The Manhattan Athletic grounds ought to be the scene of some lively contests on May 24th. The colleges, both great and small, are making extensive preparations, and a large field of entries is assured. The track, as our article of yesterday explained, is a new one and has been kept in the very best of order. The number of entries and the character of the track lead one to expect not only well contested races but some very fast time. Every man to win will have to exert himself to the utmost; and, on a fine track, such exertions ought to succeed in lowering some of the records. The bicycle race also promises well, as more colleges than ever are to send men. As the present college record is by no means fast, this record will probably be lowered more than any other. Harvard, despite the losses in her Mott Haven team, ought to do her share in this work of record breaking. We have plenty of good material and we can safely intrust our reputation in their hands, if the present efforts of the gentlemen in charge are continued.