The races for the America cup will have been decided before you receive this, The season on this side this year has been in many respects an unsatisfactory one. In the first place, the Constitution, designed by the "Herreshoffs and pla ned to outsail the Columbia, the last defender of the cup, proved at least a lack of superiority in a series races and made it seem desirable to trust the defence to the tried Columbia rather than to the uncertain Constitution. The Independence, built by a Boston stockbroker. Mr. Lawson, gave a very poor account of herself in the early races, but later, in a series of rather infor~ mal trial races, showed that she was a competitor not to be despised. The personal
Text read from the printed page and cleaned; old type leaves the occasional error.