Vessel Launched. - The schooner Cortez was launched from Lee & Navaugh's ship yard, foot of West Second street, at noon to-day. The Cortez is a first class schooner, measuring 138 feet keel, 142 feet over all, 26 feet beam, and 11 feet hold. She is to be used in the grain trade between this port and Chicago, has a capacity of 18,000 bushels, and was built at a cost of about $27,000.
This fine vessel is owned by Messrs. Delos DeWolf and Charles H. Smythe, and was built by James Navaugh, the well-known ship builder, being the second vessel he has turned out for Messrs. DeWolf and Smythe, the present season.
The Cortez, although intended for a trading vessel, is built with an eye to good sailing qualities, and is of a beautiful model. No more staunch and symmetrical craft traverses the lakes, and her owners may well take pride in their fine vessel. The launch was superintended by Mr. Navaugh, and was entirely successful, the vessel moving down the ways with a grace and majesty which would almost make one think of her instinct with life.
In her interior arrangements the Cortez is constructed with a regard for neatness and convenience, as well as strength and capacity, and reflects great credit on her builder. She will commence her voyage as soon as she can be rigged, and long and prosperously may she continue them.