A paragraph has been going the rounds of the papers, in which it is stated that the American contractors to raise the sunken Russian fleet at Sevastopol have given up the project in disgust, and have returned to Coustantinople on their way home. It is stated that the sunken vessels have become so deeply imbedded in the mud and sand brought down by the river into the bay that it is impossible to raise them. On the other hand, the Boston Transcript states that the Marine Exploring Company of Philadelphia, which has the contract for raising these vessels, is under heavy bonds to the Russian governmer.t to perform the work. The Transcript also asserts that this company, iustead of rnnning away from Seva"topol in disgust, has been very successful, and employ several hundred men in the operations. It admits, however, that the Boston Relief and Submarine Company, also at Sevastopol, had ceased operations, and withdrawn all their vessels. This explains the whole matter. Two American submarine exploring companies went to Sevastopol; one of them has failed, the other has been successful.