AT CEDAR LAKE.A Series: of Match Championship YachtRaces.Peru, Ind., July 24 —The first of a series of match championship yacht races occurred at Cedar Lake, which was participated in by the new yacht Phantom, owned by Messrs. Loveland, Reasoner a ad McClintic, Peru; the new yaeht Albatross, owned by J. B. Kenner, of Uun ting ton, and the yaeht Robert J., owned by J. A. Chittiek, of Cedar Lake. The race was over a twenty-mile course, with the racking making-a total of thirty-two miles, the time consumed beinrr three and one-half hours. The Phantom won the race easily, passing* the flag- four and one-half minutes ahead of competitors, threat interest was manifested, people being- present from various parts of the state. For some time there has been in active rivalry, all sides claiming- supremacy. A chang-eble wind rendered the time necessarily slow. The races will be repeated.