PENZANCE.—On the 25th February the schooner Mary James of Fenzance was being taken into the floating dock when the W. gale caused her to part her warp, and being light she immediately drifted out of the harbour and towards the Cresser reef about four hundred fathomsMistant.

The Life-boat Elizabeth and Blanche was launched at 7.25 P.M., and reached the vessel just as she had brought up to two anchors about fifty fathoms from the reef.

The crew of ten men decided to leave her, and were landed by the Life-boat at 8.15.

About two hours later the wind shiftedtowards the N. and decreased in force, and the schooner was then taken back to the harbour..