LYNMOUTH, NORTH DEVON.—A schooner, The Saint, of Euncorn, bound from France for Portmadoc with hay, straw, and ballast, having been dismasted off The Smalls in a N.W. gale on the 5th January, was taken in tow by a large steamer; but on the 7th January, at 8 P.M., the tow-rope parted, and the two vessels lost sight of each other in a hailstorm. The steamer searched for hours, but was unable to recover the schooner, which drifted towards the rocks bounding Lynmouth Bay, and -was observed at 9.50 P.M. by the assistant coxswain of the Life-boat. In ten minutes the Life-boat was launched, proceeded through a very heavy sea, and with great difficulty, the boat being frequently filled with water, reached the vessel and took off her crew, consisting of five men. The schooner held to her anchors, the gale having abated, and on the following day the Life-boat again went to her, the weather being still too rough to allow any ordinary boat to go to sea, put the crew on board again, and rendered other services, and ultimately she was towed away by a steam-tug, and was taken to Cardiff..