About 12.20 P.M. on the 10th February the Coxswain of the No. 2 Life-boat observed the Billy-boy Annie, of Grimsby, being towed over the bar outward bound, when the tow-rope suddenly broke and the Billy- boy drifted rapidly towards the North Bank. Knowing the danger, especially in such bad weather—there was a strong S.S.W. breeze, with a rough sea—he assembled the crew of the Life-boat Leicester, and launched to the assistance of those on board. On arrival it was found that the vessel had anchored, but she was bumping heavily. With all despatch the Life-boat conveyed another tow-rope to the tug, which had stood in as near as possible to the vessel, and she was towed off the bank and back into the harbour accompanied by the Life-boat..