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EPITOME OF NEWS.

Dr. Russell's Report.

The First Fault.

Another Calamity.

The Last and Fatal Disaster.

Raising the Lost Cable.

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Raising the Lost Cable. "After a brief consideration," says Dr. Rsssell, Mr. Canning, whose > presence of mind and self- possession never left him, came to a resolution to make an effort to continue his task (all but egregious folly, as it seemed), and to seek for the cable in the bottom of the Atlantic; to get out his grapnels and drop down on it and pick it up again. The weather was beautiful, and although there were no soundings, and the depth beneath us was matter of conjecture, it was settled that the Great Eastern should steam ten or twelve miles to windward, and eastward of the position in which she was when the cable went down, out with the grapnels and wire rope, and drift down across the track in which the cable was supposed to be lying. And now came forth the grapnels, two five- armed anchors, with flukes, sharply curved and taper- ing to an oblique tooth-like end, the hooks with which the Giant Despair was going to fish from the Great Eastern for a take worth, with all its belongings, more than a million. The ship stood away some thirteen or fourteen miles from the spot where the acoident occurred, and thes lay to in smooth water with the Terrible in company. The grapnels, weighing three c wt., shackled and secured to a length of wire buoy rope, of which there were five miles on board (break- ing strain calculated at ten tons), was brought up to the bows, at 2.30, ship's time, was thrown over, and whistled through' the sea a prey to fortune. At first the iron sank but slowly, but soon the momentum of descent increased so as to lay great stress on the picking-up machinery, now rendered available to lowering the novel messenger we were sending down armed with a warrant of search for the fugitive hidden in mysterious caverns beneath. Length flew after length over cog wheel and drum, till the iron wires, warming with work, heated at last so as to convert the water thrown upon the machinery into clouds of steam. Away new the wire strands length after length. One thousand fathoms fifteen hundred fathoms two thousand fathoms-hundreds again mounting up, till at last the strain was diminished, and at 2,500 fathoms, or 15,000 feet, the grapnel reached the bed of the Atlantie, and set to its task of find- ing and holding the cable. Throughout the night drove the Great Eastern over the Atlantic, drag- ging in her course the grapnels and two miles and a half length of line with which she was fishing for the lost cable. When morning came, and when she was supposed to have gone beyond the track of her prey several miles, the watchers of the line, who had once ere dawn been joyously agitated by the news that the grapnels were holding, and as it proved deceived, prepared to haul in the wire rope and seek their fortune. At 6.40 a.m., Greenwich time, the picking-up machine, reinforced by the capstan, eventu- ally was set to work to haul up the line, which bears a strain of ten tons. At first it came up easily, and the dynamometer showed only a strain of 18 cwt., but the resistance of the rope rapidly increased till it reached a point indicated by 70 cwt. At 7.15 a.m. 100 fathoms had been recovered. At 7.25 200 fathoms, the strain inoraasing to 75 owt. At eight a.m. 300 fathoms were in, and it became evident to all on board that the grapnel was holding on and lifting something' from the bottom. And what could that something be but the cable P The scientific) men calculated the strain and determined it could not be £rom tko tviro Mpa and grapnel solely, and it could only be inferred then that, as the bottom of the Atlantic is free from rocks here, and as the depth at which the rope began to resist agrood with the supposed soundings, it had really grappled the prize. At 8.9 the spur wheel of the picking-up apparatus broke, and the operation of taking in the rope became dangerous as well as difficult, for it flew up at times with such force as to knock down those near it, and one of the most valuable of Mr. Canning's staff received a severe cut on the cheek, and another had an ugly injary inflicted on his face from that cause. The hawser toiled and pulled as if it were a. living thing, and stuck out at a considerable angle from the bows as if it were towed by some giant force underneath and away from the steamer. When 500 fathoms were on board, the most sceptical admitted the cable must be on the iron hooks, and anxiety and suspense rose higher just as the probability of re- covering the cable became less wild. But at 3.20, ship's time, all our fears and hopes were abruptly ended. The drum new round rapidly, the tail of the rope flourished in the air as it now on board, and with a light splash the other end divided into the Atlantic. One of the iron swivels had yielded to the strain. The rope used was divided into lengths of 100 fathoms, each having a shackle at the end with a heavy iron swivel. The head of the bolt of one of these had been drawn right through the iron collar as 900 fathoms had been secured. Not a moment was lost in deciding what measures to pursue. It was rather en- couraging than the reverse to have made the trial so abruptly concluded, for it was demonstrated that the grapnel could pick up the cable in more than 2,000 fathoms, and the only question now was whether the wire rope or the cable itself would bear the purchase and weight of hauling up from such vast depths. There was wire rope enough left to make another attempt to save the cable." Another attempt was made, and then another, with what result our readers are aware.

THE BISKS OF INSURANCE.

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