Dreadful Shipwreck In York Bay - On last Tuesday night, about 10 o'clock, a gale sprung up on the lake from the westward, which was more violent than was ever remembered in this place, and proved more awful in its consequences. The fine schooner Prescott, laden with upwards of 5000 bushels of wheat in bulk, and having a crew of five men, besides the captain, and four or five passengers; which had put to sea a day or two before, and which being driven back by an easterly wind, had anchored at the mouth of York Bay, was driven from her anchorage, about two cables length to the southward of the buoy and every effort to get her under sail - on account of the violence of the storm, proving abortive, she was blown on the bar, where she beat with such violence that she bilged and foundered, about two o'clock this morning. The sea making a clean breach over her, swept her boats and deck cargo of barrels away. The crew and passengers took to the shrouds with the exception of three, two of whom were drowned in the forecastle, and the third was frozen to death in the gib shrouds.
Captain Richardson, of the steamer Canada, upon discovering the situation of the wreck, early next morning, put off with his two boats and crew, and succeeded in rescuing the captain and crew from their perilous situation - most of the sufferers had lashed themselves to the rigging, and when found by Captain Richardson, their arms and legs were frozen to the shrouds, rendering it extremely difficult to extricate them - Capt. R. brought them on shore, where they were taken to the house of Mr. Ferham, on the wharf, where several medical gentlemen are now in attendance on them, and it is hoped they will ultimately be restored, with exception of one of two of them, of whom little hope is entertained.
The exertions of Captain Richardson upon this occasion, are beyond praise, and entitle him to the thanks and esteem of every humane individual in the county.
The Prescott was owned by Mr. Macpherson of Montreal, and the wheat was the property of Mr. Geo. Monroe.
The schooners George The Fourth, Lady Colborne, and Lady Hillier, are also on the shore in the Bay. - Courier.