The owners of the ship " Sovereign of the Seas," of New York, having bantered the world for a race, W. H. Webb replies that he accepts the challenge, and is ready to bet the sum of ten thousand dollars on the ship " Young America" (the last of his construction) , commanded by Captain Babcock—the trial to be made on the terms proposed, viz., from New York to San Francisco, both vessels loaded, and to sail together or within thirty days of each other. The opening ot the railroad from Savannah to Columbus, which unites the Savannah and Chattahoochee Rivers, was celebrated on Friday, May 20th.