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Mr. Win. T. Garner, a rieh cottonprinter of New York, with a select nnmber of invited guests, went out for a sail in his own yacht, tlie Mohawk, in New York harbor, oue afternoon recently ; but when less than half a mile from the starting point, the New York Yacht Club house, on Staten Mand, the vessel was struck by a strong gust of wind and eapsiced. All sails were set, end the wind striking the sai Is f orced the yacht on her beam end, and tho cabin fllled with water in ten minutes. There were on board W. T. Garner, owner, his wife, Prost Thorne, brother of Mrs. Garner, two young ladies, Misses Hunter and May, and three gentlemen friends, with a crew of fifteen or twenty men. Mr. Garner and guests were all in the cabin when the vessel was struck, and Miss May was pushed up the companion-way and supported until she was rescued. Mr. Garner lost his life in a heroic effort to save Mrs. Garner and Miss Hunter, who were crushed in between the furniture of the cabin, and a Mr. Crosby, after rendering courageous assïstance to Mr. Garner, was ingulfed in the cabin, but floated out through the skylight after tearing himself from 'the crushed and drowuing Mrs. Garner, whoni no efforts could save. A large number of boats went to the rescue. The crew of the Mohawk seemed paralyzed, and all efforts to get at drowning persons before life was extinct proved unavailing. Great excitement was occasioned at Staten Island by the seemingly avoidible accident, and sailors were especially oud in their denunciation of the manuer in which Sailing-Master Bowland ïandled the yacht. The crew had f uil warniiig of the storm, yet waited with top-sails set, and as the anchor had been only tripped, and was not hauled up, the yacht, with all sails set, was at the mercy )f the squall, and upset as easily as if it ïad been a paper boat. The Mohawk was a large, staunch schooner-yacht, and at favorable position in the harbor, within a short distance from shore. Seamen think she could have met with such a calainity only through the greatest negligence of the sailing-master or crew. Ofcher yacnts with mainsails but not topsails rode out the moderate storm without an indication of danger. Wm. T . Garner was 32 years of age at the time of his dealh. He was a í on of Thomas Garner, the Englishman who came to this country when a young man and began the manufacture Of print cloths, of which at the time of his death, in 1865, ho was the largest producer in the world. In early boyhood young Garner entered the establishment of his father, and grew up with a thorough and practical knowledge of the business, which, later in life, he controlled. By his father's death he inherited a fortune, which he himself. stated to be valued at from $15.000.000 tO 20.000.000. Mr Onrnnr was the liead of the large print manufactory at the corner of Worth and Hudson streets, and also of the house known as Garner & Johnson, on Fourth gtreet, New York. Besides his business in the metropolis, he had' flve large cotton milis in Cohoes, others in Kochester, Little Falls, Pleasant Valley, Newburg and Beading, Pa. ; also print works at Wappenger Falls and Hagerstown, having in his employ from 7,000 to 8,000 persons in clotk printiug. He employed 42 machines, being doublé the number used by any other manufacturer or oorporation in the country. His individual ownership of mili property was fuily equal to one-quarter of the en tire Fall River manufacturing distriot. There is probably no single man connected with the cotton manufacturing interests in the world whose loss will make itaelf more generally feit.