars, estimated at £350,020,
those great works will not be borne out of the current re-
venue of the city, but be chargeable on specific funds, in
the hands of tho Corporation, under the authority of the
acts of Parliament.
The ordinary revenue of the Corporation is derived prin-
cipally from rents, from fines on the renewal of leases, from
the produce of the various markets, of which there are five,
and from duties on corn and fruit. In 1860 it amounted to
£236,783, in 1861 to £202,353, in 1862 to £166,105, and in