The building of the propeller HERCULES is the commencement of a new era in lake navigation, and her owners predict for that description of vessels a large share of the carrying trade, especially upon the upper lakes. The HERCULES is 275 tons burthen, 135 feet long, 25 feet beam, 8 feet hold, and put together in the strongest manner. She has 14 state-rooms, 6 feet square, with sufficient additional space for the erection of 46 berths more, and from the peculiar symmetry of the HERCULES, she will doubtless afford ample accommodations for families emigrating. Her space below for storage is large, having almost the entire hull of the vessel appropriated for that purpose. The peculiar feature, however, of the HERCULES, is her engine and its auxiliaries. On examining the machinery, all are struck with the infinite compactness of the steam apparatus, and its perfect simplicity, the whole weighing but fifteen tons. The engine is simple and very small, lies close upon the keelson, and fills but a space of six feet square. It is one of Errickson's patent, was made at Auburn, and is computed to be of 50 horse power. We might here remark that the weight of an engine and boilers for one of our largest steamers is estimated at from 60 to 90 tons- the dead weight of which a propeller escapes carrying. The paddles are made of boiler iron ? inch thick 18 inches broad by 39 long, and are placed on two long wrought iron shafts protruding from either side of the stern post. The diameter of the paddles are 6 feet 4 inches. From the superb manner in which the HERCULES is built and fitted out, having cost nearly $20,000, it is apparent that the Messrs. Hollister's are determined to give the experiment a full and fair trial. Another boat of the same tonnage, for the same owners, is now being built at Perrysburgh, and will be out next month. The Cleveland was launched was launched on the 22d ult., and the fourth vessel of the kind is rapidly progressing towards completion at Chicago.
Ten cords of wood, at a cost of 17, will suffice the propeller per diem; while one of our largest steamers will consume two cords per hour, at a cost of $80 a day. Some of the steamers even exceed this calculation by 33 per cent.