THE Spring Races will take place on Saturday, May 26, over the Union course. The expense of providing cups of much value as personal prizes for the members of the winning crews would be too great for the present financial condition of the clubs, since at present all the available funds are needed to buy the boats and to establish the system, as now improved, on a firm basis; and accordingly, the customary pewter trophies will probably be given. The two large cups, however, of which we give some account, confer a marked honor and glory, which renders them prizes more eagerly sought and more proudly held than cups, however valuable, awarded to each man in the boat. There will also be the flag offered by the Crimson as a prize in the six-oar race.