The five boats were let away at 11.32 to a beautiful flying start, Mr Hodgson getting the boats away to programme time, having picked up half an hour. Clio got an ad vantage about a length in advance of Manola, with the Tangaroa, Malanoa, and Toroa together two lengths behind the Manola. Spinnakers were quickly set, and passing H.M.s. Tauranga, Manola assumed lead, closely followed by Tangaroa, Clio, and Malanoa. Manola maintained her lead, and the posi tions passing the North Shore Wharf were : Manola. 1 ; Tangaroa, 2 ; Malanoa, 3 : Clio and Toroa together. Tangaroa is to windward. Tho five boats, with every stitch of canvas set, present a pretty spectacle. When the boats passed tho wharf, the wind came out from the west, and the yachts had to beat to the Sugar Works, which mark was rounded by the

Tangaroa at lhr. 22imin. Manola, lhr. 22min. 50sec. Toroa, lhr. 23min. 30sec, the Manola having gained 40sec on the Tan garoa. On the run to the North Head the quin tette kept well together, W. Holder's crack holding her advantage, while Clio had dropped back last. The yachts went out of sight around North Head ab 12 o'clock., Manola first, Tangaroa second, Malanoa third, Clio fourth, Toroa lost, only 150 yards separating the first and last boats. On returning from the chequered buoy, Manola was first in sight, with the Tangaroa to leeward, about fifty yards astern. Clio was third, closely followed by Toroa, and the Malanoa last. The Manola stood far in to Hobson's Bay, stiil in the van, with the Tangaroa second when the wind veered to the south, the consequence being the Manola got be* calmed, and tho Tangaroa picking up tho wind first, assumed the lead. The flagship was pased by the

On tho run down to the flagship the Manola began to overhaul the Tangaroa, tho Uagahip being passed the first time—* hr. mm. sec.
