[Argus, July 20.] By a more coincidence, probably, tho time table of the two leading steamship companies engaged m the intercolonial trtido had been so arranged that two of the fastest and beat known of the intercolonial steamerß were to leave Queen's Wharf at the same bonr yester day. Of the vessels referred to — ono was the Adelaide, which has qnite a remarkable re putation for faat passages, for "lowering records " m tho bay or at sea, find for leaving any others which'mny be beside her for a moment considerably m the rear m a short time ; the other was the Union Steamship Co.'s ss, Hotomahana, which is generally reputed to have a great reserve of boiler power which has never been fully utilised yet, and which; if employed, would render her rate of speed considerably greater than any other inter colonial steamer. fSThe Adelaide had iignred m a race with tho Wairarnpa, another New Zealand steamer, early m 1882, with a very sensational result. Tho race, it will be remembered, afforded matter for thrilling details, and it was related that one steamer was seen waiting for tho other m the fairway, her steam blowing off furiously at the safety-valves, tbatjthe electric lights were put out so as to avoid diminishing the works of tho engines, that dense clouds of smoie were: issuing from tho funnels of both, mingled with sparks, and occasionally a rush of flameß, and that the vessels were going side by side at the last inch of their speed, while " cheers and counter cheers rent the air," among the passengers, until a collision which took place between the two vessels, converted the enthusiasm into alarm andpanic. Then followed the enquiry, at which enough was elicited to prove that racing had occurred and brought a collision, the consequences of which might easily have been more serious than they wero. The Steam Navigation Board therefore considered it their duty to pass a severe censure on the two captains, and to inflict on the captain of the Adelaide, upon whom special responsibility was cast by the regulations from hia being the " overtaking " boat, the additional punishment of two month's suspension. Yesterday's contest was divested of excitement of the former occasion but had been the matter of comsiderable dis cussion on both steamers. 