It was the first competition after the founding of the "America's Cup" event with the deed of gift in 1857.

The New York Yacht Club entered 17 schooners, and the race was won by Franklin Osgood's Magic.

Seventeen American and the English yacht Cambria started at 11.21 A. M. The race was won by Magic, which rounded the home stake boat in 3 hours, 33 minutes, 54 seconds.

The Yachts Tidal Wave, Widgeon, and Alarm failed to complete the race and were ruled out.

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