The following remarks and sketch, explanatory of the* manner in* which the Ava was lost, are taken from a new scientific journal published at Calcutta, entitled The Engineer's Journal and Railway Chronicle:— "We give below a rough sketch, kindly sent us by a correspondent, illustrative of the manner in which the P. and 0. Company's steamer Ava was lost. After striking on the rocks, she appears to have broken her back amidships, and then to have gone down. The rock on which she struck is between Pigeon Island and the mainland, about nine miles north of Trincomalee. It is reported that a fishing light was mistaken for the harbor light, which might easily have been the case, because the latter is a disgrace to the fine harbor, the entrance to which it is intended to show. The Ava had on board the only shaft in India that would fit the Alma, The last-named vessel, therefore, will have to wait until a new shaft is ordered, made, and can be sent out from England. The passengers, as our readers are doubtless aware, were all saved, but suffered severe privations. Among them were several refugees, and, we believe, some of the Lucknow garrison, The^reater p?t'of"the mails and the cargo have gone down with the vesspl. In addition to a very valuable cargo there was upwards of 266,000 in specie on board. There is evidently no reason why, with a proper diving apparatus, a large amount, if not all, of the specie should not be recovered. The precise spot where the vessel went dowr is well-known, and there is apparently no difficulty in the matter. The Peninsular and Oriental Company will certainly be very unwise to abandon the wreck without an attempt of some kind being made. If it is abandoned, it will turn out a most profitable speculatior to those who embark in recovering it." . Late advices speak not only of the shaft ol the Alma, said to be worth from 2,000 to 3,000, being recovered, but also of several boxes of specie. When the last accounts left the wreck, the work of recovery was going merrily on, and there appeared eyery reason to hope that the valuable part of her cargo would be saved.—London Engineer,