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EPITOME OF NEWS.

Dr. Russell's Report.

The First Fault.

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The First Fault. After telling us how ably the cable was paid, he comes to July 24, when the first defect of insulation was observed, he says :— A feeling of gloom for some time spread over the ship; but the electricians worked away in their dark chamber with unflagging zeal. It was finally resolved by Mr. Canning to cut the cable, having first secured its end to hawsers made fast from the bow, and car- ried round astern, and then to take it in over the bow till the fault was discovered. The operation proved difficult and tedious, and the strain on the wire-rope secured to the cable at times was exceedingly severe; and when the machine began to work the utmost care and nicety were needed to prevent the cable itself being subjected to injury as the ship rose and fell in the sea over the 400 fathoms of iron and copper wire which hung from its bow to the bottom. Meantime Mr.Sanders, oneof the staff of electricians, who devoted much time to the examination of the test currents, arrived at the conviction, conjointly with Mr. Varley, that the injury was not more than ten to eleven miles away. At nine a.m. (of the 25th), when a little more than ten miles of cable had been picked up, to the great joy of the ship, the fault came on board. The cause of all our trouble and anxiety, delay and expense was a piece of iron about two inches long, rather oroobad, and sharp at the end, as if cut off with a nippers from an end of wire, which had been forced right through the coating of the cable and the gutta- percha till it came in contact with the wire. A signal was made to the men-of-war that the fault had been found, and the Terrible signalled back, I congratu- late you.' A disposition to cheer everybody prevailed at breakfast, and preparations for making a splice were at once commenced on deck."

Another Calamity.

The Last and Fatal Disaster.

Raising the Lost Cable.

THE BISKS OF INSURANCE.

THE NEWS BUDGET.