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The mail to-day came through from New York; with dates of the 27th.

 According to a letter from respectable source' re- ce;ved in New York by Messrs. Dunscomb Beck with. dated Montreal, May 22d, Captain of a um- her vessel just arrived from Quebec, states positively that he saw the ''President making for the Western Island. He left England the 2lst of April, and says he saw the President or 4 days after. "Ths, says the letter ''wil probably appear in print here to- morrow hope the captain is not mistaken" Mon trea papers of the 24th inslusive, make no aluson to the report the contrary, they speak oi the case of the President as hopeless.

 The Quebec Mercury gives the particulars oi the wreck of the ship Misntrel from Limerick, to that nort and the loss of one hundred and forty eight lives This dreadful accident occurred on the Red Island Reef, which the vessel struck about o'clock m the morning.

 "Upwards of one hundred passengers embarked m the boats but their doom was quickly sealed; the vessel sheeIed oh,' into deep water and went down stern foremost so suddenly that the panters of the boats could not be cast off, and the people who had embarked in the boats perished, with their equall, unfortunate companions on board the ship, excep four passengers, who alone of upwards of l5O souls remained to tell the sad tale"

 Only eight persons escaped, passengers and O the crew, including the Captain. There were 4l adult females on board, and 49 children under | years of age-al of whom perished