From the Cork Southern Reporter.

At daybreak on Thursday, morning the Raleigh, 50 guns, commanded by Sir Thomas Herbert, entered the harbour, and fired, with beautiful precision, a salvo of eleven guns, to salute the flag of Admiral Sir Hugh Pigott, which was hoisted on board the Myrmidon, steamer, a craft by no means entitled to such a distinction ; but obtaining it, to use an Irish phrase, " for want of a better." The arrival of this beautiful frigate, built from the design of Mr. Fincham, master shipwright at Devonport and generally admitted to be, next the Vernon, the handsomest and fastest in the British navy, was considered the harbinger of all the others ; and so it proved, for at half-past three a large ship, with all canvass set, was seen at the harbour's mouth, and nearing the anchorage. She was signalled to be the St. Vincent, 120 guns, bearing the flag of Commodore Sir Francis Collier, in command of the fleet. Within the next two hours the other ships of the squadron had arrived, presenting such a beautiful and attractive sight as was scarcely ever witnessed in Cove before - the light winds which prevailed requiring every inch of their snowy canvass to be set, as they glided gracefully over the tranquil waters, and took up a position in line along what is called the Man-of-War Roads - the steamers lying closer in shore, and in the channel between Haulbowline and the Columbine Quay. The following is a correct enumeration of the vessels now in the harbour forming the " Squadron of Evolution" :

St. Vincent, Captain John Shepherd, 120 guns, 2612 tons burden, bearing the flag of the Commodore in command, Sir F. Collier.

Trafalgar, Captain J. N. Nott, 120 guns, 2694 tons burden. This magnificent ship attracted much attention, from her beautiful and correct nautical proportions. A striking bust of Nelson, in full uniform, constitutes her figure head, and her stern galleries afford what may be styled almost a" marine parade" for the officers.

Queen, Captain Sir H. Leeke, 110 guns, 2103 tons burden, built under the directions of the surveyor of the navy. Sir W. Symonds, and carrying the flag of Sir J. G. Bremmer. The admitted superiority of this noble ship caused attention to be generally directed to her, and in truth she looked like one not likely to, j disappoint the highest expectations. A magnificent figure of her Majesty, crowned with the regal diadem, graced her bows, and during the whole of yesterday hundreds of' boats surrounded her, conveying anxious, groups of visitors, or those itinerant dealers in miscellaneous wares, who are ready either, to buy or. sell, as the taste or inclination of "Jack Tar" may direct him. Her large and effective band performed on the quarter deck the whole afternoon.

Rodney. 92 guns, Captain E. Collier burden 2625 tons; built under the direction of Sir R. Seppings

Albion, 90 guns, Captain Nicholas Lockyer , burthen 3099 tons. The Albion was an old favourite in Cove, having been for several months as flag-ship on the Irish station. She had of coarse plenty of small craft in attendance, and many of her officers and crew renewed their acquaintances soon after she entered the harbour.

Superb, 80 guns, Captain A. S. Carry, burden 2589 tons.

Vanguard, 80 guns, Captain Willes. burden. 2589 tons. This beautiful ship was also for some months flag-ship at Cove.

Belleisle. 74 guns, Captain Kingcombe. This vessel only joined the squadron for the first time yesterday morning

Brilliant, 22 guns, Captain R. B. Watson, burden 954 tons.

STEAMERS.-

Retribution, Captain Lushington, 10 guns. 800 horse power. 1847 tons burden.

Gladiator, Captain Robb, 8 guns, 430 horse power, 1100 tons.

Scourge, Captain Caffin, 6 guns, 420 horse power, 1124 tons

Devastation. Commander Crouch, 6 guns, 400 horse power, 1058 tons burden,

Cyclops. Captain Lapidge, 6 guns, 320 horse power, 1106 tons.

Rattler, (screw propeller), Commander Smith, 5 guns 200 horse power, 888 tons burden.

There were besides a number of smaller steamers. tenders, &c., in the harbour. together with the Cornwall transport embarking 340 troops, detachments of various regiments for the Cape of Good Hope and the Mauritius.

With respect to the movements of the squadron we are informed, on what we deem good authority, that they are under orders to proceed again to sea after a delay of three days to water -- that they will cruise towards Bantry, and anchor for some time in that splendid bay, where, as we are informed, it is intended that the crews and marines shall be landed and exercised in warlike tactics, landing at night, and such like evolutions, the object of the present trials being to exercise the crews and manoeuvre them in naval operations. With this view Captain Horatio Austin, C.B., has bean appointed to the St. Vincent, to superintend the machinery of the steam squadron of evolution, he having commanded the Cyclops frigate at the capture of St. Jean D'Acre, and made steam machinery, as applied to navigation, his particular study.

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